Market Insights:
Vehicle Telematics Market size was valued at USD 65.2 Billion in 2021, registering a CAGR of 16.8 % during the forecast period (2022-2030), and the market is projected to be worth USD 263.7 Billion by 2030.
Vehicle telematics provides several advantages to drivers globally. This technology allows for better routing, logistics, and fuel efficiency. It facilitates in the recovery of stolen cars, the identification of underused assets, and the reduction of accident frequency and severity. Consumer awareness and demand for automotive telematics solutions are expanding as the popularity of connection solutions in automobiles grows, as does the construction of critical high-cost infrastructure. These reasons, in turn, are supporting the expansion of the vehicle telematics industry.
Vehicle Telematics Market Research Report” was just released by Market Research Community. It is divided into several categories, including Service (Fleet Management, Navigation & Location-based System, Driver Management, Insurance Telematics, Safety & Security, V2X Solutions, Infotainment System, Others), Technology (Embedded, Tethered, Integrated), Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket), Vehicle Type (Passenger Vehicles, Commercial Vehicles), and companies (trimble inc, verizon, harman international (samsung electronics), I.D.Systems, Inc., Teletrac Navman, Airbiquity Inc., Cartrack, masternaut limited, mix telematics, omnitracs, tomtom telematics bv), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 16.8 %, over the forecast period of 2022–2030
Driver:
The increased adoption of Vehicle Telematics in the Electronic Devices industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Vehicle Telematics also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Vehicle Telematics in many sectors also boosts the market growth during the forecast period.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 263.7 Billion |
| CAGR (2022-2030) | 16.8 % |
| By Service | Fleet Management, Navigation & Location-based System, Driver Management, Insurance Telematics, Safety & Security, V2X Solutions, Infotainment System, Others |
| By Technology | Embedded, Tethered, Integrated |
| By Vehicle Type | Passenger Vehicles, Commercial Vehicles |
| By Sales Channel | Original Equipment Manufacturer (OEM), Aftermarket |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | trimble inc, verizon, harman international (samsung electronics), I.D.Systems, Inc., Teletrac Navman, Airbiquity Inc., Cartrack, masternaut limited, mix telematics, omnitracs, tomtom telematics bv |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Vehicle Telematics market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
trimble inc, verizon, harman international (samsung electronics), I.D.Systems, Inc., Teletrac Navman, Airbiquity Inc., Cartrack, masternaut limited, mix telematics, omnitracs, tomtom telematics bv
Market Segment Analysis:
By Service
- Fleet Management
- Navigation & Location-based System
- Driver Management
- Insurance Telematics
- Safety & Security
- V2X Solutions
- Infotainment System
- Others
By Vehicle Type
Passenger Vehicles
Commercial Vehicles
By Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Technology
- Embedded
- Tethered
- Integrated
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Vehicle Telematics industries in the region.
Key Vehicle Telematics Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Vehicle Telematics Market segments.
– Largest Market Share Held by Industry to Industry for Vehicle Telematics
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Vehicle Telematics Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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