The German automotive telematics market is predicted to attain a revenue of $7,748.0 million by 2030, increasing from $1.408.2 million in 2019, progressing at a 16.5% CAGR during the forecast period (2020–2030), according to the report by P&S Intelligence. The market is registering growth due to the extensive government support, in terms of regulation and policy formulation, for integrating such systems in automobiles, and rising preference for a safer driving alternative. On the basis of product type, the market is divided into integrated, embedded, and tethered.
Out of all these, the embedded division held the major share of the market in the past, owing to the regulatory policies in the EU that mandating the use of telematics systems. In addition to this, the division is also growing due to the rising demand for cloud-based services and increasing requirement for optimizing cost of service plans. The integrated division is expected to register the highest CAGR during the forecast period.
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When service is taken into consideration, the German automotive telematics market is categorized into vehicle to everything, insurance telematics, safety & security, fleet/asset management, remote diagnostics, and infotainment and navigation. Among these, the safety & security category is predicted to witness the fastest growth during the forecast period. The demand for passenger safety in vehicles has risen, owing to the development of automated driving and intelligent transport systems technology. Moreover, governments have taken initiatives for increasing vehicle safety in a number of countries.
In conclusion, the market is registering growth due to need for safer driving options and increasing adoption of telematics solutions in off-highway vehicles.
Market Segmentation by Product Type
- Embedded
- Tethered
- Integrated
Market Segmentation by Service
- Safety and Security
- Infotainment and Navigation
- Remote Diagnostics
- Fleet/Asset Management
- Insurance Telematics
- Vehicle to Everything (V2X)
- Others
Market Segmentation by Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Market Segmentation by Vehicle Type
- Two-Wheeler
- Passenger Car
- Commercial Vehicle
- Construction Machines
Market Segmentation by Verticals
- Transportation and Logistics
- Government and Utilities
- Travel and Tourism
- Construction
- Education
- Healthcare
- Media and Entertainment
- Others
Market Segmentation by Offerings
- Hardware
- Software
- Services
