Automotive Telematics Market Growth Accelerates: Strategic Forecast Predicts $547.51 Billion by 2029

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Automotive Telematics Market Size Growth Forecast: What to Expect by 2025?
There has been a significant expansion in the size of the automotive telematics market in recent times. The projection is from $164.09 billion in 2024 to a staggering $209.6 billion in 2025, indicating a compound annual growth rate (CAGR) of 27.7%. The surge in growth during the historic period can be credited to robust economic expansion in burgeoning markets, a rise in the number of vehicle owners, a spike in vehicle theft cases, and widespread adoption of connected cars.

How Will the Automotive Telematics Market Size Evolve and Grow by 2029?
In the coming years, the automotive telematics market is projected to witness a significant surge in its size, with an anticipated worth of $547.51 billion by 2029, growing at a compound annual growth rate (CAGR) of 27.1%. This expected expansion during the projection period can be linked to the increasing demand for electric vehicles (EV), favorable government policies, and growing apprehensions regarding vehicle safety. The key trends during this forecast period are expected to be the implementation of artificial intelligence (AI), innovation in product design, partnerships and acquisitions, creation of new technology, insurance based on telematics, application of cloud technology and the increasing use of self-installed telematics devices.

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What Drivers Are Propelling the Growth of Automotive Telematics Market Forward?
The surge in car accidents is fueling the expansion of the automotive telematics market. This phenomenon, also known as car collisions, includes instances where a vehicle collides with another vehicle or stationary objects, automobile telematics lowers the risk of accidents by giving drivers real-time feedback. Leading car producers have now begun to incorporate automotive telematics to ensure the safety of both vehicles and drivers. For instance, a report issued by Statistisches Bundesamt, a Germany-based federal statistics body, in February 2023, states that the number of individuals injured in road accidents in 2023 was roughly 21,600. This figure represents an increase of about 900 injuries, or a 5% raise compared to 2022. In addition, traffic accident deaths increased by 13, totaling 167 in February 2023. Consequently, the rise in car accidents is serving as a catalyst for the growth of the automotive telematics market.

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Which Emerging Trends Are Transforming the Automotive Telematics Market in 2025?
Prominent firms in the automotive telematics industry are embracing a partnership strategy to boost technical integration and broaden their market footprint. This kind of strategic alliance typically involves a cooperative bond between multiple organizations, pooling their resources, skills, and initiatives to attain shared goals or ambitions. For example, in May 2023, the Admiral Group plc, a finance services firm based in the UK, teamed up with Ford Smart Mobility, an American investment firm specializing in mobility services, and Redtail Telematics, a British producer of customized telematics goods, to unveil a telematics product for connected cars. This offering allows eligible Ford car owners to share the driving data acquired from their vehicles via the FordPass app. Clients can approve data sharing through their car's screen, facilitating a more personalized and economical insurance experience.

What Are the Key Segments in the Automotive Telematics Market?
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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Who Are the Key Players Shaping the Automotive Telematics Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Automotive Telematics Market?
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.

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