Automotive Telematics Market: Size, Share Production & Consumption Analysis with Forecast To 2028Posted by Priti S on July 7th, 2022 Automotive telematics market has already surpassed the valuation of US$ 64 billion and is expected to witness a whooping double-digit CAGR of over 21.5% during 2021-2028, projects a recent study published by ResearchMoz. The transportation industry is rapidly growing towards a tech-driven space as most automakers are integrating telecommunication and vehicle technologies with their automotive designs. Right from routing and navigation, and driver assistance, to fleet management and vehicle safety, automotive telematics is rapidly advancing towards more innovative and advanced tech features. The study projects that this will redefine the new trends in the automotive telematics market in the coming years. The next step in gaining popularity among leading players and stakeholders in the automotive telematics market is to launch the Internet of Vehicles IoV. Integrating next-generation sensors to intelligently process driver data and information is rapidly becoming common yet lucrative in the competitive landscape of the market, states the new study. It also highlights the increasing use of cloud-based servers to further enhance the functional capabilities of next-generation automotive telematics solutions. Download Report Sample FREE (Get PDF with Insights, Charts, Tables, Figures) @ https://www.researchmoz.us/request-free-sample/?reportid=1635 Rise of 5G to Give Another Boost for Market Growth In the coming years, end users in the automotive telematics market that offer Mobility as a Service (MaaS) are expected to benefit massively from the rise of 5G networks in the automotive telematics market. 5G is expected to help companies offering transportation and mobility services in various applications including tracking real-time travel and estimations on time of arrival. With the potential of 5G in enhancing automotive telematics, its application is expected to impact the MaaS industry positively in the coming years. Competitive Landscape Leading market players are resorting to strategies to enter collaborative agreements with connectivity solution providers. As connectivity remains an integral part of the modern automotive telematics market, collaborations with telecommunication companies to boost the speed of data transfer and improve the quality of vehicle data, suggests the report. Analyst’s Review Manufacturers in the automotive telematics market must focus on offering strong cyber security features with their services to gain the trust of young users. Also, promoting safety and vehicle diagnostics are important features for improving drivers’ on-road experience and can prove to be a lucrative strategy to gain momentum in the consumers’ market for automotive telematics,” says a lead analyst at ResearchMoz. Key Takeaways Here are the key takeaways from the report:
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