Automotive Telematics Market is projected to rise at a healthy CAGR of 22.1% dur

Posted by harshal on May 31st, 2019

Global Automotive Telematics Market: Snapshot

The global automotive telematics market is expected to rise at a significant rate due to increasing technological advanced and rapid uses of the telematics solutions in vehicles. Moreover, rising demand for telematics in emergency warning, integrated hand-free calling facilities, satellite navigation, and automatic driving assistance systems is further driving the demand in the automotive telematics market. Comparatively low carbon emissions, high fuel efficiency, improved traffic flow, efficient productivity from drivers, safe driving, and fast and cheap road transport are some of the other factors expanding the global automotive telematics market.

In a recent report published by Transparency Market Research (TMR), the global market for automotive telematics is projected to rise at a healthy CAGR of 22.1% during the forecast period between 2017 and 2025. The valuation of the global automotive telematics market is expected to reach US.79 bn by the end of 2025 from US.15 bn earned in 2016.

Safety Communication Feature in Automotive Telematics to Drive Market Performance

The global automotive telematics market is classified on the basis of application and vehicle type. Based on vehicle type, light commercial vehicle, passenger vehicle, and heavy commercial vehicle are the segments in which market is divided. Of these segments, the passenger vehicle segment is dominating the global market and holds 55.3% of share in the global market. Growing demand for technologies such as smart driver assistance and satellite navigation are the key factors for the growth of this segment. Safety communication feature is an integral part of automotive telematics, which is likely to provide fillip to the market.

Vehicle tracking, fleet management, satellite navigation, and vehicle safety communication are the key areas in which automotive telematics is employed. Of these, the vehicle tracking segment held 30% share in 2016. Rising at this rate, this segment is likely to dominate the market during the forecast period as it is widely adopted in the transportation sector.

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https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3167

Flourishing Automotive Industry to Boost Demand for Automotive Telematics in Asia Pacific

Geographically, as the global automotive telematics market can be segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, Asia Pacific held 33.5% of share in the global market in 2016. Over the forecast period, this region is likely to dominate the market due to the high demand for emerging economies such as India and China. Moreover, the rising automotive industry on the accounts of advanced technologies is also expected to drive the automotive telematics market.

The report also provides details about the key players operating in the global automotive telematics   market. Some of the leading players in the market are Visteon Corporation, Trimble, Inc., Masternaut Limited, Telogis, Continental AG, TomTom International B.V., and Airbiquity, Inc. Leading players are using different strategies to strengthen their position in the global market.