DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/pdl64h/automotive) has announced the addition of the "Automotive Telematics Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014 - 2020" report to their offering.
Automotive telematics combines telecommunication and informatics to provide various services such as navigation, safety and security dynamically to vehicles. Currently, the global penetration of automotive telematics is currently -48%, which is expected to reach -62% by 2020.
Asia Pacific automotive telematics market is expected to reach US$ 15,248 Million by 2020 at an estimated CAGR of 11.6% during forecast period. Increased vehicle production and sales, regulatory reforms and improved telecom infrastructure are some of the factors which are driving APAC automotive telematics market.
End Use Overview:
On the basis of end use, Asia Pacific automotive telematics market is segmented as infotainment, diagnosis, navigation, safety & security and others. Safety & security and diagnosis segments collectively contributed to about 50% of Asia Pacific automotive telematics market revenues in 2014. Infotainment application segment is identified as one of the fastest growing markets during the forecast period with a CAGR of 12.6%.
On the basis of technology, Asia Pacific automotive telematics market is segmented as embedded, tethered and smart phone. Currently, embedded technology segment is dominating the market and is projected to reach US$ 11,934.6 Million by 2020. Though smart phone technology segment is estimated to capture lowest market revenue share of 7.6% in APAC automotive telematics market in 2014, it's expected to register a highest CAGR of 12.6% during forecast period.
Telematics technology can be integrated with passenger and commercial vehicles. Currently, passenger car segment has 88% market revenue share in Asia Pacific automotive telematics. Passenger car segment is expected to continue its dominance till 2020, due to high production and sales volume.
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