Telematics Market Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027

Telematics Market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Market share and Market size prominent players for 2022 to 2027 are profiled in this report.

Telematics Market is envisaged to record an expansion at the CAGR of 20.7»% over the forecast period, 2022 - 2028

Competitive Landscape:

 Mix Telematics,  AT&T Inc.,  Geotab Inc.,  Verizon Telematics,  Cisco Systems Inc.,  Aplicom Oy,  Microlise Ltd,  LG Electronics Inc.,  Trimble Inc.,  Ctrack Global (Inseego Corp. Company) and Others

Industry News:

January 2020 - Geotab has launched Geotab Integrated Solution for General Motors. The offering launched at Geotab Connect 2020, which engages in helping the fleet managers to access their compatible vehicle data within the MyGeotab platform via a factory-fit, GM-engineered OnStar module. The solution intends to simplify mixed-fleet management tasks by providing businesses with the ability to oversee their entire fleet from within one platform.

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Scope of the Report

According to Towers Watson, multinational risk management, insurance brokerage, and the advisory company, the telematics technology can help reduce high-risk behaviors in the young drivers, as approximated, by more than 30%, lowering claims costs in this age group by a bare minimum of 30%. Owing to such a possibility in passenger and driver safety applications, the advanced driver assistance systems (ADAS) and solutions are witnessing increased production and usage. From 45 million units in 2014 to 54 million in 2018, ADAS production has grown significantly. It is expected to flourish in the future, with 59 million units expected by the end of 2022, as reported by the Deutsche Bank.

Key Market Trends

Smartphone Solution is Expected to Hold a Major Market Share

- Smartphone telematics uses GPS and mobile phone sensors to collect data about driver behavior, location patterns, and apply it to urban transportation, insurance, fleet logistics, automotive, and other market verticals. This information helps to analyze crucial metrics like locations, geo zones, driving style, performance, and points of interest.

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Asia-Pacific is Expected to Witness Significant Growth

- With the emergence of electric vehicle and autonomous vehicles technology, the automotive industry is witnessing a massive transformation including the development of new areas such as Advanced Driver Assistance System (ADAS), Mobility-as-a-Service providers (MaaS) and CASE, the entry of new industries utilizing IoT technology, and the emergence of new services such as ride-sharing and car-sharing. All these applications require fast data transmission, analysis, and implementation. All these factors are mainly driving the growth in the Asia Pacific telematics market.

Highlights about Telematics Market report coverage:

- A complete background analysis, which includes an assessment of the Global Telematics Market.

- Important changes in Telematics Market dynamics

- Telematics Market segmentation up to the second & third level regional bifurcation

- Historical, current, and projected size of the Telematics Market with respect to both value (Revenue) and volume (Production & Consumption)

- Reporting and evaluation of recent Telematics Market industry developments

- Telematics Market shares and strategies of key players

- Emerging niche Telematics Market segments and regional markets

- An objective assessment of the trajectory of the Telematics Market .

- Recommendations to companies for strengthening their foothold in the Telematics Market .

The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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This release was published on openPR.