According to the current analysis of Reports and Data, the global Vehicle Telematics market was valued at USD 43.61 Billion in 2019 and is expected to reach USD 129.2 Billion by the year 2027, at a CAGR of 15.1%. Vehicle telematics systems, composed of telecommunication and informatics, provide crucial information for drivers, such as information about live traffic status and weather forecast. Essentially, it is the automotive monitoring system that empowers drivers to stay updated with real-time performance and safety of the vehicle. Information collected by the telematics system is beneficial in critical circumstances, for instance, to communicate instantaneously with the police or respective authorities for prompt actions in case of an accident.
The latest report is one of the most sought-after market research documents covering the grave impact of the COVID-19 outbreak current situation on the Vehicle Telematics market. The market intelligence report closely investigates the severe disruptions to this business sphere brought about by the pandemic. The coronavirus outbreak has significantly affected the Vehicle Telematics business landscape, posing threats to the developmental scope of the key manufacturers and buyers involved in this sector. The report further provides expert speculations about the post-COVID-19 scenario of the market.
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The rise in demand for automobiles is expected to drive the market in the coming years. A significant challenge in the market’s growth is affected by the unstable price of the raw materials. Market demand is expected to be restrained by the rising demand for plastic-free products. Rising applications of Vehicle Telematics in the coatings and paints are driving the market. The increasing usage of bio-based Vehicle Telematics will also supplement Vehicle Telematics market revenue share through 2027
Further key findings from the report suggest
The Vehicle Telematic market is forecasted to grow at a CAGR of 8.5% by the end of the forecast frame in 2027 due to the advancement in technology as well as the demand for upgrading the existing Advanced Driver Assistance Systems. Vehicle or OBD telematics is a way of monitoring the driving movements of an automotive. It captures information such as location, speed, mileage driven, and braking. OBD based system has become a critical driving force in modern transportation and fleet management systems. Fleet owners, operators, drivers, and society at large have significantly benefited from a reduced number of collisions, reduced amount of emissions, improved level of fuel efficiency, and overall, more productive vehicles
Based on technology, the Driver Management segment is forecasted to witness a lucrative market, growing at a CAGR of 14.8% by the end of the forecast frame in 2027. With the integration of GPS and driver data into the driver management software, it can ensure more accuracy in odometer readings. These values are uploaded automatically, allowing the operators to stay on top of preventative maintenance tasks. The leverage on these data in the driver management system gives peace of mind for drivers being safe and more productive on the road.
Next-Generation Protocol allows us to introduce scalability and flexibility into in-vehicle industries and is able to offer better connectivity and end-user access, information is integrated through apps and related software. For instance, BMW was able to provide services to its consumers by collaborating with Connexis and Wireless C Currently, the NTGP has an open-source architecture
Based on Provider Type, OEM aftermarket was forecasted to grow at CAGR of 15.5%. The main options available for OEM manufacturers are tethered devices, embedded devices and integrated smartphones. Connectivity and intelligence can be integrated into the car in the manner of embedded systems.
The global Vehicle Telematics market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies’ current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint
The leading companies operating across the global Vehicle Telematics market are listed below:
Robert Bosch GmbH (Germany), Continental AG (Germany), Trimble (U.S.), MiX Telematics (South Africa), OnStar Corporation, (U.S.), Minda Corporation Ltd. (India), AirIQ Inc (Canada), Agero Inc., (U.S.), Qualcomm Inc., (U.S.), and ETAS Group (Germany).
Technology and Solution (Revenue, USD Million; 2017–2027)
Fleet Tracking and Management
Navigation and Location-Based System
Safety & Compliance
Provider Type (Revenue, USD Million; 2017–2027)
Vehicle Type (Revenue, USD Million; 2017–2027)
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Key Takeaways from the Global Vehicle Telematics Market report:
The global Vehicle Telematics market report entails a broad product segmentation.
It methodically evaluates the overall product expanse of this business space.
The report covers pivotal information about the accrued market share of each product type, their profit estimations, and production growth graph.
The report provides the reader with a generic summary of the application gamut of the global Vehicle Telematics market
The report further details the market share and product demand for each application segment.
The study estimates the growth rate of each application segment over the projected timeframe.
Moreover, the report offers crucial information on the different parameters boosting the global market expansion, such as raw material production and market concentration rates.
Table Of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Vehicle Telematics Market Segmentation & Impact Analysis
Chapter 5. Vehicle Telematics Market, By Type Insights & Trends
Chapter 6. Vehicle Telematics Market, By Application Insights & Trends
Chapter 7. Vehicle Telematics Market, By End Use Insights & Trends
Chapter 8. Vehicle Telematics Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
10.1. Robert Bosch GmbH
10.2. Continental AG
10.4. MiX Telematics
10.5. OnStar Corporation
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