APAC Automotive Telematics Market Analysis and Forecast 2020: By Keyplayers
Telematics in automotive is an interdisciplinary field that includes vehicular technologies namely road safety, road transport, sensors, multimedia, and telecommunications. In layman’s terms, telematics is a piece of technology of sending, receiving, and storing information using telecommunication devices. Telematics has many applications in automotive including mobile data, auto insurance, vehicle tracking, container tracking, fleet management, intelligent vehicle technologies, an emergency warning system for the vehicle, car sharing, satellite navigation, etc. Systems such as automatic driving systems, driving assistance systems, vehicular emergency warning systems, APAC positioning system (GPS) navigation, and wireless safety communication have been created by an automotive telematics system.
Key players operating in the APAC automotive telematics market are Denso Corporation, Panasonic Corporation, Clarion, Masternaut Limited, Continental AG, Qualcomm Technologies, Inc. LG Electronics, Harman International Industries, Inc., Trimble Inc., and I.D. Systems.
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Market Dynamics- Drivers
1. Increasing investments in road and telecom infrastructure by governments is expected to drive growth of the APAC automotive telematics market during the forecast period
Many countries around the world have realized the importance of robust road and telecom infrastructure since both of these parameters are directly connected to the economy of the country. For instance, the government of India has allocated US$ 80.4 million to build infrastructure as per National Rural Internet and Technology Mission. Moreover, in China, from 2013–2017, the total expenditure for LTE wireless infrastructure is expected to amount to US$ 26.9 Bn. Thus, these factors are expected to drive the APAC automotive telematics market growth during the forecast period.
2. Growing acceptance of novel technology is expected to propel the APAC automotive telematics market growth over the forecast period
Common populace in Asia Pacific is embracing advanced technology and gadgets such as wearable, smartphones, laptops, tablets, telecommunications and other devices. This is an emerging trend in the region and is expected to continue during the forecast period. According to Coherent Market Insights (CMI)s’ analysis, the number of smartphones in the Asia Pacific region is forecasted to rise to nearly 700 million units in 2017 from almost 390 Mn units in 2013. According to the same source, the number of tablets and other portable computers is also expected to increase to over 56 million units in 2017 from almost 30 Mn units in 2013. Thus, rising acceptance of advanced technology is expected to boost the APAC automotive telematics market growth over in the near future.
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1. High growth in transpiration and logistics market can present lucrative growth opportunities
The transpiration and logistics market in Asia Pacific has witnessed significant growth in the recent past. This is owing to many countries in the region such as Indonesia, Australia, India, Malaysia, and China significantly investing in transportation and logistics facilities to improve existing infrastructure. According to Coherent Market Insights’ analysis, the Asia Pacific transportation and logistics market is expected to register a CAGR of 7.6% to reach US$ 4.09 Tn in 2016, resulting in increased sales of fleet management systems.
2. Increasing demand for vehicles in the region can pose significant business opportunities
According to Coherent Market Insights’ analysis, the APAC automobile industry’s yearly growth rate is expected to exceed 5.5% from 2010 to 2015, reaching a value of more than US$ 5.1 Tn by FY 2015. Moreover, the industry also involves significant research and development activity, representing an investment of nearly US$ 85 Bn (FY 2013).
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1. Rising emphasis on remote vehicle diagnostics
The importance of remote vehicle diagnostics is growing rapidly across the globe. It identifies mechanical or electrical problems in the vehicle, which is then automatically transmitted to the manufacturer service organization. According to CMI’s analysis, Asia Pacific automotive telematics diagnostic end-use market value is expected to grow from 1,708 Mn to 3,147 Mn during forecast period, with a CAGR of 10.7%.
2. Integration of advanced software platform
Software platform enables users to control mobile apps with voice controls. For instance, in 2015, Ford Motor Company launched Ford Applink platform in Taiwan, New Zealand, and Thailand. This application platform allows users to control mobile applications with voice controls. Furthermore, a rear-view mirror telematics unit is equipped with an LTE communication module, which is the first application in the Japanese car electronics market that uses cloud services.
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