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Automotive Telematics Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41037
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The automotive telematics market share is expected to increase by 65.76 million units from 2019 to 2024, at a CAGR of 16%.

This automotive telematics market research report extensively covers automotive telematics market segmentation by geography (APAC, Europe, MEA, North America, and South America), application (commercial vehicles and passenger cars), and type (embedded, smartphone integration, and tethered). The automotive telematics market report also offers information on several market vendors, including Agero Inc., Airbiquity Inc., Continental AG, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, TomTom International BV, Trimble Inc., Verizon Communications Inc., and and Visteon Corp. among others.

What will the Automotive Telematics Market Size be During the Forecast Period?

Automotive Telematics Market Size

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Automotive Telematics Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The popularity of EVs is notably driving the automotive telematics market growth, although factors such as the high cost associated with telematics services may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive telematics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Telematics Market Driver

One of the key factors driving growth in the automotive telematics market is the growing popularity of EVs. Most government bodies globally are taking several initiatives to promote the adoption of electric vehicles (EVs). Unlike the internal combustion engine (ICE)-based vehicles, the EVs significantly reduce air pollution as they do not emit harmful pollutants, such as particulates, carbon monoxide, hydrocarbons, and volatile organic compounds. In China, firms engaged in the manufacturing of EVs can claim subsidies from the government. Even foreign companies that have their EV manufacturing units in the country have the right to claim for subsidies and benefits provided by the government. These factors significantly increased the adoption of EVs in these countries, making them prominent EV markets. Emerging economies like India are adopting the incentives route to gain traction in the EVs adoption and are aggressively targeting EVs adoption. Hence, the adoption of EVs is a driver for the growth of the global automotive telematics market.

Key Automotive Telematics Market Trend

The growing popularity of API is a automotive telematics market trend that is expected to have a positive impact in the coming years. Modern fleets are operated with more than one system, which requires information sharing across platforms. This information sharing makes data the most powerful tool to gain quicker insights. Modern vehicles store a large amount of data in the form of GPS location and vehicle diagnostics data. Integrating this data into software applications enabled by application protocol interface (API) can streamline the data collection process. Hence, API is gaining popularity in the automotive telematics market. Fleet operators receive a large amount of data related to their daily operations through various channels, such as documents from employees and technicians, fuel bills, routes traversed by vehicles, and work order performance reports. Software applications enable the efficient management of data and reduce the probability of manual errors by automating the fleet management process. Additionally, the availability of big data and its analytics would allow fleet managers to access, analyze, and strategize fleets operations to attain maximum asset utilization for optimum operating efficiency.

Key Automotive Telematics Market Challenge

The high cost associated with telematics services will be a major challenge for the automotive telematics market during the forecast period. Initial costs when setting up telematics include license, setup, and installation fee, in addition to the payment for customization and integration with current systems. Additionally, the license fee needs to be renewed periodically, which adds to the overall cost. Also, integration or customization can be more expensive than the price of telematics devices and license fees. Hidden costs could pose a challenge to the growth of the market like providers levy roaming charges for vehicles that travel beyond a country's borders. Companies also charge in situations involving vehicle replacement and end-contractual equipment termination. The high cost of automobile-embedded telematics makes it difficult for automotive manufacturers to keep their product prices low. In the current price-sensitive market, where customers are looking for products that give them maximum value for money, it has become difficult for manufacturers to shift the pricing pressure onto their customers. Therefore, manufacturers are compelled to keep their margins low, which affects their financial status and restricts them from spending on R&D. This, in turn, impacts the development of automobile-embedded telematics.

This automotive telematics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global automotive telematics market as a part of the global auto parts and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive telematics market during the forecast period.

Who are the Major Automotive Telematics Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Agero Inc.
  • Airbiquity Inc.
  • Continental AG
  • LG Electronics Inc.
  • Panasonic Corp.
  • Robert Bosch GmbH
  • TomTom International BV
  • Trimble Inc.
  • Verizon Communications Inc.
  • and Visteon Corp.

