In 2019, the global automotive telematics market generated a revenue of $27.7 billion and is expected to attain a value of $149.9 billion by 2030, advancing at a 16.6% CAGR during the forecast period (2020–2030). In terms of vehicle type, the passenger car category held the largest share of the market during the historical period, which is attributed to the rising adoption and integration of telematics systems by manufacturers of passenger cars, around the world.
On the basis of system type, the integrated systems category is expected to grow at the fastest pace in the automotive telematics market during the forecast period. The reasons for this are the rising sales of electric vehicles and increasing requirement for internet connected infotainment units in premium and mid-range passenger vehicles. In terms of communication technology, the vehicle-to-vehicle category accounted for the major share of the market in 2019.
Geographically, North America and Europe, accounted for a cumulative share of more than 65.0% in 2019, in terms of value, in the automotive telematics market. North America contributed the largest revenue share to the market in 2019. The reason for this is the high adoption of in-vehicle connected technology. Latin America is expected to register the highest CAGR during the forecast period, which is ascribed to the fact that the market in emerging countries of the region, including Mexico and Brazil, is still in its nascent stage.
A major trend being witnessed in the automotive telematics market is the rising number of collaborations and partnerships. These collaborations and partnerships are aimed at aiding organizations for gaining access to the technological knowledge of the companies which are acquired and enhancing their portfolio with the addition of an attractive suite of services and products. For example, in October 2019, TomTom Inc. partnered with Verizon Communications Inc. for introducing an innovative 5G project to create a safer intersection for emergency vehicles.
Company Profiles: Teletrac Navman US Ltd., Inseego Corp., MiX Telematics Ltd., Visteon Corp., Verizon Communications Inc., Robert Bosch GmbH, DENSO CORP., General Motors Co., Valeo SA, HARMAN International Industries Inc.
Market Segmentation by Vehicle Type
On the basis of system type, the integrated systems category is expected to grow at the fastest pace in the automotive telematics market during the forecast period. The reasons for this are the rising sales of electric vehicles and increasing requirement for internet connected infotainment units in premium and mid-range passenger vehicles. In terms of communication technology, the vehicle-to-vehicle category accounted for the major share of the market in 2019.
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A major trend being witnessed in the automotive telematics market is the rising number of collaborations and partnerships. These collaborations and partnerships are aimed at aiding organizations for gaining access to the technological knowledge of the companies which are acquired and enhancing their portfolio with the addition of an attractive suite of services and products. For example, in October 2019, TomTom Inc. partnered with Verizon Communications Inc. for introducing an innovative 5G project to create a safer intersection for emergency vehicles.
Company Profiles: Teletrac Navman US Ltd., Inseego Corp., MiX Telematics Ltd., Visteon Corp., Verizon Communications Inc., Robert Bosch GmbH, DENSO CORP., General Motors Co., Valeo SA, HARMAN International Industries Inc.
Market Segmentation by Vehicle Type
- Passenger Car
- Commercial Vehicle
- Embedded
- Tethered
- Integrated
- Safety and Security
- Infotainment and Navigation
- Remote Diagnostics
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Infrastructure (V2I)
- Others
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