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Automotive Telematics Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032
Automotive Telematics Market
The Business Research Company's Automotive Telematics Global Market Report 2023 identifies government regulations for vehicle telematics as the major driver for the automotive telematics market's growth in the forecast period. The governments across the globe are making continuous efforts to make roads safer and also notified prescribed norms related to safety measures.
The global automotive telematics market size grew from $100.06 billion in 2022 to $132.87 billion in 2023 at a compound annual growth rate (CAGR) of 32.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The automotive telematics market size is expected to grow to $360.56 billion in 2027 at a CAGR of 28.3%.
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Major competitors in the automotive telematics market are Masternaut Limited, TomTom Telematics B.V, Trimble Inc., Omnitracs, I.D.Systems Inc., Verizon, Airbiquity Inc., Harman International Industries, MiX Telematics, Teletrac Navman, Cartrack, AirIQ Inc., Actsoft, idem telematics GmbH, and Microlise Limited.
A key trend in the automotive telematics market includes technological innovations. Major companies operating in the market are introducing new technologies such as the MoveElectric system which is designed to aid in the transition of enterprise fleets from internal combustion engines (ICE) to electric cars (EVs) to sustain their position in the market. For instance, in June 2021, Masternaut, a UK-based telematics company specializing in fleet and asset management, launched the MoveElectric transition tool that allows fleet managers to identify which travels could be completed by an EV rather than an ICE vehicle, based on factors that reflect business demands and working patterns. With the help of this tool, businesses can now identify which electric vehicles are best for their fleets by comparing real-time ICE data with that of EVs. The MoveElectric tool's use of extensive real-world data allows fleet managers to evaluate and explain the broader benefits of switching to electric vehicles, such as increased efficiency, lower CO2 emissions, and lower costs.
Read More On The Global Automotive Telematics Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-telematics-global-market-report
The automotive telematics market is segmented -
• By Connectivity Solutions Type: Embedded, Integrated smatphones, Tethered
• By Sales Channel Type: OEM, Aftermarket
• By Application Type: Fleet/Asset management, Navigation and location-based system, Infotainment system, Insurance telematic, Safety and security
• By Vehicle Type: Commercial cars, Passenger vehicles, Two-wheelers
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the automotive telematics market.
The Business Research Company's "Global Automotive Telematics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Telematics Market Include:
1. Executive Summary
2. Automotive Telematics Market Characteristics
3. Automotive Telematics Market Trends And Strategies
4. Automotive Telematics Market - Macro Economic Scenario
5. Automotive Telematics Market Size And Growth
……
26. Africa Automotive Telematics Market
27. Automotive Telematics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Telematics Market
29. Automotive Telematics Market Future Outlook and Potential Analysis
30. Appendix
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