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New Product Launches in the Automotive Telematics Market to Propel Its Growth

11-28-2018 10:50 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
New Product Launches in the Automotive Telematics Market

Recent innovations in automotive telematics have greatly pumped up their demand. Considering this, technological applications of telematics solutions in vehicles have completely transitioned over the years. Various factors are steering this paradigm shift and new product launches with add-on features is key factors bolstering growth of the market. For instance, Agero, Inc., a market leader in software-enabled driver assistance services for automotive manufacturers and insurance providers in North America, today announced Driver360, a holistic mobile solution that utilizes a smartphone’s native sensors to provide automatic crash detection, response and prevention, without the need for additional hardware.

The global automotive telematics market to reach US$75.79 bn by the end of 2025, from its valuation of US$10.15 bn in 2016. In the last five years the market has witnessed robust growth in response to the expansion of the automotive industry.

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Regionally, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa constitute the key market segments. Among these, Asia Pacific led the overall market with a share of 33.5% in 2016. North America emerged as the second-leading market for automotive telematics, followed by Europe.

Besides the increasing demand from emerging nations such as China and India, Russia has proven to be a major market for automotive telematics in Asia Pacific. In addition, the region is home to a booming automotive industry, which invariably creates the demand for advanced technologies for better driving experience.

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While China is the leading market for automotive telematics in Asia Pacific, India will exhibit the highest CAGR during the forecast period. In Europe, France held the largest market share while in North America, the U.S. will continue exhibiting lucrative opportunities.

Transparency Market Research (TMR) 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. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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