Revolutionizing the Road: The Growing Impact and Future of Automotive Telematics Technology

The global Automotive Telematics market is expected to grow at a CAGR of around ~15% during the forecast period 2021-2027. Advanced communication technologies such as vehicle telematics are seeing widespread use in applications such as vehicular communication, safety, mapping systems, and road transportation, as the auto industry looks to tap into next-generation automotive capabilities. Furthermore, the vehicle telematics market is expected to rise due to enhanced broadband networks and the widespread use of smartphones for communication. Parallel to the continually rising popularity of in-built mobile communications among drivers, there has been a growing desire for effective satellite navigation services, resulting in strong demand for vehicle telematics technology. Because assistive technologies such as automotive telematics open up sales opportunities, carmakers have begun to include the system in their cars and market it as an enhanced version.

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Over time, smartphones have evolved into the primary mode of communication. It has opened up several possibilities for automakers to replace traditional computer-based infotainment systems with tablets and smartphones, lowering product costs. The growing trend of remaining connected to the outside world while traveling is prompting automakers to implement connectivity options into their vehicles in order to boost sales. Fuel theft monitoring, car insurance telematics, and eco-driving assistance are now all available through monitoring systems embedded in smartphone apps. As a result, cellphones are a less expensive and handier gadget because they do not require in-vehicle electronics. For example, Driveway Software and Zurich Insurance Group collaborated to develop smartphone-based systems that monitor driving movements, quantify driver distraction, and provide feedback to drivers via their phones. For the safety and security of autos, governments in major countries throughout numerous regions have implemented strict rules and regulations. Many governments have mandated increased installation to track the location and behavior of cars. Many countries have made services such as theft tracking and emergency call systems mandatory

The pandemic has had a significant impact on the automotive industry, and the shutdowns of manufacturing facilities have created various issues. Automobile and parts production factories around the world have closed, consumer activity in showrooms has plummeted, and governments in a number of locations have placed temporary trade restrictions, resulting in a major decline in automobile sales. According to Toyota Kirloskar Motor (TKM), Toyota sales in India fell by 86.49 percent in May 2020, to 1,639 units, compared to 12,138 units in May 2019. As a result, it is expected that these factors will limit the market’s expansion.

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For a better understanding of the market adoption of the Automotive Telematics, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. Because of rising connectivity trends and government rules and regulations, the Asia Pacific region has accounted for a large share of the market’s expansion. Furthermore, the market’s growth will be fueled by OEM contributions to APAC automotive telematics and high demand for embedded systems or technology-based solutions, which are low-cost and easy to manage. Furthermore, rising government initiatives and stricter restrictions governing the integration of telematics systems for passenger safety and security in nations like India, China, Japan, and Australia are expanding the usage of vehicle telematics.

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Global Automotive Telematics Market Segmentation

Market Insight, by Application

Fleet/Asset Management
Navigation Location-Based System
Infotainment System
Insurance Telematic
Safety Security
Others

Market Insight, by Technology Type

Embedded
Tethered
Integrated

Market Insight, by Vehicle Type

Passenger Car
Commercial Vehicle

Market Insight, by Sales Channel

OEM
Aftermarket

Market Insight, by Region

North America Automotive Telematics Market
- United States
- Canada
- Rest of North America
Europe Automotive Telematics Market
- Germany
- France
- United Kingdom
- Italy
- Rest of Europe
Asia Pacific Automotive Telematics Market
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Rest of World Automotive Telematics Market