The global automotive telematics market is anticipated to grow at a CAGR of 20.0% during the forecast period (2022-2028). Telematics is a communication technology for the automobile industry based on information flowing to and generated from vehicles through wireless networks. Telematics is a methodology of monitoring the location and movement of a vehicle by combining Global Positioning System (GPS) and on-board diagnostics systems. With the support of GPS and diagnostics systems, it is possible to record the speed and internal behavior of vehicles. Telematics systems are mainly adopted by automobile insurance companies, fleet management companies, and others to monitor the location and behavior of a vehicle.
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With the increase in the use of smartphones over the years, people need to stay connected with the outer world even while traveling. Due to this connectivity has become the need of the hour and automobile manufacturers adopt connectivity solutions in their vehicles to boost their sales. These are the driving factors contributing to the growth of the global automotive telematics market. Additionally, features such as tracking stolen vehicles, automatically alerting the help centers in case of accidents, driver monitoring, and remote locking unlocking of vehicles are some factors driving the growth of the market. However, high additional costs incurred while providing connectivity in a vehicle and also interrupted connectivity are some restraining factors for the growth of the market.
Some major players in the market include Continental AG, Masternaut Ltd., and Robert Bosch GmbH, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in January 2021, Qualcomm Technologies Inc. and General Motors announced a partnership to deliver premium experiences for their upcoming vehicles. The partnership entailed the incorporation of a full site of automotive solutions with the integration of General Motor’s next-generation digital cockpit and telematics systems & advanced driver assistance systems. Additionally, in October 2020, Airbiquity announced the launch of its OTAmatic vehicle configurator, a tool for defining and managing connected vehicle software.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Service
- By Vehicle Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Continental AG, Masternaut Ltd., and Robert Bosch GmbH, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Telematics Market Report by Segment
By Service
- Infotainment and Navigation
- Safety and Security
- Fleet Management
- Diagnostics
By Vehicle Type
- Commercial Vehicle
- Passenger Car
- Two-Wheeler
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