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Automotive Telematics Market Growth Forecast 2025: Industry Trends, Market Size, and Projections
Automotive Telematics Market Size
What Is the Current Automotive Telematics Market Size and Its Estimated Growth Rate?
The scale of the automotive telematics market has experienced considerable expansion recently. Its growth is projected to increase from a net worth of $164.09 billion in 2024, to $209.6 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 27.7%. This significant growth in the historical period can be traced back to robust economic development in developing markets, increased vehicle ownership, a rise in vehicle theft incidents, and a remarkable upturn in the uptake of connected cars.
The market size of automotive telematics is anticipated to skyrocket over the coming years, with projections placing its value at $547.51 billion by 2029. The predicted compound annual growth rate (CAGR) is an impressive 27.1%. The predicted boom during this period can be associated with the growing demand for electric vehicles (EV), policies from government that encourage this market, and enhanced focus on the safety of vehicles. Some key market trends projected for this period include the integration of artificial intelligence (AI), product innovation, strategic collaborations and acquisitions, advancements in technology, insurance based on telematics, increased use of cloud technology, and a rise in the adoption of self-installed telematics devices.
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How Are Emerging Segments Shaping the Automotive Telematics Market Landscape?
The automotive telematics market covered in this report is segmented -
1) By Connectivity Solutions Type: Embedded, Integrated, Tethered
2) By Vehicle Type: Commercial Vehicles, Passenger Vehicles
3) By Application Type: Fleet Or Asset Management, Navigation And Location-Based System, Infotainment System, Insurance Telematic, Safety And Security, Other Applications
4) By Sales Channel Type: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Embedded: Integrated Telematics Control Units (TCUs), Built-In Communication Modules
2) By Integrated: OEM Integrated Systems, Multi-Function Devices
3) By Tethered: Smartphone-Based Telematics, Portable Devices And Dongles
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Which Growth Factors Are Influencing Automotive Telematics Market Expansion?
The surge in vehicle accidents is fuelling the expansion of the car telematics industry. Car mishaps, alternately known as vehicle collisions or accidents involving a crash with another vehicle or static objects, are lessened by car telematics through supplying instantaneous feedback to motorists. Prominent car makers are presently integrating car telematics to safeguard vehicles and their drivers. For instance, as per a report released by Statistisches Bundesamt, a federal statistical body based in Germany, around 21,600 people sustained injuries in road accidents in 2023, reflecting a spike of approximately 900 injuries or 5% compared to 2022. Furthermore, the fatalities resulting from traffic accidents increased by 13, totaling 167 in February 2023. Consequently, this rise in car accidents is steering the expansion of the car telematics industry.
Who Are the Dominant Players Across Different Automotive Telematics Market Segments?
Major companies operating in the automotive telematics market include Samsung Electronics Co., Ltd, Robert Bosch GmbH, Michelin Group, Valeo Group, TomTom N.V., Vontier, Trimble Inc., Continental AG, NavInfo Co. Ltd, Ficosa International SA, Mahindra Truck and Bus (MTB), Mitsubishi Fuso Truck, Hyundai, Geely Lynk & Co, Shenzhen Eelink Communication Technology Co., Ltd, 22 DOTS, TruckTrack GmbH, INTRANAV, FLEETIZE - Telematics, Exatrek, Visualix, Trackee.io, IoT Venture GmbH, In Car Telematics, Masternaut, Teletrac Navman, Verizon Connect, Movolytics, QUARTIX, Vodafone Fleet Telematics, RAM Tracking, Samsara, OCTO Automotive, MiX Telematics, Telematika, Kazan Telematics, TrackGPS, Mapon, Intellishift, Linxup, Damoov, Cambridge Telematics, ISAAC Instruments, Frotcom, Argus Telematics, Iveco, Autotrac, Mercedes-Benz, Omnilink, Volkswagen, Teltonika Telematics, Location Solutions Telematics LCC, Norconsult Telematics, FMS Tech, Advanced Telematics Solutions, Ctrack Matrix
What Are the Latest Developing Trends in the Automotive Telematics Market?
Key players in the automotive telematics market are turning to strategic collaborations to foster technological fusion and broaden their market footprint. Generally, a strategic partnership is a cooperative venture involving two or more entities pooling their resources, knowledge, and efforts to attain shared goals or objectives. For example, in May 2023, Admiral Group plc, a financial services firm based in the UK, teamed up with Ford Smart Mobility, a US-based company that invests in mobility services, and Redtail Telematics, a British provider of custom telematics solutions, to introduce a connected car telematics offering. This product permits qualifying Ford car owners to relay drive data gathered from their vehicles via the FordPass app. Clients can give consent for data sharing through their car's display, resulting in a more personalized and economically efficient insurance offering.
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Which Geographic Regions Are Expected to Dominate the Automotive Telematics Market in the Coming Years?
North America was the largest region in the automotive telematics market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Telematics Market?
2. What is the CAGR expected in the Automotive Telematics Market?
3. What Are the Key Innovations Transforming the Automotive Telematics Industry?
4. Which Region Is Leading the Automotive Telematics Market?
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