Published Date : Dec 05, 2016
ALBANY, NY, Dec 05, 2016: The report titled “Global Automotive Telematics Market 2016-2020” has been prepared after carefully analyzing the current market trends and with insightful inputs from experts. The report furnishes information on the market size, which it arrives at by factoring in the sales of OEM-embedded telematics. The report forecasts the global market for automotive telematics to expand at an astounding CAGR of 24.22% from 2016 to 2020.
The automotive telematics system comprises in-vehicle electronic and computer technology used to send and receive signals. The telematics systems gather information from different sensors such as vehicle speed, advanced driver assistance systems (ADAS), braking system, airbags, and transmission control system and processes it to improve driving experience and enhance safety. The emergence of smartphones, faster and robust internet connectivity, and GPS receivers has brought about a sea change in the global market for automotive telematics in the recent past.
Smartphone connectivity to in-vehicle infotainment systems, for example, has majorly boosted the automotive telematics market. Sagacious automakers have cashed in on this trend by developing high-resolution and more intuitive HMIs capable of perfectly integrating with smartphones in automobiles. Yet another important factor spurring the market’s growth is regulatory requirements to improve vehicle and passenger safety. Automotive telematics systems have seen the maximum uptake from the passenger vehicles segment worldwide because of higher demand for vehicle tracking and navigation services in passenger vehicles. Emergency call facilities and stolen vehicle tracking have also upped their demand in the passenger vehicle segment.
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The issue of data security, however, poses a challenge to the global automotive telematics market. Previously, most machine-to-machine communications used proprietary protocols or private networks for connectivity, but with greater demand for connectivity, players are leveraging the Internet. Another market restraint is the lack of standardization and technological challenges in the telematics industry and the short product life cycle of telematics electronics. One of the key market trends, finds the report, is plans for sharing data to bring down the number of data subscriptions per user.
Geography-wise, North America, comprising the U.S., Canada, and Mexico, is the dominant market. Europe, recovering from the 2008 economic downturn, is also considered an established market. Asia Pacific, powered by China, South Korea, India, Japan, and Thailand, is slated to grow steadily despite difficulties resulting from the lack of proper infrastructure, the dearth of government initiatives, and low levels of awareness.
The report segments the global market for automotive telematics based on fitments into embedded fitment, tethered fitment, and smartphone integration fitment. It leverages Porter’s Five Forces reports to gauge the competitive dynamics in the market. Some of the big names operating in the industry profiled in the report are Airbiquity, Verizon Telematics, Agero, and Continental.
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