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Telematics in Automotive Market Overview
In 2030, it is anticipated that the worldwide automotive telematics market would generate $149.9 billion in profits. The market had a value of $27.7 billion in 2019; it is anticipated to grow significantly with a CAGR of 16.6% from 2020 to 2030. The main drivers of this market’s explosive growth are the increased need for enhanced safety features in cars, the expanding popularity of connected cars, as well as the expansion of government policies and regulations that are supportive of the industry.
Automotive telematics integrates information technology and communications to offer vehicles a range of services, including navigation, safety, plus security. Car sharing, vehicle monitoring, container tracking, trailer tracking, vehicle emergency warning systems, as well as other uses for telematics, are its primary purposes. We have divided the automotive telematics market into five distinct categories in this study based on the kind of vehicle, the technology used, the end-use, the sales channel, as well as the region/country.
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The Automotive Telematics Market is divided into different segments based on the kind of vehicle, the technology used, the sales channel, the end-use, as well as the area. The Global and APAC Automotive Telematics Market may be divided into passenger and commercial segments depending on the type of vehicle. The Global and APAC Automotive Telematics Sector can be split into tethered, embedded, as well as smartphone segments based on the kind of technology used. The global and APAC automotive telematics market can be divided into OEM but also aftermarket based on sales channels.
The automotive telematics industry can be divided into entertainment, navigation, diagnosis, safety & security, and many others based on end-use. The APAC Automotive Telematics Industry may be divided into China, South Korea, Japan, ASEAN, India, as well as Oceania based on country.
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The North American, European, Asia-Pacific, plus Rest of the World regions make up the global telematics in the vehicle market. The automobile telematics system market is anticipated to be dominated by the North American region, accompanied by Europe and the Asia Pacific. The United States is the primary user of automobile telematics systems inside vehicles in the area of North America. To increase the usage of automobile telematics systems and increase road safety, governments in these advanced economies have put in place a variety of rules and policies. The increased use of cutting-edge technology and gadgets, like mobile phones, smartphones, computers, and other associated technological goods, is another factor driving the industry.
Additionally, the Asia Pacific region is anticipated to see the greatest growth throughout the forecast period as a result of the rise in domestic need for wireless communication systems in cars, particularly in developing nations like China and India.
To gain a deeper understanding of the industry and market performance, a report on the global telematics in the automotive market includes extensive primary research as well as a thorough overview of qualitative and quantitative aspects by a variety of industry experts as well as key opinion leaders.
One of the key elements driving the boom in the automotive telematics market value is the thriving market for improved safety features in cars that will promote passenger safety and a successful road traffic system. Road traffic, severe accidents, as well as fatalities, are among some of the main effects of road transportation, although the human error is typically to blame for the majority of these consequences. Nevertheless, the frequency of such catastrophic accidents might be significantly decreased with the widespread use of various telematic technologies.
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