Global Automotive Telematics Market Report 2022: A $1,23,487.5 million Market by 2027 – Astute Analytica
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Automotive telematics incorporates wireless telematics devices, GPS systems, onboard vehicle diagnostics, and black box technologies that record and transmit data from the vehicle. The data includes maintenance requirements, vehicle speed, location, and servicing.
The rising deployment of the Next-Generation Telematics Protocol (NGTP), combined with the sustaining government laws and growing technology penetration, is paving the growth path for the global automotive telematics market during the study period. NGTP is a telematics protocol that enables high flexibility for the users and caters to the changing need of the customers in terms of new services. Additionally, growing employment levels and increasing disposable incomes will further contribute to the automotive telematics market.
Automotive Telematics Market: Segmental Analysis
Hardware components held the leading share in the global automotive telematics market
Hardware component leads with the highest share, owing to its affordability and the presence of a vast range of options. Additionally, high investments in the segment will further shape the scope of the market during the study period. The hardware segment is further bifurcated into categories like self-contained telematics units and GPS devices, wherein self-contained telematics units will hold the largest market share during the study period.
Vehicle tracking/recovery (fleet management), based on the application, leads with the highest market share in the automotive telematics market
On the basis of application, the vehicle tracking/recovery (fleet management) application segment is expected to lead with the highest market share, owing to the fact that fleet management systems enable users to locate company vehicles on demand and obtain engine error codes. Further, it also helps witness hazardous driver habits such as high speed, harsh braking, and idling, which will drive the growth of the market during the study period.
Heavy vehicle segment to grow at the highest growth rate
Based on vehicle type, the heavy vehicles segment is expected to record the highest growth rate based on vehicle type. The beneficial applications of telematics, such as the improvement in fleet efficiency, optimization of fuel consumption optimization, and remote monitoring of vehicles, via GPS and video-based telematics, are outlining the scope of the global market. The growth of the heavy vehicles segment is associated with the rising government mandates aimed at the implementation of vehicle tracking in commercial vehicles.
OEMs leading with the highest share in the global automotive telematics market
Based on sales channels, OEMs lead with the highest share in the global automotive telematics market because of the reason that OEMs offer integrated sensors and capabilities that enable users to have a high degree of data linked to vehicle operation. OEM use is mostly seen in
The
Impact of COVID-19 Pandemic
The COVID-19 pandemic led to a downturn in the growth graph of the automotive telematics market as the fleet operators were ordered to halt operations. The entire automotive industry went through a substantial decline in terms of revenue and consumer demand, which affected linked industries like the automotive telematics market. Therefore, the demand for automotive telematics reduced dramatically. Post COVID-19, the market is recovering at a fast pace as the need for operations optimization and fuel monitoring is growing steadily. Automotive OEMs are taking efficient short-term measures and long-term strategic decisions in order to cater to the growing demands of end-users.
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Competitive Dashboard
Octo Telematics is one of the prominent industry giants known for its telematics and data analytics solutions, which are specifically crafted for the auto insurance industry.
Airbiquity Information Technology and Services is a renowned firm, widely known for its connected vehicle services, automotive, and fleet management. Moreover, the firm also delivers services related to hardware and software integration, private cloud, SaaS, M2M, OTA, and connected cars to its users.
Segmentation Overview of the Global Automotive Telematics Market
Following are the different segments of the Global Automotive Telematics Market:
By Component segment:
Hardware
Self-contained Telematics Units (TCU)
GPS Devices
Software Platform
Services
Consulting
Implementation
Maintenance
Telematics as a Service
By Application segment:
Automatic Crash Notification
Billing Services
Driver Behavior
Emergency Calling
Insurance Risk Assessment
Navigation
On-Road Assistance
Remote Diagnostics
Vehicle Tracking/Recovery (Fleet Management)
Others
By Vehicle Type segment:
Light Commercial Vehicles
Passenger Car
Electric Vehicles
ICE Vehicles
Heavy Vehicles
Two-Wheele
Others
By Connectivity segment:
Satellite
Cellular
By Channel segment:
Aftermarket
OEMs
By Region segment:
The
|Europe
The
Rest of
Rest of
Rest of
Rest of APAC
Rest of MEA
Rest of
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