Motor Racing Telematics Market by Application and Geography - Forecast and Analysis 2020-2024

  • Published: Sep 2020
  • Pages: 120
  • SKU: IRTNTR45023
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The motor racing telematics market size has the potential to grow by 20.92 thousand units during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (M2M and IoT) and geography (Europe, North America, APAC, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Airbiquity Inc., AT&T Inc., Bridgestone Corp., Continental AG, Telefonaktiebolaget LM Ericsson, PTC Inc., Robert Bosch GmbH, Valeo SA, Verizon Communications Inc., and Volkswagen AG.

Market Overview

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Market Competitive Analysis

The market is fragmented. The market is evolving due to the rising adoption of smartphones or tablets in automobiles to enhance the in-vehicle experience of the driver and passengers. The growing collaboration of the MRT market and the automobile insurance industries accelerate the progress of the market. Airbiquity Inc., AT&T Inc., and Bridgestone Corp. are some of the major market participants. Although the automotive suppliers venturing into the MRT market will offer immense growth opportunities, the high costs associated with telematics services will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this motor racing telematics market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this motor racing telematics market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Airbiquity Inc.
  • AT&T Inc.
  • Bridgestone Corp.
  • Continental AG
  • Telefonaktiebolaget LM Ericsson
  • PTC Inc.
  • Robert Bosch GmbH
  • Valeo SA
  • Verizon Communications Inc.
  • Volkswagen AG

Motor Racing Telematics Market: Segmentation by Application

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The market for MRT for M2M applications has significant growth potential, especially in developing economies such as India and China. Although differing market dynamics could pose a challenge, the rapid adoption of M2M applications in countries such as China, India, Thailand, and Singapore are expected to drive the market during the forecast period. Moreover, the increase in government and regulatory initiatives, such as the EU initiatives, and the mandatory incorporation of automotive safety systems, such as eCall in all new car models, are driving M2M connections and M2M network security solutions.

This report provides an accurate prediction of the contribution of all the segments to the growth of the motor racing telematics market size.

Motor Racing Telematics Market: Segmentation by Geography

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North America was the largest motor racing telematics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the availability of improved transportation services and developed communication infrastructures and new car assessment program on vehicle safety and security will significantly drive motor racing telematics market growth in this region over the forecast period.

44% of the market’s growth will originate from North America during the forecast period. The US is the key market for motor racing telematics in North America. Market growth in this region will be slower than the growth of the market in APAC.

Motor Racing Telematics Market: Key Drivers and Trends

The motor racing telematics market will register a CAGR of almost 1% during the forecast period. Remote monitoring through telematics that enables better performance and reliability. This is one of the major factors driving market growth. The use of remote monitoring and simulation has led to improvements in the overall car performance and fuel efficiency. Additionally, telematics has given rise to the integration of numerous sensors, processors, and control modules for constant monitoring of numerous parameters such as engine oil temperature and pressure, tire pressure and temperature, and other crucial components. Moreover, the utilization of telematics in the motorsports industry also drives the need for the adoption of advanced technologies that improve fuel consumption, monitoring safety, reduces carbon emissions, and improves the performance of race cars.

One of the latest trends that will gain traction in the global motor racing telematics market is the integration of IoT platform for optimum engine performance. The wide use of electronic sensors and microprocessors in the vehicles with enhanced control modules drives the development of more advanced racing vehicles. The integration of IoT technologies assists data analytics scientists to boost the performance and efficiency of the cars along with an active diagnosis of mechanical problems. Moreover, developments in IoT for the automotive industry is further propelling the growth of motorsports. For Instance, The Japanese automaker, Honda uses IoT developed by American-based computer hardware company International Business Machines in its Formula 1 (F1) cars.

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Motor Racing Telematics Market: Key Highlights of the Report for 2020-2024

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

  • Five Forces Summary
  • 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
  • M2M - Market size and forecast 2019-2024
  • IoT - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • APAC - 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
  • Market drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Airbiquity Inc.
  • AT&T Inc.
  • Bridgestone Corp.
  • Continental AG
  • Telefonaktiebolaget LM Ericsson
  • PTC Inc.
  • Robert Bosch GmbH
  • Valeo SA
  • Verizon Communications Inc.
  • Volkswagen AG

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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The motor racing telematics (mrt) market growth will increase by $20.92 thousand units during 2019-2024.
The motor racing telematics (mrt) market is expected to grow at a CAGR of 0.71% during 2019-2024.
Technavio has segmented the motor racing telematics (mrt) market by application (M2M and IoT) and geographic (Europe, North America, APAC, South America, and MEA).
Airbiquity Inc., AT&T Inc., Bridgestone Corp., Continental AG, Telefonaktiebolaget LM Ericsson, PTC Inc., Robert Bosch GmbH, Valeo SA, Verizon Communications Inc., Volkswagen AG are a few of the key vendors in the motor racing telematics (mrt) market.
North America will register the highest growth rate of 44.07% among the other regions. Therefore, the motor racing telematics (mrt) market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the motor racing telematics (mrt) market growth are:
  • Automotive suppliers venturing into the MRT market
The motor racing telematics (mrt) market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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