Global Vehicle Telematics Market at a CAGR of 20.3% Growth, Trends and Absolute

Posted by swamiv on February 10th, 2020

Due to high demand and the value of market research for the success of different sectors, Vehicle Telematics Market report has been prepared by covering many work areas. This is a professional and a complete report focusing on primary and secondary drivers, market share, competitor analysis, leading segments and geographical analysis. This Vehicle Telematics Market report lets you know that how the market is going to perform in the forecast years by giving you information about market definition, classifications, applications, and engagements. Few of the features such as objectivity have been kept at the centre while obtaining the best result via this Vehicle Telematics Market report for ICT industry.

The Global Vehicle Telematics Market is expected to reach USD 20.12 billion by 2025, from USD 7.31 billion in 2017 growing at a CAGR of 20.3 % during the forecast period of 2018 to 2025.

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Market Definition: Global Vehicle Telematics Market

 Vehicle telematics can be termed as electronic technology that is involved in cars which helps the customer to keep the cars safer  prevent it from getting lost and helps to summon roadside assistance. These telematics can also be termed as crash-resistant black box which receives wireless information which is advance than the radio. The best features of this telematics are automatic crash notification (ACN). This feature helps the car to sense significant accident and also report them. The various features that the telematics provide are emergency assistance, good Samaritan assistance, roadside assistance and automatic collision notification. The market for the telematics is expected to grow exponentially as computer applications are developed to take advantage of the growing number of GPS units, increased processing power and widespread use of mobile devices. The future of telematics will be determined by the needs of fleet owners who continue to look for ways to cut costs, boost their productivity. Vehicle makers are likely to capitalize on this growth by installing OEM telematics solutions it will continue to develop smart cars that use telematics technology to deliver better results for customers. The automobile market is growing at highest growth rate and according to an article published by trading economics, in the year 2018 , the sales of vehicles in china will rise by 9.6% and around 2.29 million units would have been sold by the end of the month may in 2018. This shows that the increase in the production of the automobile around the globe will also increase the growth vehicle telematics market.  

Market Drivers:

• Increasing adoption of NGTP would enhance the telematics service delivery
• Proliferation of telematics technology due to decreasing sensor and connectivity cost
• Growing government mandate for deploying vehicle tracking in commercial vehicles
• Rising demand for smartphones supplements the adoption of telematics solutions and services

Market Restraint:

• Increased communication, leading to security and privacy concern
• Complete network coverage and elimination of blind spots

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Segmentation: Global Vehicle Telematics Market

By Provider Type

• OEM
• Aftermarket

By Vertical

• Transportation and Logistics
• Government and Utilities
• Travel and Tourism
• Construction
• Education
• Healthcare
• Media and Entertainment

Competitive Landscape: Global Vehicle Telematics Market

The global Vehicle Telematics Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Vehicle telematics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Market Competitors: Global Vehicle Telematics Market

The key players operating in the global vehicle telematics market are –

• PTC, Inc.
• Trimble Inc.
• Tomtom Telematics Bv
• Verizon Telematics, Inc.

The other players in the market are Mix Telematics International (PTY) Ltd, Zonar Systems, Inc, OCTO Telematics Ltd, Omnitracs, LLC, Masternaut Limited, Microlise Group Ltd, Inseego Corporation, Volkswagen Commercial Vehicles and many more.

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