Automotive Embedded Telematics Market Growth, Size, Forecast, Top Companies Profiles, Market Research Report

The global automotive embedded telematics market size is anticipated to reach USD 87.3 Billion by 2030, registering at a CAGR growth of 20.9% over the forecast period. Trending technological innovation of including cell phone applications dependent on iOS and Android stages is relied upon to change the present situation of vehicle network. Earlier, Bluetooth was the main mechanism of associating cell phones to the vehicle remotely; nevertheless, in coming years, rising adoption of efficient and smart infotainment and navigations systems in luxury car segment is the major driver for the adoption of automotive embedded telematics technology and solutions.

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Growing digit of road accidents is driving the demand for augmented public safety and increasing government support for educating and improving the traffic management is anticipated to further increase the automotive embedded telematics market during the forecast period. Further the technology also helps in evading traffic congestion and therefore, aids reduce excessive fuel consumption Also, technological progressions in automotive electronics for instance cloud technology are being used for vehicle platooning, which is expected to boost the automotive embedded telematics market in the recent years.

Safety assistance technology and Infotainment systems are the two major trends driving the demand for automotive embedded telematics market in forthcoming years. The need for infotainment service as a key automotive embedded telematics service is rising among all segments of passenger cars and numerous commercial vehicles.

Also many countries such as U.S and U.K are promoting road safety technology and device, which may further, expected to drive the growth of the global automotive embedded telematics market. Apart from providing safety solutions automotive embedded telematics is projected deliver promising solution to reduce the number of road accidents automotive embedded telematics also provide features such as remote diagnostics, 24/7 connectivity, navigation, multimedia streaming, and improved vehicle maintenance service are few other feature attracting consumer to surge the sale of automotive embedded telematics.

Geographically, the automotive embedded telematics market is bifurcated into Europe, Asia Pacific, North America, MEA, and Latin America. North America, followed by Europe, is anticipated to capture the major share in the automotive embedded telematics market. This development is credited to increasing acceptance of latest technologies, and the occurrence of research and development centers. Asia Pacific is anticipated to observer lucrative during the forthcoming years crediting to increase in disposable income, improvised technology infrastructure, increasing need for better and advance technology solution.

The global automotive embedded telematics market is segmented into component, solution, application and region. On the basis of component the global automotive embedded telematics market is segmented into hardware, service, and connectivity. On the basis of solution, the global automotive embedded telematics market is segmented into safety & security, information & navigation, entertainment, and remote diagnostics. On the basis of application the global automotive embedded telematics market is segmented into passenger cars, and commercial vehicles. On the basis of region the global automotive embedded telematics market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.

Asia Pacific is anticipated to observer the highest CAGR during the forecasted timeframe. Growing disposable income are expected to increase the development of the regional automotive embedded telematics industry. North America captures the market in 2018 owing to increase in continuous launch of new product portfolio associated to automotive embedded telematics by main key players. Also, inventive marketing strategies being accepted by main companies to encourage and automotive embedded telematics market and associated products are expected to inspire end users to accept these products, which in turn will stimulate the development of the regional automotive embedded telematics market.

The key players catering to the global automotive embedded telematics market are Verizon Connect, Ford Motor Company, BMW Group, Continental AG, INFINITI Motor Company Ltd., General Motors Company, MiX Telematics International Ltd., TomTom Telematics BV, Toyota Motor Corporation, and Hyundai Motor Company. The global players are continuously investing in R&D and innovating new product portfolio to attract more and more business opportunity from the emerging nation such as India and China. Also, Increasing R&D investments coupled with technological advancements to commercialize highly efficient products are anticipated to offer lucrative opportunities for industry participants.

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