Automotive Telematics Market is Set to be a Billion Dollar Industry by 2020 According to Market Forecasts

FMI delivers key insights on the Global and Asia Pacific Automotive Telematics market in its latest report titled ‘Automotive Telematics Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014-2020.’ The long-term outlook on the Asia Pacific Automotive Telematics market remains positive with the market value expected to increase at a CAGR of 11.6% during the forecast period (2014-2020). Among vehicle types, the passenger vehicle segment is expected to expand at a significant CAGR in terms of value over the forecast period. The passenger vehicles segment of the Asia Pacific Automotive Telematics market is expected to hold 80% share throughout the forecast period. China is estimated to have accounted for a value share of 45.4% in the Asia Pacific Automotive Telematics market by 2014 end and is projected to be the most prominent region during the forecast period. In this report, FMI throws light on drivers and restraints likely to impact the Automotive Telematics market during this period.

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Key Factors Driving the Asia Pacific Automotive Telematics Market

The rise in the production of vehicles, especially passenger vehicles, has boosted the demand for automotive telematics. In 2013, more than 45 million vehicles were produced in the Asia Pacific, of which more than 36 million were passenger cars, the prime application area of automotive telematics.

Internet penetration has increased globally. Growing demand for wireless technologies, such as 3G and 4G, has given a major boost to the Asia Pacific automotive telematics market. The future implementation of 5G services will further enhance the market for Asia Pacific automotive telematics.

Stringent government regulations regarding passenger safety and vehicle safety will propel the demand for automotive telematics in Asia Pacific. Moreover, governments have introduced general mandatory laws regarding the implementation of navigation devices, which is projected to further propel the demand for automotive telematics.

The many advantages of automotive telematics will give the necessary boost to the market. Automotive telematics provide preventive maintenance for vehicles and reduce their chances of wear and tear as well as wear and tear of their components by providing all information related to the vehicle.

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Segmentation Analysis of the Asia Pacific Automotive Telematics Market

The Asia Pacific Automotive Telematics market is segmented on the basis of vehicle type, end use, technology type and channel type.

Passenger vehicle is projected to continue to lead the market in terms of volume and value over the forecast period. The passenger vehicle segment of the Asia Pacific Automotive Telematics market is estimated to grow at a significant CAGR over the forecast period. It is expected to represent total incremental opportunity of US$ 6 Bn between 2014 and 2020. The commercial vehicle segment is projected to grow at a relatively higher CAGR as compared to passenger vehicle segment over the forecast period.
The OEM segment is projected to be the most prominent channel type in the Asia Pacific Automotive Telematics market. The OEM segment is estimated to grow at a significant CAGR of 13.2%, in terms of value, over the forecast period.
The market for Asia Pacific Automotive Telematics is estimated to be dominated by embedded technology, growing at a significant CAGR during the forecast period. However, the market for integrated/smartphone segment is expected to grow at a relatively higher rate of 12.6%, in terms of value, during the forecast period.
Regional Market Projections of the Asia Pacific Automotive Telematics Market

The Asia Pacific Automotive Telematics market in China is expected to represent significantly high incremental opportunity between 2014 and 2020. The Automotive Telematics market in China is expected to represent a total incremental opportunity of US$ 3.3 Bn between 2014 and 2020.

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This release was published on openPR.