DUBLIN--(BUSINESS WIRE)--The "Telematics Solutions Market by Service (ACN, eCall, RSA, Remote Diagnostics, Insurance Risk Assessment, Driver Behavior, Billing & Other), Form & Vehicle Type, Component, Connectivity, Aftermarket, Fleet Management Service, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The telematics solutions market is estimated to be USD 29.9 billion in 2020 and projected to reach USD 62.6 billion by 2025, at a CAGR of 15.9%.
One of the major trends witnessed in the telematics solutions market is the increasing number of collaborations and partnerships among different systems providers, OEMs, telematics service providers, and other stakeholders. For instance, in December 2019, Avis Budget Group Inc. entered into a partnership with Verizon Communications Inc. to launch an all-in-one digital travel assistant exclusively for customers of Avis Budget Group Inc. and Payless Car Rental Inc., using Verizon's nationwide 4G LTE network. Increasing demand for improved safety features in vehicles and more efficient road traffic is the primary reason driving the growth of the telematics solutions market.
Passenger Car Segment is expected to remain the largest segment by vehicle type.
The passenger Car market is mainly driving because of an increase in demand for safety and convenience telematics services. The US, Canada and most of the European are economically stable and have a high standard of living and disposable income which leads to the demand for high-end telematics services and connectivity solutions. Infrastructure availability in such countries attracts the global OEMs and Tier 1 to test and develop more telematics services for autonomous cars also supportive government policies help them to test vehicles on the road. As people have high standards of living and disposable income in these countries, they would like to spend more on safety and comfort features. The demand for self-driving cars in developed countries, making the OEMs introduce advanced telematics technologies and services which is expected to increase the market of the passenger car market.
HCV segment is expected to remain the largest segment by Aftermarket
The demand for substantial commercial vehicle telematics services in the aftermarket is expected to continue its increase in the near future due to technological advancement and an increase in demand for fleet management services in trucks and buses. The large fleet owners are majorly using fleet management services for commercial vehicles and they prefer those services from the third party instead of OEMs as it is a more convenient way for them to avail services as per their needs. Fleet management services help fleet owners to cut down their cost of business by increasing fuel efficiency and decreasing the break down of vehicles.
The North American market is expected to register the fastest growth after the Asia Pacific during the forecast period.
The North America telematics solutions market is estimated to be the fastest-growing OE market after Asia-Pacific. In North America, the telematics services such as advance diagnostic system would boost the telematics market. In advanced diagnostics, an inbuilt mechanism relays real-time messages to the driver and the automobile dealer in case of any issues that are likely to affect the vehicle, which will help predict potential automobile issues before they take place. Moreover, an increase in demand for Insurance risk assessment, driver behavior, and fleet management services for commercial vehicles is one of the important drivers for the telematics market in North America.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Years Considered for the Study
5.3 Currency & Pricing
5.4 Market Dynamics
5.5 Revenue Missed/Shift: Opportunities for Telematics Manufactures
6 Telematics Solutions Market, by Services
6.2 Automatic Crash Notification
6.3 Emergency Calling
6.4 Navigation & Infotainment
6.5 On-Road Assistance
6.6 Remote Diagnostics
6.7 Vehicle Tracking/Recovery (Fleet Management)
6.8 Insurance Risk Assessment
6.9 Driver Behaviour
6.10 Billing Services
6.11 Others(Fuel Efficiency Guidance, Geo-Fencing, Eco Driving)
7 Telematics Solutions Market, by Form Factor
8 Telematics Solutions Market, by Components
8.2 Telematics Control Unit (TCU)
8.3 Navigation System
8.4 Communication Devices (Bluetooth, Wifi, 3G, 4G, 5G)
8.5 Audio/Video Interface
8.6 Can Bus
9 Telematics Solutions Market, by Vehicle Type
9.1.1 Passenger Cars
10 Telematics Solutions Market, by Connectivity
10.1.1 Satellite Technology
10.1.2 Cellular Technology
11 Telematics Solutions Market, by Aftermarket
11.1.1 Passenger Car Aftermarket
11.1.2 Lcv Aftermarket
11.1.3 Bus Aftermarket
11.1.4 Truck Aftermarket
12 Telematics Solutions Services Market, by Type
13 Telematics Solutions Market, by Region
13.2 Asia Pacific
13.4 North America
13.5 Rest Of the World (ROW)
14 Competitive Landscape
15 Competitive Profile
15.1 Robert Bosch Gmbh
15.2 Continental Ag
15.3 Lg Electronics
15.5 Harman International
15.6 Delphi Automotive Plc
15.7 Visteon Corporation
15.8 Magneti Marelli S.P.A.
15.9 Tomtom International Bv
15.10 Qualcomm Technologies Inc.
15.11 Intel Corporation
15.12 Additional Company Profiles
15.12.1 Trimble Inc
15.12.3 MiX Telematics
15.12.4 Octo Telematics
15.12.5 Airbiquity Inc.
15.12.6 Masternaut Limited
15.12.8 the Descartes Systems Group Inc.
15.12.9 Astrata Group
15.12.10 AirIQ Inc.
15.12.11 Garmin Ltd.
15.12.12 Box Telematics
15.12.13 Act soft
15.12.14 Teletrac Navman
For more information about this report visit https://www.researchandmarkets.com/r/qovo72