Telematics Solutions - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Telematics Solutions Market is accounted for $21.66 billion in 2018 and is expected to reach $92.46 billion by 2027 growing at a CAGR of 17.5% during the forecast period. Some of the key factors propelling the market growth are developments in 5G connectivity, increase in efforts by the government for developing an intelligent transportation system, increasing demand for smartphone features in the car and automated driving technologies. However, lack of telematics solutions infrastructure in emerging countries is restricting the market growth.
Telematics is an interdisciplinary field that encompasses telecommunications, vehicular technologies, road transportation, road safety, electrical engineering, and computer science. These solutions can integrate with existing applications and systems to enable an array of use cases for fleets of all sizes, including vehicle tracking where vehicles can be tracked using a combination of GPS satellites and receivers, GPRS networks and cloud computing.
By form factor, the embedded system is anticipated to grow at the significant rate during the forecast period, due to various disruptive factors such as government mandates, cost optimization of service plans, and growth of cloud-based services. Many telematics services cannot be used efficiently without having an embedded connectivity solution in the car such as eCall, remote diagnostics, and many more which is increasing the adoption of embedded connectivity.
Based on the geography, Asia Pacific region is expected to have considerable market growth during the forecast period, due to strong economic growth, ongoing advancement in the automotive sector and rapid urbanization. Asia Pacific market is the increased demand for fleet management and navigation services, particularly in China, Japan, India and South Korea. Moreover, a rise in the trend of connectivity solutions is expected to boost the growth of the APAC telematics solutions market.
Some of the key players in telematics solutions market include Continental, Robert Bosch, Qualcomm Technologies, Inc., Visteon Corporation, LG Electronics, Tomtom International Bv., Delphi Automotive PLC, Verizon, Trimble Inc, Magneti Marelli S.P.A., Harman International, Intel Corporation, Garmin Ltd., AT&T, and Octo Telematics.
• Communication Devices
• Audio/Video Interface
• CAN Bus
• Telematic Control Unit
• Navigation Systems
• Infotainment Display Unit
Form Factors Covered:
• On-Road Assistance
• Vehicle Tracking/Recovery
• Insurance Risk Assessment
• Automatic Crash Notification
• Emergency Calling
• Remote Diagnostics
• Driver Behaviour
• Billing Services
• Other Services
Vehicle Types Covered:
• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle
Equipment Types Covered:
• Construction Equipment
• Agriculture Tractors
• LCV Aftermarket
• HCV Aftermarket
• Bus Aftermarket
• Truck Aftermarket
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
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
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