Press release
Automotive Telematics Market is Projected to reach USD 17.8 billion in 2029, and Growing at a CAGR of 11.4% | Size, Industry Share & Analysis
Automotive Telematics Market
Automotive Telematics Market Touched USD 7.5 billion in 2021 and is expanding at a compound annual growth 11.4% over the period, 2022-2029 and is Expected to reach USD 17.8 billion in 2029.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/automotive-telematics-market/
The factors driving the growth of Automotive Telematics Market includes Government regulations regarding vehicles telematics, growing focus on improving road safety, commercialization of 5G technology and increasing adoption of intelligent transportation systems around the world. According to the report published by Bloomberg, the Global Intelligent Transportation System (ITS) Market was calculated around USD 901.4 million in 2021 and is expected to reach USD 610.8 million by the end of 2028, growing at a CAGR of 8.2% over the forecast period (2022-2028), which will accelerate the market growth in the approaching years. Moreover, rise in the installation of connectivity solutions in the automobiles, growing demand for advanced safety features in automobiles and increasing adoption of advanced technologies in the automobile industry such as Artificial Intelligence (AI) and Internet of Things (IoT), are some of the additional factors supplementing the Automotive Telematics Market Share. In addition, the increasing investments by leading players on research and development, rising disposable incomes, rapid urbanization, and growing population growth rates, are further propelling the Automotive Telematics Market size.
However, the growth of Automotive Telematics Market is hindered attributed to high installation cost of automotive telematics.
The major players operating in the market are HARMAN International, Verizon, Teletrac Navman US Ltd, Masternaut, Cartrack, Omnitracs, I.D. Systems Inc., MiX Telematics, Trimble Inc. and TomTom International BV., among others.
Based on Connectivity Solutions, the Embedded segment is predicted to capture the largest market share during the forecast period
Embedded connectivity offers built in telematics control unit, enhances user's experience along with Government regulations mandating the use of embedded connectivity, are propelling the growth of the segment.
Based on Application, the Fleet/Asset Management segment is projected to grow at a significant CAGR over the forecast period
Fleet management software minimizes the excess fuel usage, eliminate risky driver habits, and provides efficient routes, are some of the factors responsible for the segment's growth.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Rise in the number of automobile manufacturers, rapid economic growth across India, China and Indonesia in the last decade, increasing disposable incomes, growing focus on road safety and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Key Development
In 2020, Masternaut, a Michelin Group Company, partnered with Fraikin, the largest commercial vehicle fleet services company. Trhoug this partnership both the companies plan to offer connected fleet management tools and services to one of the big four supermarket's 3000 online order delivery vehicles.
In 2020, Omnitracs, a leader in SaaS-based fleet management and data analytics solutions, entered into an agreement to acquire SmartDrive, a leader in video-based safety and transportation intelligence. Through this acquisition, Omnitracs, aims to provide end-to-end platform that optimizes driver productivity and workflow, safety, routing, compliance, and dispatch to provide end-to-end platform that optimizes driver productivity and workflow, safety, routing, compliance, and dispatch.
