Automotive Telematics Market Size And Forecast
According to Verified Market Research, Global Automotive Telematics Market was valued at USD 22.20 Billion in 2018 and is projected to reach USD 68.77 Billion by 2026, growing at a CAGR of 15.10% from 2019 to 2026.
What is Automotive Telematics?
Telematics involves the method of monitoring the vehicle. The Automotive Telematics is the technology which integrates the vehicular informatics with the communication technology to achieve the security and management solutions. It is used to enhance road safety, road transportation, multimedia and internet applications in the infotainment system. It is widely applicable in the automotive industry to evaluate the telematics value in the connected cars to serve the purpose of an individual or business point of view.
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Global Automotive Telematics Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The Automotive Telematics Market is experiencing tremendous growth owing to the adaption of the autonomous vehicle in response to the innovations in the technology. Moreover, the demand for improved vehicle performance and data diagnostic for interpretation is imposing a positive outlook on the market growth. In addition, the laws introduced by the government for vehicle safety and security is another factor propelling the market growth. However, the insufficient standards and lack of telematics solutions infrastructure are factors hampering the market growth.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Automotive Telematics Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global Automotive Telematics Market Competitive Landscape
The “Global Automotive Telematics Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as I.D. Systems; Magneti Marelli S.p.A., Intel Corporation; Verizon; MiX Telematics; Robert Bosch GmbH; HARMAN International; TomTom International BV; Masternaut Limited; and Teletrac Navman US Ltd. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Automotive Telematics Market, By Service
• Information & Navigation
• Safety & Security
• Remote Diagnostics
Automotive Telematics Market, By System
Automotive Telematics Market, By Vehicle Type
• Passenger Car
• Commercial Vehicles
Automotive Telematics Market, By Geographic Scope
• North America