Telematics Market Size To Expand at a Notable CAGR Of 20% During 2016 - 2023

Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Telematics Market.

Overview:

The telematics market is witnessing unprecedented demand due to its pervasive growth in the automobiles sector. Few factors such as wireless connectivity in automobiles, implementation of information & communication technology, use of renewable energy sources in electric vehicles, and telecommunicationforaying in the automobiles industry in tandem with the rising call for on-road public safety. The system is further getting traction as the fleet management system is percolating the transportation sector with great intensity. At the same time, aftermarket segment can speed up the growth of the industry to satisfy the infotainment requirements and demand for satellite navigation. The global telematics market is bound to experience 20% CAGR during the forecast period (2016-2023) and reach a total valuation of USD 108 billion over the same period.

As per the reports of the Market Research Future (MRFR), demand for analytics in industries such as automotive, transportation, supply chain, logistics, healthcare, retail, and IT & Telecommunication can spur the growth of the telematics market. The report also contains an in-depth analysis of the segments and expert inputs with a holistic view of the market. Among other factors, fuel consumption can emerge as a significant contributor. Tracking vehicles to sort out fuel-related problems is a probable solution which can trigger the telematics market growth.Browse Complete Report @ https://www.marketresearchfuture.com/reports/telematics-market-1121

Segmentation:

The global telematics market can be segmented by technology, services, and application.

Technology-wise, the telematics market can be segmented into embedded, portable and hybrid.

Based on the services, the telematics market can be segmentedinto navigation, diagnostic, on-demand infotainment, and maintenance and security.

On the basis of application, the telematics market comprises commercial, automotive, IT & Telecommunication, healthcare, and government.

Regional Analysis

As per the geographical analysis of the telematics market, regions that are making a significant contribution are North America, Europe, Asia Pacific (APAC) and Rest-of-the-World (RoW).

North America’s contribution to the growth of the global market is quite significant. The revenue it generates is better than the rest. This can be attributed to the robust infrastructure that the region has. At the same time, it has a well-formed industrial sector which is generating this demand to stay updated with the tracking of products. North America has almost 60% of all the market players. The U.S. has the maximum contribution as the region’s compelling commercial telematics is providing substantial thrust.

Europe is enjoying the bliss of having a premium setup for the automobile sector. Demand for luxury cars is on the rise where telematics integration is of utmost necessity. The developing sector is having a great run in Europe with support from government initiatives. The APAC region, on the other hand, can record the fastest growth rate during the forecast period. The rise in fleet culture and percolation of the e-commerce segment can boost the regional market growth.

Competitive Analysis:

Players to impact the global telematics market include BMW Group (Germany), HARMAN International Industries Inc.(U.S.), Verizon Communication Inc.(U.S.), AT&T (U.S.), Vodafone Group Plc. (U.K.), Ford Motor Company (U.S.), Tom-Tom International BV (Netherland), Telefonica SA (Spain), Mix Telematics (South Africa), Trimble Navigation Ltd. (U.S.) and others.

Among the other vendors InfoTrack Telematics (Japan), ClickSoftware Technologies Ltd. (U.S.),Tantalum Corporation (U.K), Agero Inc. (U.S.), NXP Semiconductors (the Netherlands), AutoVision Wireless Inc (Canada), Ingenie (U.K), Vista Equity Partners (U.S.), Smart Telematics Ltd (India), BOX telematics limited (U.K), Calamp Corp. (U.S.), and ORBCOMM Inc. (U.S.) provide substantial support to the overall market growth.        

In January 2018, Samsung declared their intention to launch a 5G supported telematics system called telematics control unit (TCU) in collaboration with HARMAN. It will primarily work with 4G technology,but in the future, it will help 5G networks as well.

In December 2018, CCC Information Services Inc. and its affiliates (CCC) made it public that State Automobile Mutual Insurance Company (State Auto) is interested in the CCC X data exchange technology.This would initiate a varied range of telematics capabilities to back up the insurer’s vision to transform the policyholder experience through innovation.