Fior Markets launched a study titled “Global Automotive Embedded Telematics Market by Service (Information & Navigation, Remote Diagnostics, Safety & Security, Entertainment), Vehicle Type, Component, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.”
The global automotive embedded telematics market is expected to grow from USD 9.6 Billion in 2017 to USD 44.1 Billion by 2025, at a CAGR of 21.0% during the forecast period from 2018-2025. Strict government rules for installation of vehicle safety systems, increased research and development initiatives and safety rating upgrades are stimulating the market growth. Also, adoption of new technology of combining wireless communication with automotives, requirement for fleet management, preference for advanced driver assistance systems, reduction of road accidents and passenger security offered by advanced technology are likely to drive the growth of global automotive embedded telematics market.
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Hardware segment is dominating the market with a market share of 38.90% in 2017
The component segment is classified into hardware, services, connectivity. The hardware segment has dominated the automotive embedded telematics market share in 2017. Advanced technological operations such as fault diagnostics, field support, and GPS tracking is dominating the market in 2017.
Safety & security and entertainment segment was valued around USD 3.85 Billion in 2017
The service segment is classified into information & navigation, remote diagnostics, safety & security and entertainment. The safety & security and entertainment segment has dominated the automotive embedded telematics market in 2017. International entrants for automotive industry like BMW and Ford have stimulated the growth of market by increasing the demand for automotive embedded telematics systems in vehicles for entertainment and navigation applications.
Passenger car segment is anticipated to grow with the highest CAGR of 25.4% over the forecast period
Vehicle type segment includes passenger car, heavy commercial vehicle and light commercial vehicle. Passenger car segment is expected to grow with the highest CAGR over the forecast period as they provide the most convenient way of travelling and are likely to rise in the coming years, further accelerating the need of embedded telematics for more safety and an enhanced in-car experience.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately 39.20% in 2017. The North America and European region is a major manufacturing hub and also follows strict road safety policies and regulations focusing on passenger safety.
Teletrac Navman Group, Omnitracs, Autotrac, Fleetmatics, Masternaut Limited, Digicore Technologies, TomTom Telematics BV, Telogis, Trimble Inc., MiX Telematics, Ford Motor Company, Continental AG, General Motors Company, Hyundai Motor Company, Toyota Motor Corporation., INFINITI Motor Company Ltd., BMW Group, and Verizon Connect are some key players of the market
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