Automotive Telematics Market Next Big Thing | Major Giants Inseego Corp, Visteon Corporation, Bosch, DENSO CORP., General Motors Co., Valeo SA, HARMAN International Industries Inc.

The global automotive telematics market is expected to attain $149.9 billion in revenue in 2030. In 2019, the market was valued at $27.7 billion, and it is predicted to shoot up massively during the forecast period (2020-2030), with a CAGR of 16.6%. The major reasons behind this rapid rise of the market are the increasing demand for better safety features in vehicles, rising sale of connected vehicles, and growing implementation of supportive government measures and regulations.

Significant players in the market include Inseego Corp., Visteon Corp., DENSO CORP., General Motors Co., Telefonica SA, TomTom NV, Trimble Inc., and Masternaut Ltd.

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The growing demand for enhanced safety features in vehicles that will lead to increased passenger safety and an efficient road traffic system is one of the major factors fueling the surge in the automotive telematics market value. Some of the major outcomes of road transportation are road traffic and serious accidents and deaths, and the main reason behind most of them is human error. However, with the wide-scale utilization of various telematic solutions, the prevalence of such fatal accidents can be reduced considerably.

Globally, North America had the largest share in the automotive telematics market, in terms of revenue, in 2019. The main factor behind this was the large-scale implementation of supportive government regulations. For instance, the Federal Motor Carrier Safety Administration (FMCSA) in the U.S. has made it mandatory for the commercial vehicles in the country to install electronic logging devices (ELD), which caused a huge spike in the demand for automotive telematic solutions, thereby leading to the market growth in the region.

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Hence, the market, on account of the increasing global demand for automotive telematic solutions, in order to increase road and vehicle safety and enable efficient traffic management, is set to witness a massive boom in the coming years.

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Global Market Size and Forecast
5.1 By Vehicle Type
5.2 By System Type
5.3 By Service
5.4 By Communication Technology
5.5 By Region

4.4 Market Dynamics

4.4.1 Trends
4.4.1.1 Increasing number of partnership and collaborations
4.4.1.2 Rising application of telematics solutions in off-highway vehicles

4.4.2 Drivers
4.4.2.1 Rising demand for improved safety features in vehicles
4.4.2.2 Increasing adoption of connected vehicles
4.4.2.3 Existence of supportive government regulations
4.4.2.4 Impact analysis of drivers on market forecast

4.4.3 Restraints
4.4.3.1 Threat of cyberattack and data breach
4.4.3.2 Increase in vehicle price
4.4.3.3 Impact analysis of restraints on market forecast

4.4.4 Opportunities
4.4.4.1 Introduction of autonomous vehicles
4.4.4.2 Shift toward 5G technology from 4G LTE

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The global automotive telematics market is fragmented in nature, with major players, including Teletrac Navman US Ltd., MiX Telematics Ltd., Verizon Communications Inc., Robert Bosch GmbH, Valeo SA, and HARMAN International Industries Inc., are operating independently in the different countries and cities across the world.

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