#Automotive Telematics Market, Automotive Telematics Market Size, Automotive Telematics Market Share, Automotive Telematics Market Growth, Automotive Telematics Market Trends, Automotive Telematics Market Forecast Analysis
Automotive Telematics Market Overview and Insights:
IMR posted new studies guide on Automotive Telematics Market Insights with self-defined Tables and charts in presentable format. In the Study you may locate new evolving Trends, Drivers, Restraints, Opportunities generated via targeting market related stakeholders. The boom of the Automotive Telematics marketplace became specifically driven with the aid of the growing R&D spending internationally.
Some of the Top Leading Key Players: Act Soft, Airbiquity Inc, Airiq Inc, Astrata Group; At&T, Box Telematics, Calamp, Continental AG, Delphi Automotive Plc, Garmin Ltd, Harman International, Intel Corporation, LG Electronics, Magneti Marelli S.p.A, Masternaut Limited, Mix Telematics, Octo Telematics, Qualcomm Technologies Inc, Robert Bosch GmbH, Teletrac Navman The Descartes Systems Group Inc, Tomtom International BV, Trimble Inc, Verizon, Visteon Corporation and others major players.Regional Analysis of Automotive Telematics MarketNorth America is dominating the Automotive Telematics Market. Due to rising industrialization and a large number of commercial vehicles, the area leads the worldwide Market. The primary factors driving Market expansion in this area are increased safety and security concerns among drivers, passengers, and vehicles, as well as the avoidance of accidents. Furthermore, government laws that favor automobile telematics are fuelling industry expansion. For example, the US government recently secured a deal with Geotab to install fleet management telematics technology in 217,000 vehicles. Several insurance firms in North America are utilizing telematics technologies to reduce risk by tracking usage, security, and maintenanceEurope is the fastest-growing region in the Automotive Telematics Market. Because of the strict safety rules implemented by the government in this area, Europe is expected to see a reasonable rise in the Market. For example, starting in 2018, the European Commission has made telematics eCall systems essential in all new passenger and commercial vehicles. This is supposed to minimize the time it takes for emergency vehicles to respond and save passengers' lives in the event of a serious accident. The need for vehicle telematics in this region is being fueled by the rising demand for remote diagnostics and accurate navigation of commercial vehiclesThe Asia Pacific is expected to be an emerging region in the Automotive Telematics Market. The Asia Pacific is the largest Market for the automotive sector. With the large contribution from India, China, and other southeast Asian countries, sales have been boosted in the last five years. The local manufacturers and global automobile manufacturers have recognized the potential in the Asia Pacific Market. Increasing technological features in passenger and commercial vehicles and government regulations on the safety and security of vehicles as well as passengers created a potential environment for the growth of the telematics Market.Key Developments of Automotive Telematics MarketIn September 2023, Google Cloud and Continental announced a strategic partnership aimed at delivering innovative and flexible digital solutions for the automotive industry. This collaboration merges Continental's expertise in automotive technology with Google's advanced data and artificial intelligence capabilities, paving the way for a new generation of safe and efficient, user-centric automotive solutions. Both companies also plan to explore additional areas of cooperation in the future to enhance automotive connections and customer experiencesIn May 2023, Targa Telematics announced the acquisition of Viasat Group Spa, positioning itself as a major global player in the IoT industry. This strategics move enables the development of innovative connected mobile solutions and digital services across eight key European countries Italy, Portugal, Spain, France, Great Britain, Belgium, Poland, and Romania, along with operations in Chile. The acquisition enhances Targa Telematics' capabilities and commitment to delivering cutting-edge IoT solutions worldwide.Covid19 Impact on Automotive Telematics MarketThe COVID-19 disaster has had a significant influence on practically every part of society, including automotive manufacturers and insurance firms. Companies and original equipment manufacturers (OEMs) in various countries were shut down to control and overcome the COVID-19 issue, which had a significant impact on the economy, particularly in developing countries. The pandemic has had a significant impact on the automobile sector, and the shutdowns of manufacturing facilities have created various issues. Automotive and component production factories throughout the world have shut down, consumer traffic in showrooms has plummeted, and governments in various regions have placed temporary trade restrictions, resulting in a major decline in automobile sales. The telematics Market is highly relying on the unit sales of the vehicle which was badly affected during a pandemic. According to Toyota Kirloskar Motor (TKM), Toyota sales in India fell by 86.49 percent in May 2020 to 1,639 units, compared to 12,138 units in May 2019. As a result, it is expected that these factors would limit the Market's expansion during a specified period
The Automotive Telematics Market size was valued at USD 45.11 Billion in 2023 and is projected to reach USD 170.23 Billion by 2032, registering a CAGR of 15.9% from 2023 to 2032.
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Segmentation Analysis of the Automotive Telematics Market
Automotive Telematics Market by Service (Information & Navigation, Safety & Security, Fleet Management, Insurance Telematics, Others), Technology (Integrated, Embedded, Tethered), Sales Channels (OEM, Aftermarket) Region Global Market Analysis and Forecast, 2024-2032
North America is Expected to Dominate the Market Over the Forecast period
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Key Industry Developments in the Automotive Telematics Market:
Geographically, the distinctive analysis of consumption, revenue, market share, and growth rate of the subsequent areas:
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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➠Benchmark Against Key Competitors: Use benchmarking to compare your business's performance against leading competitors, identifying areas for improvement and potential competitive advantages.
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Strategic Points Covered in Table of Content of Automotive Telematics Market:
Chapter One: Introduction
Chapter Two: Executive Summary
Chapter Three: Automotive Telematics Market Landscape
Chapter Four: Automotive Telematics Market by Type
Chapter Five: Automotive Telematics Market by Application
Chapter Six: Company Profiles and Competitive Analysis
Chapter Seven: Global Automotive Telematics Market by Region
Chapter Eight: Analyst Viewpoint and Conclusion
Chapter Nine: Research Methodology
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