10-12-2017 05:27 PM CET - Business, Economy, Finances, Banking & Insurance

Automotive Telematics Market to Technological Innovations BY 2020

Press release from: Persistence Market Research Pvt. Ltd

Telematics is referred as information technology that deals with long distance communication and transmission of computerized information. Telematics is the technology of sending, receiving and storing information through the use of telecommunication devices. Automotive telematics is integrated use of telecommunications and informatics applied in the vehicles, providing required information while the vehicle is on the move. Automotive telematics includes global positioning system technology integrated with communication technology within the vehicle such as navigation system.

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On the bases of usage of telematics within the vehicle the global automotive telematics market can be bifurcated into CE telematics, embedded telematics and hybrid telematics. Automotive telematics is used for various applications while the vehicle is on the move. Major application includes vehicle tracking (monitoring the location, movements and status of a vehicle), trailer tracking (movements and position of an articulated vehicle's), wireless vehicle safety communication (electronic sub-system in a car or other vehicle providing information about road hazards and location and speed of the vehicle and container tracking.

North America has the largest market share for automotive telematics system, followed by Europe and Asia Pacific. The U.S. and Japan are the major users of automotive telematics system within the vehicle. North America is expected to maintain its dominance in the forecasted period.

However, Asia Pacific region is expected to witness highest growth in coming future. Increasing domestic demand for wireless communication system within the vehicle in the developing countries such as China and India are expected to boost the Asian automotive telematics market.

Increasing demand of integrated wireless communication system within the vehicle by the drivers and passengers is driving the global automotive telematics market. Additionally, government regulation in various countries for the use of automotive telematics system within the vehicle is expected to increase the automotive telematics systems in the forecasted period. Also, increasing demand for vehicles equipped with telematics system in the emerging market of Asia Pacific majorly China, India, South Korea and Japan is expected to drive the global automotive telematics system market in the forecasted period.

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Increasing government regulation and consumer willingness to pay more for telematics equipped vehicles is prompting the market leaders to invest in the emerging markets of Asia Pacific. Some of the major companies operating in the global automotive telematics market are Visteon Corporation, Intel Corporation, Mix Telematics, Verizon Communications Inc, Delphi Automotive Plc, Agero Inc, Airbiquity Inc, Robert Bosch Gmbh and Continental Ag.

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