 

This statistical study of the automotive telematics market encompasses successful business strategies deployed by the key vendors. The automotive telematics market is fragmented and the vendors are deploying growth strategies such as focusing on differentiating themselves from other competitors based on a wide variety of offerings, quality, price point, and attractive discount offers to compete in the market.

Product Insights and News

  • Agero Inc. - The company offers customer support services such as ACN first responder, SOS, stolen vehicle tracking, vehicle immobilization, enhanced roadside assistance, remote door unlock and lock, and vehicle status.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive telematics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Telematics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive telematics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the auto parts and equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Automotive Telematics Market?

Automotive Telematics Market Market segmentation by region

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40% of the market's growth will originate from APAC during the forecast period. Market growth in this region will be faster than the growth of the market in other regions.

North America is another region showing major market growth. The US and Canada are the major contributors to the global automotive telematics market. The ongoing economic revival from the recession is likely to contribute to the demand for automobiles in North America. The region is the hub of automobile manufacturers. The market in the region is developing rapidly, and automobile manufacturers are installing telematics systems as essential accessories. This is positive for the automotive telematics market in North America.  This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Geography Segments in the Automotive Telematics Market?

Automotive Telematics Market Segmentation

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The automotive telematics market share growth by the commercial vehicles segment will be significant during the forecast period. The CVs segment has been witnessing rapid technological advances with the incorporation of intelligent vehicle systems. The growing demand for better fuel efficiency and safety is among the factors responsible for the increased adoption of telematics in the CVs segment. The use of in-vehicle telematics helps monitor driver behavior, reduces fuel consumption, improves driver safety, and enables cost savings. OEMs provide numerous connectivity options, such as embedded telematics devices, tethered handsets, and smartphone integrated systems, for connected vehicles.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive telematics market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Telematics Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Decelerate at a CAGR of 16%

Market growth 2020-2024

65.76 mn units

Market structure

Fragmented

YoY growth (%)

18.35

Regional analysis

APAC, Europe, MEA, North America, and South America

Performing market contribution

APAC at 40%

Key consumer countries

blank

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Agero Inc., Airbiquity Inc., Continental AG, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, TomTom International BV, Trimble Inc., Verizon Communications Inc., and and Visteon Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Automotive Telematics Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive automotive telematics market growth during the next five years
  • Precise estimation of the automotive telematics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive telematics industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive telematics market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application placement
  • Commercial vehicles - Market size and forecast 2019-2024
  • Passenger cars - Market size and forecast 2019-2024
  • Market opportunity by Application

Market Segmentation by Type

  • Market segments
  • Comparison by Type placement
  • Embedded - Market size and forecast 2019-2024
  • Smartphone integration - Market size and forecast 2019-2024
  • Tethered - Market size and forecast 2019-2024
  • Market opportunity by Type

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption
  • Vendor Analysis

Vendors covered

  • Market positioning of vendors
  • Agero Inc.
  • Airbiquity Inc.
  • Continental AG
  • LG Electronics, Inc.
  • Panasonic Corp.
  • Robert Bosch GmbH
  • TomTom International BV
  • Trimble Inc.
  • Verizon Communications Inc.
  • Visteon Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Automotive Telematics market growth will increase by $65.76 million units during 2019-2024.
The automotive telematics market is expected to grow at a CAGR of 16.28% during 2019-2024.
Technavio has segmented the automotive telematics market by type (Embedded, Smartphone integration, and Tethered) and geographic (North America, APAC, Europe, and South America).
Agero Inc., Airbiquity Inc., Continental AG, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, TomTom International BV, Trimble Inc., Verizon Communications Inc., Visteon Corp. are a few of the key vendors in the automotive telematics market.
APAC will register the highest growth rate of 40.76% among the other regions. Therefore, the automotive telematics market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the automotive telematics market growth are:
  • Adoption of telematics enables UBI for insurance cost saving
  • Growing investments in hyper-scale data centers by colocation providers
The automotive telematics market vendors should focus on grabbing business opportunities from the embedded segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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