Automotive Telematics 2016 Major Key Vendors – Telefonica, Telenor Connexion, BMW AG and General Motors Forecast 2024

Automotive Telematics Market

Summary 

Automotive telematics is an advanced automated systems designed for the users of automobiles that assimilate cellular communication systems. Automotive OEMs provides connected car services with several connectivity options such as embedded telematic devices, tethered devices and smartphones connectivity. Automobile manufacturers often use a combination of these technologies to meet the requirements of different customers and to keep pace with rapid development in mobile technology. The global automotive telematic market is anticipated to grow significantly owing to rising number of road accidents and security concerns of user. Government automotive safety norms and regulations favoring the implementation of telematics in commercial and passenger vehicles are also expected to be the major factor behind the positive growth of global automotive telematics market. 

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Growth Drivers and Restraints 
Transport and logistics industry are becoming more dependent on vehicle telematics for remote monitoring and for tracking safety of vehicles and goods. Additionally, advancement in vehicle-to-vehicle connectivity is expected to strengthen the growth of telematic market in transportation and logistics industry. Growing electric vehicles market across the globe is also expected to impact on the growth of automotive telematics market. Global market witnessed the rapid growth in sales of electric vehicles from 35,000 units in 2011 to more than 2.5 million in 2015. Embedded telematics are essential for advanced plug-in electric cars to locate nearby charging station, to make reservation at charging station and to check status of charging remotely.

In 2015, more than 50% of the total handsets shipped were smartphones. Smartphones connectivity is one of the major segments which is provided by OEMs as the standard feature, as smart phones provides wide range of features such as infotainment connectivity, phone calls and to read texts and e-mails. Smart phones connectivity also provides access to media content, internet connectivity and social networking apps. Therefore, to accommodate changing consumer preferences, OEMs are looking forward to collaborate with smartphone manufacturers to provide in-Vehicle infotainment services. Governments in various regions mandate the regulations to provide automobiles with telematics services such as stolen vehicle tracking and emergency calls.

Market Size and Forecast 
The global automotive telematics market accounted USD 17.38 billion in 2015 and is anticipated to expand at a compound annual growth rate of 24.2% over the forecast period i.e. 2016 to 2024. The estimated value of automotive telematics market by 2024 will be approximately USD 98.76 billion owing to spiked adoption of telematics systems in automotives. 
Moreover, the total shipments of OEM embedded telematic devices accounted for more than 12 million units across the globe in 2015. The shipments are expected to reach 55 million units by 2024 with compound annual growth rate of 20.9%. 

Table of Contents 

Table of Contents 
1. Parent Market Synopsis 
2. Executive Summary 
3. Research Methodology 
4. Regional Opportunity Analysis on the basis of Competitors 
5. Global Automotive Telematics Market Size (USD Billion) and Forecast Analysis, 2016-2024 
6. Market Dynamics: Growth Drivers, Restraints and Opportunities 
    6.1. Risk Factors 
    6.2. Regional Variations 
    6.3. Recent Trends and Developments 

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