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Explore Global Telematics Market Size, Share, Development, Growth and Demand Forecast to 2022
Telematics Market
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North America dominated the global market; however Asia-Pacific is estimated to grow at the highest pace during the forecast period. The high cost of telematics equipment and hacking threats are the key restraints in the global market. The poor internet infrastructure in the developing countries is also hindering the adoption of telematics.
With the advancement in technology, the demand for connectivity is increasing everywhere. Vehicle telematics, trailer tracking, and container tracking are the common application areas of telematics. They are used to transform automobiles into communication objects. Earlier telematics were integrated only on premium vehicles; now it’s either offered as standard feature on select vehicles, or as an option for the low-priced vehicles. It also enables patient’s health tracking while travelling.
In order to assure vehicular safety, the government in several countries has been promoting the use of telematics in vehicles. For instance, eCall project promoted by European Commission (EC) was adopted in Europe in 2013. eCall is targeted to provide assistance to motorists, who have met with road accident and are unable to speak due to injuries. It is applicable for the vehicles in which telematics is installed. The government of China rolled out a program in 2014 that promotes the use of fleet management solution in every vehicle. In Brazil, a program known as SIMRAV has been introduced to monitor and control crimes associated with vehicles. This program is also operated with the help of telematics.
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The key competitors in the global telematics market include Verizon Communication Inc., Harman International Industries Inc., TomTom International BV, AT&T, Vodafone Group Plc, Ford Motor Company, BMW Group, Telefonica SA, MiX Telematics, Trimble Navigation Ltd.
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