Press release
Automotive Telematics Market - Global Industry Size, Share, Growth, Trends and Forecast Analysis For 2016 - 2024
Telematics is a branch of information technology that facilitates long distance communication and transmission of computerized information. Automotive telematics combines telecommunications and informatics to provide necessary information when a vehicle is moving. It entails global positioning system technology integrated with communication technology within the vehicle. It has facilitated sweeping changes in the field of vehicle safety. The other purposes that it serves are information, navigation, remote diagnostics, and entertainment. Based on the type of connectivity, automotive telematics can be classified as tethered, embedded, and integrated. It can be used in passenger cars, heavy commercial vehicle, and light commercial vehicle.
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Transparency Market Research has prepared a report on the global market for automotive telematics after thorough research to gauge its current status and growth potential in the upcoming years. It leverages market-leading analytical tools to comprehend the opportunities in the market. It also details the prevailing competitive landscape by studying the business and marketing strategies of prominent companies operating in the market.
Global Automotive Telematics Market: Drivers and Trends
The global market for automotive telematics is slated to witness explosive growth in the near future powered by the pressing need to arrest the number of fatal road accidents worldwide. Favorable government policies in their support will also fuel an uptick in demand. This is because automotive telematics has resulted in the emergence of driving assistance systems, automated driving systems, vehicular emergency warming systems, wireless safety communications, and global positioning systems (GPS) navigation. Rapid growth in urban population, highly congested roads, and increasing traffic snarls have also spurred demand for automotive telematics which make vehicular transportation safer and smoother.
Automotive telematics enables intuitive motoring guidance to lower traffic snarls by redirecting the traffic to a congestion-free road. Additionally, the use of automotive telematics systems in fleet tracking and management to facilitate seamless coordination of mass transportation is expected to benefit the overall market. These systems also assist in carrying out accurate automobile insurance and trailer and vehicle tracking. On account of stiff competition among the numerous players – both new and old – in a fragmented global automotive telematics market, new innovative products using cutting-edge technologies are being unveiled every now and then. This is also slated to stimulate the market further in the future.
Global Automotive Telematics Market: Geographical Outlook
Geographically, the global automotive telematics market can be divided into Europe, North America, Asia Pacific, and the Rest of the World. Among them, North America holds a sway over the market with maximum share on account of the strong regulatory support geared towards road safety. Europe follows in the second position despite taking a hit from the recession triggered by 2008 market crash. The rising thrust on the safety of drivers coupled with the presence of a number of automotive telematics hardware suppliers such as Delphi, Robert Bosch, Magneti Marelli, etc. has led to a spike in demand of telematics in the Europe market.
Going forward, the Asia Pacific market will likely be driven by an upswing in manufacturing and sale of automobiles in the region. However, the growth in Asia Pacific automotive telematics market is predicted to be lackluster because of the shoddy infrastructure, dearth of government support, and limited awareness about road safety systems. The expanding reach of automobile behemoths such as Volkswagen, General Motors, Audi, and BMW might bring about awareness in the future.
Companies Mentioned in Report
The key players operating within the global automotive telematics market currently include DigiCore, ID Systems Inc., Fleetmatics IrL Limited, Teletrac Inc., Autotrac, Trimble Navigations and Omnitracs LLC, Masternaut Limited, TomTom Telematics, and Telogis.
Browse Full Report@ http://www.transparencymarketresearch.com/automotive-telematics-market.html
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Transparency Market Research is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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