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Research details developments in the Global automotive telematics market to grow at a CAGR of 21.1% by 2022

A telematics system consists of both the hardware and the software that incorporates some form of cellular communication which allows the vehicle to communicate with the cars on the road, i.e. vehicle-to-vehicle (V2V), roadside infrastructure, i.e. vehicle-to-infrastructure (V2I), and Vehicle-to-device systems (V2X) The market is estimated to reach $55.97 billion by 2022 at a CAGR of 21% between 2016 and 2022. Growing awareness about driver safety, decreasing cost of connectivity, increasing market penetration rate of smartphones, and stringent automotive safety regulations are some of the reasons fueling the market growth. However, the market consists of certain constraints such as increasing hacking/privacy concerns, lack of cellular coverage, and low awareness about telematics which are hampering its overall growth.

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Growing awareness and numerous benefits of telematics, advancement in smartphones, high speed internet connectivity, and developed GPS receiver have changed the telematics business rapidly. Moreover, rising awareness about driver’s safety and growing influence of safety regulations imposed by various government organizations in the European Union, Russia, and Brazil have made telematics an essential component for vehicles.

The market is estimated to witness a growth at a CAGR of 21.1% over the period of 2016 to 2022. The report is a compilation of various segmentations including market breakdown by connectivity type, services, vehicle type, distribution channel, and different geographical areas.

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The report details the market analysis and forecast with respect to its various connectivity types such as embedded, tethered, and integrated. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the different vehicles that are analyzed which includes passenger cars and commercial vehicles.

Segmentation of vehicle type, by the distribution channel (OEM and Aftermarket) is also included in the report. It also details the leading players involved in the industry.

Various services such as information & navigation, safety & security, entertainment, and remote diagnostics have been analyzed and their market numbers are projected in the report. The report also highlights the evolution of telematics with major focus on the pricing analysis.

The company profiles section includes highlights of significant information about the key companies involved along with their financial positions, key strategies & developmental activities of recent years. Some of the key players are Robert Bosch GmbH, Continental AG, AT&T Inc., Verizon Communications Inc, TomTom NV, Mix Telematics Ltd, Octo Telematics SpA, Delphi Automotive PLC.

North America generated the maximum revenue in the year 2015 and APAC is expected to grow at the fastest rate in the forecast period. The industry is expected to cross USD 55 billion in total market value by the end of the forecast period.

The global automotive telematics market has been observed along the lines of its connectivity, services, vehicle type, distribution channel, and geography.

Telematics is a communication technology that can be either provided through an integrated communication module or a smart phone and hence the market has been classified into embedded, tethered, and integrated on the basis of connectivity. Embedded cellular connectivity contributed the maximum in terms of revenue to the market and accounted for 77% share in 2015.Factors such as government regulations to install an integrated SIM for safety and security of passenger and vehicle, shared data plans, reliability, faster data transfer rate, and web-based apps have contributed to the market sales.

However, between 2016 and 2022, integrated connectivity is expected to grow at a faster rate,   by 24% in comparison to other connectivity solutions. Increasing market penetration of smartphones and its apps along with low hardware costs are some of the factors that are contributing to the integrated connectivity market growth.

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The increased demand for connected cars has led OEM’s and telecom operators to offer a variety of services for the users and therefore the market is categorized by four main services: safety & security, information & navigation, entertainment, and remote diagnostics. Information and navigation services held the highest share in 2015 because of factors like wide application in developed countries such as the US and Japan, speed, reliability, ease, and cost-effectiveness.

Application of telematics in passenger cars accounted for a major share and OEMs were the chief distributors of telematics in 2015. This report provides the revenue of the key regions – North America, Europe, Asia-Pacific (APAC), and Rest of the World (ROW).

The analysis had identified that North America was the maximum revenue generating segment in 2015. Between 2016 and 2022, the automotive telematics market in APAC is expected to grow at a faster rate of 22.1% in comparison to other regions.

Factors such as well-established automotive industry, increasing disposable income, and growing awareness of telematics are some of the factors contributing to the market growth in APAC.

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