Automotive OEM Telematics Market Outlook – 2030
Telematics used in a vehicle are advanced navigation & infotainment systems that are used for monitoring the location and movement of vehicle through the combination of different components such as global positioning system (GPS), on-boards diagnostics system and others. Technological advancements followed by the introduction of numerous technologies such as in-car infotainment, connected features among vehicles as well as introduction of advanced driver assistance system in vehicles has created a positive impact on the growth of the automotive OEM telematics market.
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Moreover, introduction of telematics in vehicles has increased the performance of GPS and diagnostics system, due to which the speed and internal behavior of the vehicle can be recorded. Telematics systems are majorly adopted by the automobile insurance companies, fleet management companies, and others to monitor the location and behavior of the vehicle. Automotive manufacturers can choose between non-mutually exclusive connectivity options such as embedded telematics devices, tethered devices and integrated smartphones, which increases the performance of the system accordingly.
The key players analyzed in the report include Verizon 103, Harman International, TomTom, AT&T, Vodafone Group Plc., Ford Motors Co., BMW, Telefonica, MiX Telematics and Trimble Navigation Limited.
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Top Impacting Factor
The global automotive OEM telematics market trends are as follows:
Government Regulations for Vehicle Telematics
Government rules & regulations for safety, security, and tracking of vehicles in different regions drive the growth of the automotive OEM telematics market. For instance, the U.S. Department of Transportation has also issued guidelines for tracking of vehicles, which creates numerous opportunities for the growth of the market. In accordance with the same, the fleet manager must provide reports for all violations as identified by federal or state investigators, the detailed list of all the violations detected during inspections, and state-supplied crash reports. Moreover, it is also mandated that all of the fleet management systems (FMS) should be certified from the Federal Motor Carrier Safety Advisor. Therefore, government regulations for vehicle telematics are driving the growth of the market.
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Rise in Trend of Connectivity Solutions
Smartphones have changed the definition of connectivity over time. People wish to stay connected with the outer world even while traveling. Now that connectivity has become the need of the hour, automobile manufacturers adopt connectivity solutions in their vehicles to boost their automobile sales. Consumers are expecting their vehicles to perform tasks similar to computers and smart phones. Adding connectivity solutions in the vehicle has become the top-most priority for automobile manufacturers. Many connectivity solutions are integrated into modern vehicles. These need internet service to perform their respective functions. Connectivity can be provided in a car using embedded, integrated, or tethered connectivity solutions. The automotive industry is witnessing a phase of digital revolution. Over the next few years, automobiles are expected to be completely transformed into communication objects. Therefore, the automotive OEM telematics market is expected to grow at a promising rate, due to rise in customer demand for staying connected continuously even while traveling.
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