Published Date : Jul 30, 2018
ALBANY, New York, July 30, 2018 – They say there is nothing in our house that has not been transported via a truck at some point of time. This makes the transportation sector an invaluable domain that all are affected by. However, the sheer dependency and complexity of the automotive industry has given rise to technologies that can provide information for greater efficiencies. Automotive telematics deals with generating information from long-distance transmission, road transportation, vehicular technologies, and computer science, and the market for the same is flourishing.
According to a recent business intelligence study added to the repository of MarketResearchReports.biz, the demand in the global automotive telematics market will surge at a phenomenal CAGR of 22.1% during the forecast period of 2017 to 2025. By the end of 2025, the analyst of the report has estimated that the opportunities will reflect a revenue of US$75.79 billion, making the automotive telematics a highly profitable market.
Apart from the growth the transportation sector, the automotive companies are findings vast new opportunities for telematics for public vehicles as the services can go a long way towards providing on-road assistance, insurance claims, emerging warnings, and global navigation. Rising demand for raw diagnostic data for interpretation and reports to improve vehicle performance, government mandates for safety and security, and the future potential of 5G technologies are some of the other drivers poised to generate demand in the automotive telematics market. On the other hand, strong lack of standardization and absence of a proper infrastructure across various emerging economies are some of the restraints curtailing the progress of the automotive telematics market.
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The analyst of the report highlights new prospects for data driven services, increasing sales of electric vehicles, and increasing focus on semi-autonomous and autonomous vehicles to cultivate newer opportunities for the vendors in the near future. Application-wide, the market has been segmented into vehicle safety communication, satellite navigation, fleet management, and vehicle tracking. On the basis of vehicle type, the market has been bifurcated into heavy commercial vehicles, light commercial vehicles, and passenger vehicles.
This business intelligence study, titled “Automotive Telematics Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2017 – 2025,” is a comprehensive assessment of the market’s current scenario as well as its figurative future prospects. The included chapters are market introduction and executive summary, reports of trends, drivers, and restraints, segmentations and geographical demand reports, and competitive landscape.
TomTom International B.V., Trimble, Inc., Telogis, Masternaut Limited, Visteon Corporation, Continental AG, Agero, Inc., and Airbiquity, Inc. are some of the key companies operating in the global automotive telematics market. The report profiles these players for their business overview, strategic decisions, and geographical presence besides estimating their share in the overall market.
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