Automotive Telematics Market : Influential Factors Determining the Trajectory of the Market.

Recent innovations in automotive telematics have greatly pumped up their demand. Considering this, technological applications of telematics solutions in vehicles have completely transitioned over the years. Various factors are steering this paradigm shift. For instance, the present generation of automobile buyers give preference to value-added features in their vehicles besides driving. Infotainment has emerged as a basic requirement in vehicles to woo customers.

Transparency Market Research (TMR) forecasts the global automotive telematics market to reach US$75.79 bn by the end of 2025, from its valuation of US$10.15 bn in 2016. In the last five years the market has witnessed robust growth in response to the expansion of the automotive industry. The market is expected to gain increased traction with the increasing demand for high-performing passenger vehicles worldwide.

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On the downside, stringent regulations implemented across various countries in the world and corporate average fuel economy standard regulations set up by various developed nations are inhibiting the market. Nevertheless, with companies focusing on product innovation and differentiation, the pace of gains is projected to accelerate for the market in the coming years.

Demand for Vehicle Tracking to Scale Higher

Based on application, the global automotive telematics market can be segmented into vehicle tracking, fleet management, satellite navigation, vehicle safety communication, and others. Of these, the vehicle tracking segment emerged dominant in the overall market in 2016. In the given year, the segment held over 30% of the overall market.

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In terms of vehicle type, the global automotive telematics market can be segmented into light commercial vehicle, passenger vehicle, and heavy commercial vehicle. Of these, the passenger vehicle segment held the dominant share of 55.3% in the overall market in 2017.

Asia Pacific to Remain Dominant Regional Market through Forecast Period

Regionally, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa constitute the key market segments. Among these, Asia Pacific led the overall market with a share of 33.5% in 2016. North America emerged as the second-leading market for automotive telematics, followed by Europe.

While China is the leading market for automotive telematics in Asia Pacific, India will exhibit the highest CAGR during the forecast period. In Europe, France held the largest market share while in North America, the U.S. will continue exhibiting lucrative opportunities.

Some of the leading players forecast to gain from the aforementioned trends are Trimble, Inc., Masternaut Limited, TomTom International B.V., Telogis, Visteon Corporation, Continental AG, Airbiquity, Inc. and Agero, Inc.

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This release was published on openPR.