Press release
Automotive Telematics Market is expected to Reach US$ 81.1 Bn by the end of 2026
Automotive Telematics Market 2022
The estimated value of the global automotive telematics market in 2018 is US$ 42.62 Bn, which is expected to expand at a CAGR of 8.4% to reach US$ 81.1 Bn by the end of 2026. The APAC automotive telematics market is projected to be valued at 12,199 Mn, accounting for a 28.6% value share in 2018. By 2026, this value is projected to reach US$ 25,921 Mn, i.e. a 32.0% value share, exhibiting a CAGR of 9.9%.
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Persistence Market Research has rolled out a new market research report on "Automotive Telematics Market: Global Industry Analysis 2013 - 2017 and Forecast 2018 - 2026", which examines the automotive telematics market and offers critical insights for the next eight years. Based on the findings specified in the report, the market is expected to witness an increase in the number of safety and security regulations for vehicles and increase in wireless technology for necessary vehicle operations such as door locking or unlocking, start or stop, tire pressure, wear and tear of vehicle components, location and others.
Key Companies-
• Trimble Inc.
• Visteon Corporation
• Airbiquity Inc.
• Aplicom Oy
• Scorpion Automotive Ltd.
• iTriangle Infotech Pvt Ltd.
• Shenzhen Concox Information & Technology Co., Ltd.
• MINDA CORPORATION LIMITED
• idem telematics GmbH
• ROAD TRACK
• ACTIA Group
• LAVINTA BUANA SAKTI
• Microlise Limited
• BOX Telematics
• REDTAIL Telematics Corporation
• Others.
Complete Report Details@https://www.persistencemarketresearch.com/market-research/automotive-telematics-market.asp
Global and APAC Automotive Telematics Market Dynamics
On the flip side, lack of awareness regarding wireless technology and heterogeneous language and culture are projected to hinder the growth of the APAC automotive telematics market. In Asia, multiple languages are used, very unlike the United States where English is the default language. Automotive telematics service providers need to integrate product/content localization as well as customized user interface design to accommodate the diversity in language and culture in Asia.
Automotive Telematics Market Segmentation
By vehicle type, the passenger segment is projected to dominate the automotive telematics market, owing to the increasing demand, coupled with government initiatives, particularly for vehicle safety and security. The passenger vehicle segment is projected to be valued at US$ 10,608 Mn and account for an 87.0% value share in the APAC automotive telematics market by 2018 end. By 2026, this value is projected to reach US$ 22,118 Mn and account for an 85.3% value share.
By technology type, the embedded segment is projected to dominate the APAC automotive telematics market, owing to the increasing number of vehicle safety regulations in the region. The embedded segment is projected to be valued at US$ 9,392 Mn and account for a 77.0% value share in the APAC automotive telematics market by 2018 end. By 2026, it is projected to reach US$ 20,800 Mn, accounting for an 80.2% value share with a CAGR of 10.5% during the forecast period.
Among sales channel segments, the OEM segment is projected to dominate the APAC automotive telematics market, owing to the implication of government rules and norms for the installation of telematics devices in vehicles. The OEM segment is projected to be valued at US$ 9,309 Mn, accounting for a 76.3% value share of the APAC automotive telematics market by 2018 end. By 2026, this value is projected to reach US$ 20,573 Mn with a CAGR of 10.4%.
Among end use segments, the safety and security segment is projected to dominate the APAC automotive telematics market during the forecast period. It is projected to be valued at US$ 3,511 Mn by 2018 end, accounting for a 28.8% value share of the APAC automotive telematics market. By 2026, this value is projected to reach US$ 7,569 Mn, accounting for a 29.2% value share with a CAGR of 10.1% during the forecast period.
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Key Questions Answered in Automotive Telematics Market Report -
• What will the Automotive Telematics Market growth rate in Future?
• What are the key factors driving the global Automotive Telematics Market?
• Who are the key manufacturers in Automotive Telematics Market space?
• What are the opportunities and threats faced by the vendors in the global Automotive Telematics industry?
• What are sales, revenue, and price analysis by regions of Automotive Telematics industry?
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