During the forecast period, 2022-2027, The global automotive telematics market is anticipated to register a CAGR of 5.2%.
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The market is primarily operated by technological upgradation aimed at magnifying the overall in-vehicle experience of the passengers and bringing about a delicate interaction within and among the vehicles. Moreover, the telematics market for the automotive industry is driven by factors such as increased safety awareness among consumers, stricter safety regulations, and more affordable options for adopting telematics systems in vehicles. However, installing advanced telematics infrastructure in vehicles can still be costly.
Additionally, the growing adoption of electric vehicles (EVs) is expected to further boost the market growth. Leading companies in the industry are exploring opportunities to integrate telematics into EVs. Additionally, the European Commission’s mandate for e-Call to be installed in new vehicles has also contributed to the expansion of the telematics market in Europe. The region is also home to many suppliers of automotive telematics hardware, particularly in countries such as Germany, the United Kingdom, and Italy.
Safety is an essential component of the services provided by automotive telematics. The use of wireless technology in vehicle safety communications greatly enhances both car and road safety. Through the electronic subsystem in a car, information can be exchanged about road hazards, the location, and the speed of vehicles.
In addition to wireless local area networks, various emergency warning systems are also being developed, such as collision warnings, for the standardization and harmonization of communication systems for vehicle-to-vehicle, infrastructure-to-vehicle, and vehicle-to-infrastructure communication. The data collected from telematics is also widely used in car-sharing and auto insurance services.
The global market for automotive telematics is highly competitive, with many regional players vying for market share. However, a few notable vendors, such as Robert Bosch GmbH, Ficosa International SA, DENSO Corporation, Magnetic Marelli SpA, and, Continental AG have managed to establish themselves as major players in the industry.
In March 2022, Geotab, a leading provider of internet of things (IoT) and connected transportation solutions, announced a partnership with Free2Move, a company that specializes in fleet management, mobility, and data services and is a subsidiary of Stellantis.
Our Automotive and Transportation category segmentation encompasses:
Driving Safety and Security Systems
Automotive components
Electric and Hybrid Vehicles
Automotive Logistics
Automotive systems, and accessories
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