The Global Vehicle Telematics Market is projected to reach USD 415.93 billion by 2027, according to a recent report by Emergen Research. The stringent rules set by the government in association with property identification coupled with increased usage of cloud-based technology is likely to drive the expansion of the global Vehicle Telematics market.
The growth of the market is attributed to the rise in preference for security and safety features in vehicles, being demanded by consumers in the Western hemisphere
On the other hand, the threat of knowledge hacking, high installation price, and therefore the dearth of unceasing and seamless net property the market to some extent. Withal, the good transportation, increased performance of autonomous vehicles, higher driver and vehicle safety, Associate in Nursing improvement of business selections for fleet house are expected to form an array of opportunities within the industries.
Rise in adoption of web-based services and convenience of advanced communication technology offer vast growth opportunities for fleet management businesses. Major technologies utilized in the market embody GPS trailing system, telematics and M2M communication, among others.
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Key participants include Trimble Inc., Omnitracs, Verizon, I.D.Systems Inc., Masternaut Limited, Airbiquity Inc., TomTom Telematics B.V, Harman International Industries, Inc., MiX Telematics, Teletrac Navman, and Cartrack.
In telematics and M2M devices, with sturdy communication network, fleet management activities are often simply handled, and have a fast access and response mechanism. Moreover, many solutions offered within the Vehicle Telematics market collect, manage, explore, interpret, and analyze the driving information of a selected driver. Such good fleet management solutions generate an enormous volume of knowledge, and help in establishing new business avenues in autonomous driving.
Read More: https://www.emergenresearch.com/industry-report/automotive-telematics-market
For the purpose of this report, Emergen Research has segmented the global Vehicle Telematics Market on the basis of vehicle type, applications, connectivity solutions, and region:
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Passenger Vehicle
Commercial Vehicle
Two-Wheeler
Applications Outlook (Revenue, USD Billion; 2017-2027)
Asset/Fleet Management
Navigation and Location Based System
Infotainment System
Insurance Telematics
Safety and Security
V2X
Connectivity Solutions Outlook (Revenue, USD Billion; 2017-2027)
Embedded
Integrated Smartphones
Tethered
Applications Outlook (Revenue, USD Billion; 2017-2027)
Park Assist System
Lane Departure Warning System
Adaptive Cruise Control System
Autonomous Emergency Braking System
Blind Spot Detection
Others
Regional Outlook (Revenue: USD Billion; 2017-2027)
North America
U.S
Canada
Mexico
Europe
U.K
Germany
France
Benelux
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Rest of MEA
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Overview of the Keyword Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
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Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Key Highlights From The Report
Vehicles across every fleet have become technology dependant, the association of which is predicted to drive the Vehicle Telematics market. Moreover, high fuel economy and low carbon emission are the prime concern of vehicle owners. Thus, telematics service suppliers facilitate on improving the ownership cost of a vehicle.
Fleet management services occupies a significant part of the market share when it comes to areas of applications. Adoption of telematics services and technology and advanced technologies in vehicles to reinforce safety are anticipated to propel the Vehicle Telematics market.
Vehicle trailing and eCall options offered by telematics services are extremely widespread among vehicle owners. Widespread population across Asia Pacific regions makes recovery of purloined vehicles within the region difficult. However, vehicle trailing is predicted to make tasks notably easier for government authorities.
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