Market Segmentation
Segmentation by Connectivity Solutions
Embedded
Integrated smartphones
Tethered
Segmentation by Application
Fleet/Asset Management
Navigation & Location-based System
Infotainment System
Insurance Telematics
Safety & Security
Others
Segmentation by Vehicle Type
Commercial Vehicle
Passenger Car
Two-Wheeler
Segmentation by Channel Type
OEM
Aftermarket
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/
Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland
GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Telematics Market is Projected to reach USD 17.8 billion in 2029, and Growing at a CAGR of 11.4% | Size, Industry Share & Analysis here
News-ID: 2774430 • Views: …
More Releases from GMI Research
OLED Market is projected to rise at a higher CAGR during the forecast period | S …
The OLED Market is anticipated to expand at a remarkable CAGR during the forecast period
For Additional Insights, Click to Access Complete Report -
https://www.gmiresearch.com/report/global-oled-market/
The factors driving growth of the OLED Market includes increasing penetration of smartphones and gaming consoles around the world, Government policies supporting OLED lighting research, growing popularity of smart Televisions and improvements in the living standards. For instance, the revenue generated from the sales of video game consoles…
3D Printed Drugs Market is growing at a CAGR of 4.2% over the forecast period | …
The 3D Printed Drugs Market is growing at a CAGR of 4.2% over the forecast period.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-3d-printed-drugs-market-by-technique-type/
The factors driving growth of the 3D Printed Drugs Market includes increasing geriatric population around the world, growing demand for soluble drugs, rising prevalence of stroke, Alzheimer's disease and head and neck tumors and improvements in the living standards. For instance, the population aged 60 and…
Virtual Private Cloud Market is expected to grow at a higher CAGR of 23.4% over …
The Virtual Private Cloud Market is projected to grow at a CAGR of 23.4% over the forecast period.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-virtual-private-cloud-market/
The factors driving growth of the Virtual Private Cloud Market includes huge volumes of data generated across BSFI, Healthcare and Media & Entertainment industries, rising focus by companies on modernizing IT infrastructure, Government initiatives promoting digitalization, increasing number of data breaches reported around the…
Pest Control Services Market is poised to grow at a robust CAGR during the forec …
The Pest Control Services Market is estimated to grow at a robust CAGR over the forecast period
For Additional Insights, Click to Access Complete Report -
https://www.gmiresearch.com/report/pest-control-services-market/
The factors driving growth of market includes increasing demand for pest control services from hospitality, pharmaceutical, and food processing industries, growing focus on using biocides, rising concerns related to climate change, and improvements in the living standards. For instance, the market value of biocides worldwide was…
More Releases for Telematics
Construction Equipment Telematics Market Is Booming Worldwide | Rosenberger Tele …
The latest study released on the Global Construction Equipment Telematics Market by AMA Research evaluates market size, trend, and forecast to 2030. The Construction Equipment Telematics market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Download…
Telematics Market SWOT Analysis, Business Growth Opportunities by 2032 | MiX Tel …
The latest Global Telematics Market research report 2022 provides detailed information about the market overview, prevalent trends, demand, and recent developments impacting the market growth during the upcoming years. The Telematics market report also covers the market size, share, potential growth, and market strategy followed by prominent players. This report also includes profiles for major companies within the market. The report focuses on the Telematics Market size, segment share (product…
Drone Telematics Market 2021 Strategic Assessments - Octo Telematics, Verizon Te …
The Global Drone Telematics Market Size, Status and Forecast 2021
The Global Drone Telematics Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances…
Coronavirus Impact Assessment on Insurance Telematics Market 2020-25 Business In …
Telematics car insurance is when your insurance provider monitors your driving habits and adjusts your car insurance premiums based on how you drive. Provider will be able to track things like your driving speed, how you brake and how you handle corners.
The research report on 'Insurance Telematics market' is now available with Market Growth Insight with detailed study on crucial factors, such as drivers, hampering factors, strengths, weakness, trends,…
What's driving the Drone Telematics Market trends? Octo Telematics, Verizon Tele …
Market Research Intellect has recently published a report on the Global Drone Telematics Market, which presents a detailed market analysis and gives accurate market forecasts for the coming years. The study serves as an exhaustive database for any individual or company interested in the Drone Telematics sector, offering essential information about the industry to help readers make strategic investments. The study includes vital information about the market, which is pictorially…
Global Telematics Software Market 2019, Global Telematics Software Market Price, …
Global Telematics Software Market Growth (Status and Outlook) 2019-2024 gives detailed insight, industry knowledge, analytics, and market forecasts for 2019 to 2024 time period. The report provides market-driven results derived from feasibility studies for client needs. The report verifies qualified and verifiable aspects of Telematics Software market data operating in the real-time scenario. The research study aims to assist industry leaders to make confident capital investment decisions, develop strategic plans,…
