Automotive Telematics Global Market Size, Share, Growth Analysis, Trends And Industry Forecast 2023-2032

As per The Business Research Company's Automotive Telematics Opportunities And Strategies Market Report 2023, the global automotive telematics market size will grow 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 market size of global automotive telematics is expected to grow to $360.56 billion in 2027 at a CAGR of 28.3%.

An increase in car accidents is contributing to the growth of the automotive telematics market going forward. Car accidents, also referred to as car collisions or accidents with a car that involve a collision with another vehicle or stationary objects, Automobile telematics reduces accidents by providing real-time feedback to drivers. Major car manufacturers are now installing automotive telematics to keep vehicles and drivers safe. For instance, according to Vox, a US-based news website and media company, in 2021, car accidents will have resulted in the fatalities of 1.3 million people worldwide. Furthermore, car accidents also caused the deaths of 7,485 pedestrians in the US in 2021. Therefore, the increase in car accidents is driving the growth of the automotive telematics market.

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New product innovations are the key trend gaining popularity in the automotive telematics market. Major companies operating in the automotive telematics sector are focused on introducing new innovations 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 helps in identifying which journeys could be carried out by an EV (Electric Vehicle) instead of an ICE (Internal Combustion Engine) vehicle based on parameters that reflect business needs and working patterns. It uses comprehensive real-world data that allows fleet managers to measure and demonstrate the wider benefits of the move to EVs, including efficiency, CO2 reduction, and cost savings.

Automotive Telematics Market Segmentation:
The automotive telematics market is segmented - By Vehicle Type, by Connectivity Solutions Type, by Sales Channel Type and by Application.
By Vehicle Type -
a) Commercial Cars
b) Passenger Vehicles
c) Two-Wheelers

By Connectivity Solutions Type -
a) Two-Wheelers
b) Integrated Smatphones
c) Tethered

By Sales Channel Type -
a) Original Equipment Manufacturer (OEM)
b) Aftermarket

By Application -
a) Aftermarket
b) Navigation And Location-Based System
c) Infotainment System
d) Insurance Telematic
e) Safety And Security
f) Other Applications

Major players in the automotive telematics market include TomTom Telematics B.V, Trimble Inc., Omnitracs, I.D.Systems Inc., Verizon.

The regions covered in the global automotive telematics market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Automotive Telematics Market Report Table Of Content
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

The latest report from The Business Research Company, 'Global Automotive Telematics Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

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