Global Automotive Telematics Market: Overview
The global automotive telematics market comprises of telematics which is utilized by light, medium, and heavy commercial vehicles. All main automotive manufacturers across the world are now focusing on developing and executing the telematics theory into their vehicles. The incorporation of information processing systems and telecommunications in automobiles that comprises the GPS navigation, emergency caution system for vehicles, automatic driving assistance systems integrated hands-free mobile phones, and wireless safety communications, comes under the division of telematics.
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Global Automotive Telematics Market: Growth Factors
The automotive telematics market is majorly driven by the customers who are demanding unique and new innovative aspects and services that are impeccably incorporated into their mobile and digitized lifestyles. The market is mainly driven by technical improvements aimed at improving the overall in-vehicle experience of customers. Additionally, the growth of this market is driven by improved safety awareness, strict security & safety norms, and affordability to adopt telematics systems. The market will be primarily driven by major concerns about the safety and security of the driver/passenger that helps to increase the use of telematics services considerably. The immense rise in the overall demand for passenger vehicles has established to be extremely advantageous for the global automotive telematics market. Increasing sales figures, particularly in developing economies with growing disposable income and the growing population of rich middle-class families in countries such as China, Brazil Indonesia, and India, are creating abundant development opportunities for technically highly developed accessories in vehicles. These aspects, combined with the increasing connectivity of internet and enhanced network infrastructure in these countries are driving the demand for automotive telematics market.
Global Automotive Telematics Market: Segmentation
The global automotive telematics market is classified based on type, applications, and end-user. Based on the type, the automotive telematics market is bifurcated into aftermarket and automotive original equipment manufacturers (OEM). Aftermarket is expected to have a comparatively high market share as compared to OEM. On the basis of applications, the automotive telematics market is classified into services and solutions. Solutions segment is further sub-divided into infotainment, fleet/asset management, vehicle-to-vehicle (v2v)/vehicle to infrastructure (v2i), insurance telematics, remote alarm, telehealth, and others. The services segment is sub-segmented into deployment & integration, design & consulting, and maintenance & training. On the basis of end-user, the global market is divided into healthcare, transportation & logistics, media and entertainment, insurance, government agencies, and vehicle manufacturers/dealers.
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Global Automotive Telematics Market: Regional Analysis
Regionally, the market is categorized into Europe, Asia Pacific, North America, and the Middle East and Africa. In the coming future, Asia Pacific is anticipated to be the major market, due to the quickly rising number of automobiles sold in the region. The rise in sales is primarily boosted by the rising population and the growing disposable income. The Middle East and Africa automotive telematics market are also increasing at a good pace owing to growing government regulations for the security & safety of passengers, drivers, and vehicles.
Global Automotive Telematics Market: Competitive Players
Some of the major market players in the global automotive telematics market are Airbiquity Inc., Agero Inc., Verizon Communications Inc., Continental AG, and Visteon Corporation, among others.
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Global Automotive Telematics Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- The Asia Pacific
- Latin America
- The Middle East and Africa