Automotive Telematics Solution Market By Leading Players, Future Applications, Trending Regions and Industry Share Estimate by 2026

The rise in the number of customers using Global Positioning System and loT based application is likely to favor market growth says Fortune Business Insights in a report titled "Automotive Telematics Solution Market Size, Share and Global Trend by Applications (Vehicle Tracking, Fleet Management), By Vehicle Type (Passenger Vehicles, Light, Heavy Commercial Vehicles), By Distribution Channel (OEM, Aftermarket) and by Geography Forecast till 2026". Fast adoption of platform-as-a-service (PaaS) technology and digital radio modules in connected vehicles are expected to drive the growth of the automotive telematics solution market during the forecasted period says Fortune Business Insights.

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Some of the major players in the global automotive telematics market include ID Systems Inc., Autotrac, Teletrac Inc., Trimble Navigations and Omnitracs LLC, FleetmaticsIrL Limited, DigiCore, MiX Telematics, Airbiquity Inc, Masternaut Limited, Telogis, and TomTom Telematics among others.

"Increasing Demand For Diagnostic Data To Act As A Driver For The Automotive Telematics Market"

The implementation of stringent regulations to promote vehicles and passenger safety is likely to drive the growth of the automotive telematics market. Other aspects such as increased sales of mid and premium segment vehicles, growing inclination toward entertainment services, technological developments in 5G technology and autonomous vehicles are likely to boost the global market. The escalating demand for upgraded vehicle performance is driving the growth of the telematics solutions market.

The navigation and safety area is predicted to acquire the maximum share in the automotive telematics market. The segment is driven by increasing consumer demand and rising adoption by automotive OEMs. Advancements in processing capabilities of the telematics control unit have introduced innovative features such as interactive voice-based command interfaces that are integrated into vehicles. The increasing improvements in the felid of semi-autonomous vehicles and the production of premium cars are offering innovative driver safety features besides the 3D navigation services.

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Increased developments in semi-autonomous vehicles and high-end cars are offering progressive driver safety. Besides that, various new passenger cars provide a free trail for infotainment services. however, the plan for renewal subscription is essential after the free trial is completed. The increasing demand for traffic and routing facilities along with continuous infrastructural developments are also expected to drive the telematics.

"Rising Demand for Connected Vehicles Identified as Key Growth Driver"

Global positioning system (GPS), loT based applications and advancement in near field communication are contributing to the growth of the global market. In addition, the rise in demand for connected vehicles, a fast adaptation of platform-as-a-service (PaaS) technology, and radio modules are likely to boost the automotive telematics solution market growth in the upcoming years.

For instance, in 2018, Trimble Inc. acquired Viewpoint from Bain Capital with an aim to strengthen connected vehicle services worldwide. This acquisition with an objective to deploy an IoT based M2M resource management within their project operations in all sorts of vehicles which further leads to better decision making, improved safety, and higher profitability.

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"North America to Exhibit High Demand for Automotive Telematics"

The maximum market share in the global automotive telematics solutions market is expected to be acquired by North America during the forecasted period. The expansion is due to the high demand for human-machine interface, technology and installation of black boxes for security and safety services in vehicles. Furthermore, countries such as China and India are likely to drive the automotive telematics market owing to the rise in safety, regulations and security by the government.

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