Automotive Telematics Market to Surpass $149 Billion in Revenue by 2030 - Insights by Vehicle Type, System Type, Services, Communication Technology and Region - ResearchAndMarkets.com

DUBLIN--()--The "Automotive Telematics Market Research Report: By Vehicle Type, System Type, Services, Communication Technology - Industry Size, Share, Development and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global automotive telematics market is expected to attain $149.9 billion in revenue in 2030. In 2019, the market was valued at $27.7 billion, and it is predicted to shootup massively during the forecast period (2020-2030), with a CAGR of 16.6%. The major reasons behind this rapid rise of the market are the increasing demand for better safety features in vehicles, rising sale of connected vehicles, and growing implementation of supportive government measures and regulations.

The growing demand for enhanced safety features in vehicles that will lead to increased passenger safety and an efficient road traffic system is one of the major factors fueling the surge in the automotive telematics market value. Some of the major outcomes of road transportation are road traffic and serious accidents and deaths, and the main reason behind most of them is human error. However, with the wide-scale utilization of various telematic solutions, the prevalence of such fatal accidents can be reduced considerably.

In the last few years, the world has witnessed a tremendous rise in the demand for connected cars, primarily due to the swift technological advancements and numerous advantages offered by them over the traditional vehicles, such as traffic and collision warnings, real-time traffic monitoring, automobile diagnostics, and roadside assistance. Additionally, these vehicles also offer vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity features, which are two of the major components of telematic solutions. Thus, the growing demand for connected cars is causing the surge in the integration of telematics solutions.

On the basis of vehicle type, the automotive telematics market is bifurcated into commercial vehicle and passenger car. Of these, commercial vehicles are expected to register faster growth, in terms of revenue, during the forecast period. This is attributed to the rapid rise in the integration of cloud-based fleet management telematic solutions by fleet owners across the globe. Fleet telematic solutions allow for the efficient organization of day-to-day operations of the fleet, by providing real-time details of the connected vehicles to the central control unit.

Based on system type, the automotive telematics market is divided into integrated, embedded, and tethered categories. Amongst these, the embedded category accounted for the majority of the market share, in terms of revenue, throughout the historical period (2015-2019). This is ascribed to the fact that nearly all the telematic solution providers offer in-built systems, in order to make continuous network connectivity possible. Out of the different categories, the integrated one is predicted to record the fastest growth, in terms of revenue, during the forecast period.

One of the key trends being witnessed in the automotive telematics market is the growing number of partnerships and collaborations among different solution providers, systems integrators, original equipment manufacturers (OEMs), and other players. For instance, Avis Budget Group Inc. initiated a partnership with Verizon Communications Inc. in December 2019. The purpose behind this partnership was to start an all-in-one digital travel assistant, with the aid of Verizon's countrywide 4G LTE network, especially for the clients of Avis Budget Group Inc. and Payless Car Rental Inc.

Globally, North America had the largest share in the automotive telematics market, in terms of revenue, in 2019. The main factor behind this was the large-scale implementation of supportive government regulations. For instance, the Federal Motor Carrier Safety Administration (FMCSA) in the U.S. has made it mandatory for the commercial vehicles in the country to install electronic logging devices (ELD), which caused a huge spike in the demand for automotive telematic solutions, thereby leading to the market growth in the region.

Hence, the market, on account of the increasing global demand for automotive telematic solutions, in order to increase road and vehicle safety and enable efficient traffic management, is set to witness a massive boom in the coming years.

Key Topics Covered

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 by Vehicle Type

4.1.1.1 Passenger Car

4.1.1.2 Commercial Vehicle

4.1.2 by System Type

4.1.2.1 Embedded

4.1.2.2 Tethered

4.1.2.3 Integrated

4.1.3 by Service

4.1.3.1 Safety and Security

4.1.3.2 Infotainment and Navigation

4.1.3.3 Remote Diagnostics

4.1.4 by Communication Technology

4.1.4.1 V2V

4.1.4.2 V2I

4.1.4.3 Others

4.2 Value Chain Analysis

4.3 Feasibility of Telematics Services in Different System Types

4.4 Market Dynamics

4.4.1 Trends

4.4.1.1 Increasing Number of Partnership and Collaborations

4.4.1.2 Rising Application of Telematics Solutions in Off-Highway Vehicles

4.4.2 Drivers

4.4.2.1 Rising Demand for Improved Safety Features in Vehicles

4.4.2.2 Increasing Adoption of Connected Vehicles

4.4.2.3 Existence of Supportive Government Regulations

4.4.2.4 Impact Analysis of Drivers on Market Forecast

4.4.3 Restraints

4.4.3.1 Threat of Cyberattack and Data Breach

4.4.3.2 Increase in Vehicle Price

4.4.3.3 Impact Analysis of Restraints on Market Forecast

4.4.4 Opportunities

4.4.4.1 Introduction of Autonomous Vehicles

4.4.4.2 Shift Toward 5G Technology from 4G LTE

4.5 Porter's Five Forces Analysis

Chapter 5. Global Market Size and Forecast

5.1 By Vehicle Type

5.2 By System Type

5.3 By Service

5.4 By Communication Technology

5.5 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. LAMEA Market Size and Forecast

Chapter 10. Competitive Landscape

10.1 List of Key Players and Their Offerings

10.2 Competitive Analysis of Key Players

10.3 Competitive Benchmarking of Key Players

10.4 Strategic Developments of Key Players

10.4.1 Product Launches

10.4.2 Partnerships

10.4.3 Client Wins

10.4.4 Facility Expansion

10.4.5 Other Developments

Chapter 11. Company Profiles

11.1 Teletrac Navman US Ltd.

11.1.1 Business Overview

11.1.2 Product and Service Offerings

11.2 Inseego Corp.

11.3 MiX Telematics Ltd.

11.4 Visteon Corp.

11.5 Verizon Communications Inc.

11.6 Robert Bosch GmbH

11.7 DENSO Corp.

11.8 General Motors Co.

11.9 Valeo S.A.

11.10 HARMAN International Industries Inc.

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900