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In 2022, the worldwide telematics market for automobiles was estimated to be worth $72.83 billion. With a CAGR of 18.3% between 2023 and 2030, the market is expected to increase from $86.11 billion in 2023 to $276.74 billion.
Telematics systems for vehicles are the result of the merging of several disciplines, including computer science, telecommunications, vehicular technology, and informatics, with the end goal of increasing driver safety and comfort. It combines GPS systems, on-board vehicular diagnostics, and other wireless telematics devices to communicate and record information about a vehicle, including its position, maintenance status, and speed. This information can be used to better understand and address road safety issues, as well as enhance vehicle functionality.
Report Coverage
Global Vehicle Telematics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Vehicle Telematics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Vehicle Telematics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Vehicle Telematics market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
As congestion and traffic on the roads increase, several fleet management systems have emerged to ensure the public's safety. One of the major drivers pushing the industry forward is the increasing sophistication of ADAS systems in automobiles. Demand for telematics systems in vehicles is being fueled by the industry's proliferation of safety features and manufacturers' commitment to R&D for ADAS system improvement. For instance, one of the pioneers in the car industry, Denso Corporation, created an Advanced Driver Assistance System in April 2021 that is compatible with the new Lexus LS and Toyota Mirai. Additionally, in September 2021, Continental AG partnered with a market leader in AI computing systems, Horizon, to speed up the commercialization of AI in cars.
Governments are enacting regulations to mandate telematics technology into automobiles for the public's safety; for example, in 2018, e-calls were required in all new European vehicles. In April of 2018, all new automobiles produced in the European Union must be equipped with eCall technology, per a legislation established by the European Parliament. The vehicle telematics market is expected to increase as a result of rising demand for roadside assistance, vehicle crash detection, driving assistance, and driver behaviour analysis, among other fleet management services.
CAUSES OF RESTRICTIONS
One of the main worries for the telematics sector is cyber security. One source of anxiety is the potential for hackers to get access to sensitive car information or compromise the vehicle's connectivity system. Hacking and tampering are possible with the telematics system's hardware, Bluetooth, software, and apps. Unauthorised usage of a vehicle is just one possible outcome of a breach in cybersecurity. One of the main concerns expected to impede market expansion is the potential of hacking. In January 2023, for example, 7 security researchers revealed a slew of automotive vulnerabilities from 16 automakers, including faults that gave them access to the car's internal workings and allowed them to remotely start and stop the vehicle's engine. In March of 2023, hackers from Skoda Auto India released details from over twenty databases containing customer information and leads from Skodalive.co.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Vehicle Telematics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Vehicle Telematics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• Robert Bosch GmbH
• Webfleet Solutions B.V.
• Mix Telematics
• Trimble
• Verizon
• Zonar Systems
• Octo Group S.p.A
• Microlise Telematics Pvt. Ltd.
• Harman International
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Vehicle Telematics market based on the below-mentioned segments:
Global Vehicle Telematics Market, By Service
Information and Navigation
Safety and Security
Fleet/Asset Management
Insurance Telematics
Infotainment System
Global Vehicle Telematics market, By Technology
Integrated
Tethered
Embedded
Global Vehicle Telematics Market, By Sales Channel
OEM
Aftermarket
Global Vehicle Telematics Market, By Vehicle Type
Passenger Cars
Commercial Vehicles
Global Vehicle Telematics market, Regional Analysis
Telematics systems for vehicles are the result of the merging of several disciplines, including computer science, telecommunications, vehicular technology, and informatics, with the end goal of increasing driver safety and comfort. It combines GPS systems, on-board vehicular diagnostics, and other wireless telematics devices to communicate and record information about a vehicle, including its position, maintenance status, and speed. This information can be used to better understand and address road safety issues, as well as enhance vehicle functionality.
Report Coverage
Global Vehicle Telematics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Vehicle Telematics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Vehicle Telematics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Vehicle Telematics market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
As congestion and traffic on the roads increase, several fleet management systems have emerged to ensure the public's safety. One of the major drivers pushing the industry forward is the increasing sophistication of ADAS systems in automobiles. Demand for telematics systems in vehicles is being fueled by the industry's proliferation of safety features and manufacturers' commitment to R&D for ADAS system improvement. For instance, one of the pioneers in the car industry, Denso Corporation, created an Advanced Driver Assistance System in April 2021 that is compatible with the new Lexus LS and Toyota Mirai. Additionally, in September 2021, Continental AG partnered with a market leader in AI computing systems, Horizon, to speed up the commercialization of AI in cars.
Governments are enacting regulations to mandate telematics technology into automobiles for the public's safety; for example, in 2018, e-calls were required in all new European vehicles. In April of 2018, all new automobiles produced in the European Union must be equipped with eCall technology, per a legislation established by the European Parliament. The vehicle telematics market is expected to increase as a result of rising demand for roadside assistance, vehicle crash detection, driving assistance, and driver behaviour analysis, among other fleet management services.
CAUSES OF RESTRICTIONS
One of the main worries for the telematics sector is cyber security. One source of anxiety is the potential for hackers to get access to sensitive car information or compromise the vehicle's connectivity system. Hacking and tampering are possible with the telematics system's hardware, Bluetooth, software, and apps. Unauthorised usage of a vehicle is just one possible outcome of a breach in cybersecurity. One of the main concerns expected to impede market expansion is the potential of hacking. In January 2023, for example, 7 security researchers revealed a slew of automotive vulnerabilities from 16 automakers, including faults that gave them access to the car's internal workings and allowed them to remotely start and stop the vehicle's engine. In March of 2023, hackers from Skoda Auto India released details from over twenty databases containing customer information and leads from Skodalive.co.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Robert Bosch GmbH (Germany), Webfleet Solutions B.V. (Netherlands), Mix Telematics (South Africa), Trimble (U.S.), Verizon (U.S.), Zonar Systems (U.S.), Octo Group S.p.A (Italy), Microlise Telematics Pvt. Ltd. (U.K.), Harman International (U.S.) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Vehicle Telematics Market from 2021 to 2030.
- Market Forecast for Vehicle Telematics Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Vehicle Telematics competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Vehicle Telematics
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Vehicle Telematics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Vehicle Telematics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• Robert Bosch GmbH
• Webfleet Solutions B.V.
• Mix Telematics
• Trimble
• Verizon
• Zonar Systems
• Octo Group S.p.A
• Microlise Telematics Pvt. Ltd.
• Harman International
Primary Target Market
- Market Players of Vehicle Telematics
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Vehicle Telematics market based on the below-mentioned segments:
Global Vehicle Telematics Market, By Service
Information and Navigation
Safety and Security
Fleet/Asset Management
Insurance Telematics
Infotainment System
Global Vehicle Telematics market, By Technology
Integrated
Tethered
Embedded
Global Vehicle Telematics Market, By Sales Channel
OEM
Aftermarket
Global Vehicle Telematics Market, By Vehicle Type
Passenger Cars
Commercial Vehicles
Global Vehicle Telematics market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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