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“Telematics Market”-What factors are currently challenging the development and implementation of automotive technology?

04-12-2018 12:47 PM CET | IT, New Media & Software

Press release from: Future Genic Reports

“Telematics Market”-What factors are currently

Market Definition:

Commercial telematics market includes the telematics used by light, medium and heavy commercial vehicles. All major automotive manufacturers across the globe are now concentrating on developing and implementing the Telematics concept into their vehicles. Vehicles manufactured today offer unique connectivity solutions for better monitoring and tracking. The global commercial telematics market is driven by increased market penetration of smart phones, lowered connectivity cost, availability of high speed internet technologies such as LTE, greater governmental mandate in terms of safety compliance mandates, road infrastructure constraints, and driver monitoring etc.

Key Benefits

• Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market
• Porters Five Forces analysis and SWOT analysis of the key market players are provided to illustrate the business strategies adopted by buyers and suppliers
• The technology-effective drivers and opportunities are highlighted to describe the top factors responsible for the market growth
• Various operating segments of the commercial telematics market are carefully analyzed to measure the potential of the emerging market
• The quantitative analysis of the market through 2013-2020 is provided to elaborate the market potential

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Telematics technology is being increasingly used in the automotive segment for vehicle tracking and monitoring, infotainment and Usage Based Insurance (UBI). In the Healthcare sector, it is utilized to expedite diagnosis and augment treatment quality and processes. Similarly, the Government sector employs telematics technology for developing smarter cities and maintenance. The global Telematics market is expected to grow at a CAGR of 28.5% (2017-2022) leading to global revenue of USD 233.24 billion by 2022.

The Automotive telematics segment is expected to grow as automakers and fleet managers adopt the technology to minimize fuel waste, and facilitate data management for the smooth functioning of fleets and connected cars. Almost, 80-85% of telematics solutions and devices that includes infotainment, solutions and aftermarket solutions (UBI) cater to the automotive industry.

Healthcare telematics market, on the other hand, is expected to grow at a CAGR of 25.9% (2017-2022). Telematics usage in the individual (consumer) healthcare segment is expected to increase at a faster pace compared to the commercial segment. The market is also starting to witness growing demand for telemedicine applications used by health professionals for remote consultation and collaborative medical assistance.

Telematics revenue generated from the government segment is expected to witness a high growth. Government agencies need to monitor and eliminate unauthorized behavior and violation of driving rules through real-time vehicle tracking.

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Threats and key players

Although the Telematics market is expected to have a positive growth globally, still, there is lack of awareness among individual car owners and resistance about the additional expenditure related to the installation of new devices in old cars or vehicles. Many vehicle owners have concerns regarding their privacy and prefer not to let UBI companies track their daily movements.
Often, challenging economic conditions, low internet penetration and poor technology infrastructure in some regions play a major role in restricting telematics penetration. Case in point, most African countries which face various infrastructural and economic challenges.

Some of the major players in the telematics market are OCTO Telematics, AirIQ, Mix Telematics, TomTom, Airbiquity Inc., Cisco, GE Healthcare, and Philips Healthcare.

What’s covered in the report?

1. Overview of the Global Telematics Market
2. Historical, current and forecasted market size data for Global Automotive Telematics market (Fleet telematics and connected car market), Usage Based Insurance, Infotainment, Healthcare Telematics and Others sectors
3. Historical, current and forecast regional (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) market size data for Global Automotive Telematics, Usage Based Insurance, Infotainment, Healthcare Telematics and Others sectors
4. Analysis of Stakeholders and Technology Ecosystem in telematics for different segments.
5. Qualitative analysis of the major drivers and challenges affecting the Global Telematics Market and Automotive Telematics, Usage Based Insurance, Infotainment, Healthcare Telematics and Others sectors
6. Analysis of the competitive landscape and profiles of major public and private players operating in the market, which include companies who provide vehicle tracking system, telematics device, GPS fleet tracking system
7. Key recent developments in the Automotive Telematics, Usage Based Insurance, Infotainment, Healthcare Telematics and Others sectors
8. Market Trends: Automotive Telematics, Usage Based Insurance, Infotainment, Healthcare Telematics and Others sectors

About Future Genic Reports

Future Generic Reports is a market research and consulting organization, offering premium collection of market research reports, custom research and consulting services to corporations, no-profit organizations and government institutions across the globe.

The wide range of information is presented by a team of well-trained researchers of specific sectors through exhaustive research. We deliver premier market research services that cover all industry verticals, including chemicals and material, automotive, healthcare, electronics & semiconductor, food and beverage, pharmaceuticals and technology and media.

We believe in building an eternal bond with our clients through offering them inclusive research study meeting their specific requirements. Our services are tailored specifically to our clients by proposing them the potential outcome, based on our in-depth analysis and insights for exploring the growth strategies through providing the best possible decision for quality production.

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