The global automotive telematics market size reached USD 100.70 Billion in 2021 and is expected to register a revenue CAGR of 26.1% during the forecast period. Telematics potentially helps usage-based insurance (UBI) business model by benefitting consumers and insurers by providing better risk assessment and over-the-top incentives. Telematics can measure a wide range of factors such as Global Positioning System (GPS), total miles driven, hard braking, airbag deployment, rapid acceleration, hard cornering, and time of day for underwriters to analyze and set premium accordingly. For example, the premium is higher for drivers who drive long distances at higher speeds compared to drivers who drive at slower speeds.
The research report on the Automotive Telematics market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Automotive Telematics business sphere.
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Commercial vehicles segment accounted for largest revenue share in 2021. Telematics has various applications in commercial vehicles including navigation, communication, and traveler safety. In addition, it improves fleet safety and driver behavior by monitoring travel speed, sudden braking, and acceleration. GPS technology can limit fuel pilferage by monitoring vehicles’ fuel consumption, which is a major source of loss for tanker owners in countries such as India. Such factors are supporting demand for telematics in commercial vehicles and therefore, driving revenue growth of this segment.
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Leading Companies of the Automotive Telematics Industry and Profiled in the Report are:
Trimble Inc., AirIQ Inc., Actsoft, Verizon, Airbiquity Inc., Ctrack, Masternaut Limited, Mix Telematics, TomTom International BV., and I.D. Systems Inc.
Emergen Research has segmented global automotive telematics market on the basis of vehicle type, sales-channel, connectivity solutions, application, and region:
Vehicle Type Outlook (Revenue, USD Million; 2019–2030)
Commercial Vehicles
Passenger Cars
Two-Wheelers
Sales-channel Outlook (Revenue, USD Million; 2019–2030)
Aftermarket
OEM
Connectivity Solutions Outlook (Revenue, USD Million; 2019–2030)
Embedded
Tethered
Smart Phone
Applications Outlook (Revenue, USD Million; 2019–2030)
Infotainment system
Insurance Telematics
Navigation & Location Based System
Asset / Fleet Management
Safety & Security
V2X
Others
Regional Analysis:
The report sheds light on the region expected to dominate the Automotive Telematics market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Automotive Telematics market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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