Press release
Automotive Telematics Market - Evaluation of Recent Industry Developments For 2016-2024
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Transparency Market Research has studied the global automotive telematics market has using a SWOT analysis and a Porter’s five forces analysis to determine the various factors influencing its trajectory. The report provides a thorough analysis of the overall market and ascertains the various strengths and opportunities that are likely influence its segment. The report also mentions the intensity of the competition in the overall market along with determining the business and marketing strategies of the key players in the global market.
Global Automotive Telematics Market: Drivers and Trends
The development of automotive telematics has given birth to efficient automatic driving systems, driving assistance systems, vehicular emergency warming systems, global positioning systems (GPS) navigation, and wireless safety communications. The demand for these automotive telematics is projected to experience a spike due a high prevalence of road accidents and mishaps. This rise in several economies across the globe has resulted in a terrific demand for transportation, which, in turn, has augmented the need for automotive telematics to make vehicular transportation safer.
Incorporation of automotive telematics ensures intuitive motoring guidance to reduce traffic jams by redirecting the traffic to a congestion-free road. Furthermore, growing government interest in making road travel and daily commute safer is also expected to keep sentiment in the global market relatively positive. The adoption of automotive telematics systems in fleet telematics systems for ensuring seamless coordination of mass transportation is expected to benefit the overall market. These systems are also being used conducting accurate automobile insurance, trailer and vehicle tracking, and car clubs. Technological advancements by several new entrants as well as established players is projected to boost the growth of the overall market.
Global Automotive Telematics Market: Geographical Outlook
On the basis of geography, the global automotive telematics market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The report states that North America holds the leading share in the global market due to supportive regulatory framework that are aimed toward road safety. Europe follows this lead as the automotive industry is finally limping back to normalcy after a slowdown due to economic recession. The growing concerns about the safety of the drivers has led to an increased uptake of telematics in the overall industry. Mandates such as equipping vehicles with eCall facility has also improved to the usage of telematics in recent years.
On the other hand, Asia Pacific is also showing signs of excellent growth as the manufacturing activity of automobiles picks up pace. However, the growth of Asia Pacific automotive telematics market is expected to be a slow one due to poor infrastructure, unenthusiastic governments, and lesser awareness about safety. Analysts anticipate that the presence of big market players such as General Motors, Volkswagen, Audi, and BMW will change the perceptions towards automobile safety in the region, in the coming years.
Key Players Mentioned in the Report
Some of the leading players operating in the global automotive telematics market are Fleetmatics IrL Limited, Autotrac, ID Systems Inc., Teletrac Inc., Trimble Navigations and Omnitracs LLC, DigiCore, Masternaut Limited, MiX Telematics, TomTom Telematics and Telogis.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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