Consumer Telematics Systems - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Consumer Telematics Systems Market is accounted for $20.73 billion in 2018 and is expected to reach $153.37 billion by 2027 growing at a CAGR of 24.9% during the forecast period.
Rising automotive sales and increasing penetration of smartphones across the world are crucial factors that are likely to boost the growth of the Consumer Telematics Systems market. However, cyber-attacks by hackers, privacy and security concerns and the high cost of telematics equipment are likely to hamper the profit boundaries.
Consumer telematics are end-user-targeted, vehicle-centric information and communication technologies (vehicle ICTs) and services. While safety and security are the cornerstones of consumer telematics offerings, the current global economic scenario may indicate a shift of focus onto technologies which provide the end-user with a system which ensures ease of driving along with ubiquitous net connectivity without compromising on safety and security. With the fuel prices on the rise, applications that contribute to cost savings, by increasing engine efficiency will become a necessity in the future.
Based on end user, the insurance segment is likely to have a huge demand due to the increased sales of passenger and commercial vehicles globally. Car connectivity features are becoming a crucial factor for more than 50% of the people. Owing to these factors, the insurance telematics segment is expected to dominate the global consumer telematics market in the future.
By geography, North America is going to have a lucrative growth during the forecast period owing to the increasing LTE connectivity, the presence of a large number of significant players in this region, technological advancements and rising automotive sales in the countries such as U.S, Canada, and Mexico.
Some of the key players in the Consumer Telematics Systems market are the Agero Connected Services Inc, Airbiquity Inc, Alpine Electronics Inc, Auto Page Inc, BMW AG (Assist), Bosch Automotive Technologies, Continental Automotive, Fleetmatics GPS, Ford Motor Co. (SYNC), General Motors (OnStar), Harman Infotainment, MiX Telematics, NavMan, Novatel Wireless, Omnitracs Ltd, Telogis Inc, TomTom NV, Toyota Motors (Entune), Trimble Navigation Ltd, and Verizon Telematics.
• Entertainment Services
• Fleet management Systems
• Safety and security Services
• Billing services
• Local Search and Concierge
• Navigation system
• Other Services
Vehicle Types Covered:
• Heavy Commercial Vehicle
• Passenger Vehicles
• Light Commercial Vehicle
• Other Vehicle Types
• Smartphone Based
• Plug and Play
• Other Devices
• Communication Devices
• Telematics control unit
• Navigation System
• Operating system
• Audio/Video Interface
• Other Components
• Tethered Telematics
• Integrated Telematics
• Embedded Telematics
• Customer Service Providers
• Information Technology
End Users Covered:
• Transportation and Logistics
• Media and Entertainment
• Government and Utilities
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.