Technological Advancements contribute to the Booming Growth of the Global Automotive Telematics Market

Inkwood Research anticipates that the Global Automotive Telematics Market is evaluated to register a CAGR of 21.36% in terms of revenue during the forecasted years of 2021-2028.
"Browse 77 Market Data Tables and 48 Figures spread over 223 Pages, along with an in-depth TOC on the Global Automotive Telematics Market Forecast 2021-2028."

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In the automobile industry, telematics is a communication technology that functions on the basis of information generated from vehicles through wireless networks. It integrates security, safety, communication, and navigation, into one technology.

Advancements in Automotive Technologies propel Market Growth
There is an increasing demand for automotive due to rising globalization. Technological advancements minimize the time required for developing, and enable greater flexibility. Premium features like navigation systems are in huge demand in automotive. Automotive navigation systems utilize GPS navigation devices for locating users of the road, and are installed in automobiles. These systems have led to an increased number of devices and gadgets. They capture images of the location and include personal information management and meeting and anniversary reminders. Further, telematics enhances routing aided by navigation services. It integrates GPD tracking with engine monitoring to minimize labor costs and manage fleet efficiency.
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Two-Wheelers are the Fastest-Growing Vehicle Type
Two-wheeler is a vehicle of convenience and affordability. Telematics is evaluated to be beneficial for a fleet of bikes, motorbikes and bicycles included. For instance, bike-sharing companies, police & emergency organizations, food delivery companies, courier service companies, etc. GPS telematics increases the productivity of a commercial motorbike fleet, keeping their profits optimal. The owner can access the movements of bikes and track comprehensive reports of trips made by the bike. This betters the trip efficiency and driver output. It will also help in assigning jobs and avoid delivery delays.

North America dominated the Global Market in 2020
The region encompasses a growing demand for commercial vehicles in countries like the US. The market prospects of North America are attributed to the increasing adoption of telematics like fleet management and navigation systems. The rising demand for passenger cars and light commercial vehicles is also estimated to drive growth in insurance telematics. The other main growth driver is the presence of major players.
The considerable competition among the existing players is attributed to large-scale investments and expanding portfolios. Intel Corporation, AT &T Inc, Qualcomm Technologies Inc, Masternaut Limited, etc., are among the market's key players.

Related Reports:
GLOBAL COMMERCIAL VEHICLE TELEMATICS MARKET
GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEMS (ADAS) MARKET
GLOBAL SMART FLEET MANAGEMENT MARKET

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