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Vehicle Telematics Market Industry Trends, Revenue, Key Players, Growth, Share and Forecast Till 2027 | Reports And Data


Vehicle Telematics M

iCrowdNewswire   Feb 3, 2021  2:00 AM ET

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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.

Competitive Terrain:

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

Driver Management

Insurance Telematics

Safety & Compliance

V2X Solutions

Others

Provider Type (Revenue, USD Million; 2017–2027)

Aftermarket

OEM

Vehicle Type (Revenue, USD Million; 2017–2027)

Passenger Vehicles

Commercial Vehicle

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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

    10.3. Trimble

    10.4. MiX Telematics

    10.5. OnStar Corporation

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