Press release
Automotive OEM Telematics Market Rising Trends and Technology Outlook 2021 – 2030
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Competitive Landscape
Some of the major market players in the automotive OEM telematics market include Verizon 103, Harman, TomTom, AT&T, Vodafone Group Plc, Ford Motors Co., BMW, Telefonica, MiX Telematics, Trimble Navigation Limited among others. The past endeavors, present developments and futuristic advancements, sum-up to comprehend the overall automotive OEM telematics market growth.
For instance, in January 2020, Continental AG presented a new online platform that automates and standardizes software development and integration into the vehicle. Car makers and suppliers get benefitted in the vehicle development process by saving time as well as money, along with reducing costs for all involved parties, and enhanced software quality with the Continental Cooperation Portal.
Furthermore, in January 2020, one of the key players of the global automotive OEM telematics market, Qualcomm Technologies, Inc., and Sasken Technologies Ltd., partnered to extend engineering and customization support for automotive customer base. Through this collaboration, the global engineering teams of Sasken Technology strategizes to develop and provide its assistance in the deployment of automotive platforms and solutions from Qualcomm Technologies. Qualcomm technologies expands its presence throughout the automotive segment with this merger.
Market Dynamics and Trends
The automotive OEM telematics market is gaining momentum due to stringent government regulations regarding safety and security, rising awareness in consumers about connectivity solutions, as well as growing trends of AI and IoT in system installations. Besides, benefits offered by telematics services such as smart transportation system, ease in vehicle diagnosis, all time connectivity approach, as well as enhanced performance of automotive vehicles are propelling the growth of global automotive OEM telematics market.
Furthermore, increasing market trend towards the adoption of smart gadgets majorly laptops, smart phones, tablets, and other such advanced technological goods, specifically in the emerging economies, are expected to supplement the growth of the automotive OEM telematics market over the forecast period.
However, high installation and maintenance cost, threat of data hacking, plus lack of skill-set in using complex technologies are expected to inhibit the growth of automotive OEM telematics market.
Moreover, increase in government initiatives towards public safety, increasing awareness in consumers regarding security concerns, advancements in the global navigation systems, ongoing R&D activities in automotive telematics, innovative product launches as well as advancements in product technologies by market players, are responsible in creating lucrative opportunities in the global automotive OEM telematics market in coming future.
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Market Segmentations and Scope of the Study:
The global automotive OEM telematics market share analysis is based on vehicle type, application, and geography.
Based on vehicle type, the market is segmented into Passenger Car, Two-Wheelers, HCV, MCV and LCV. Based on application, the market is further classified into solutions and services. The services segment is divided into Design and consulting, Integration and deployment, Maintenance and training and Data acquisition from vehicle bus network. The solution segment is further categorized into Fleet/Asset management solution, Navigation and location-based Solution, Infotainment, Insurance telematics, V2V and V2I, Tele-health solutions, Remote alarm and monitoring, Remote diagnostic and Driver and vehicle performance analytics. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America dominated the global automotive OEM telematics market, and is expected to maintain its dominance throughout the forecast period, holding the highest market share. This is attributable to factors such as stringent regulatory standards regarding public safety, advanced diagnostic systems, high-tech navigating systems, as well as stable and well-established automotive infrastructures.
Asia Pacific region is expected a substantial growth in the global automotive OEM telematics market, with the highest CAGR values, owing to increasing government initiatives towards public safety, more inclination towards the use of smart gadgets, increasing demand of safety features to cope up with emergency, and developments in navigation systems in this region.
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