Electric vehicles market is flourishing across the globe on the back of rising need for advanced safety features within the vehicles and to provide smart mobility. Government mandates are also playing the significant role in the development of automotive telematics market. For instance, Europe’s E-Call initiative to install automatic emergency call device and CONTRAN 245 mandate in Brazil to install vehicle tracking devices in all new vehicles sold are likely to upsurge the market growth in these regions. Connected automobiles market share is also projected to grow from 28% in 2016 to more than 68% by 2025 of total vehicles across the globe.
According to Goldstein Research global automotive telematics market report; about 28% of new car customers prioritize car connectivity features over other conventional car features such as engine power or fuel efficiency, and 13%in developed countries would not even buy a car that is not connected to the internet today. Global annual industry related revenues from telematics connectivity are expected to rise six-fold from about EUR 37 billion in 2016 to approximately more than USD 150 billion in 2024.
“Global Automotive Telematics Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in the automotive telematics industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, aftermarket vendors and component suppliers to analyze the future prospects of the overall automotive telematics industry.
Global Automotive Telematics Market Segmentation can be classified on the basis of:-
By Telematics Devices
- Embedded Devices
- Tethered Devices
- Smartphone Integration
By Communication Types
- E-Call and Roadside Assistance
- Vehicle Diagnostics
- Stolen Vehicle Tracking
- Fleet Management
- Other (Toll Collection and Road Charges etc.)
- North America Automotive Telematics Market
- Europe Automotive Telematics Market
- The Middle East and Africa Automotive Telematics Market
- Latin America Automotive Telematics Market
- Asia PacificAutomotive Telematics Market
Market Trends, Drivers and Challenges
Extensive adoption of big data analytics, artificial intelligence, and back-office business processes (such as CRM, ERP and SCM) will provide better decision making improved safety and higher profitability to the companies. This will also offer solutions to the companies those are consumer-focused, valued added may be monetized over the long term. North-America is the mature market in terms of implementation of telematic systems in cars with attach rate of 38%, which is closely followed by Europe with 21%.
However, some factors associated with cybersecurity and data privacy concerns are expected to be the major challenge for automotive telematics market growth. By 2024, a projected 280 million connected vehicles will be on roads around the world. This makes framing a security policy across the entire value chain and at every point in the connective-vehicle solution, mandatory.
“Automotive Telematics Market Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global automotive telematics market report also recognizes value chain analysis to understand the cost differentiation to provide the competitive advantage to the existing and new entry players.
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