Automotive Telematics Solution Market Size, Share and Global Trend By Applications (Vehicle Tracking, Fleet Management), By Vehicle Type (Passenger Vehicles, Light, Heavy Commercial Vehicles ), By Distribution Channel (OEM , Aftermarket) and By Regional Forecast, 2024-2032

According to the international automotive outlook symposium federal reserve bank, automotive industry capacity grows production from 95 Mn in 2018 and expected to achieve a market value of 97 Mn in 2019, backed by solid economic development. The automotive telematics solution is a combination of telecommunication and informatics solutions adopted in the automotive industry. The combination provides various services such as navigation, safety, and security to automotive vehicles. Tracking, car sharing, and generating emergency warning systems for vehicles are the primary purpose of telematics in an automotive vehicle. Some of the key features of automotive telematics solutions include automatic crash notification, roadside assistance services, vehicle tracking, and navigation assistance. Other features include traffic assistance, concierge services, infotainment services, fleet management, and diagnostics. Recent development in automotive telematics solution consists of the adoption of advanced analytics, predictive AI, and back-office business processes (such as CRM, ERP, and SCM) in vehicles.

Technical advancements in NFC (Near field Communication) services, GPS (Global Positioning System) and IoT based applications are expected key drivers are favoring the market growth. Further, the growing market of connected vehicles (M2M), fast adoption of platform-as-a-service (PaaS) technology, and digital radio modules in connected vehicles are expected to drive the growth of automotive telematics solution market during the forecasted period.  For instance, in 2018, Trimble Inc. acquired Viewpoint from Bain Capital with an aim to strengthen connected vehicles (M2M) services worldwide. This acquisition with an objective to deploy an IoT based M2M resource management within their project operations in all sorts of vehicles which further leads to better decision making, improved safety, and higher profitability.

KEY PLAYERS COVERED

Some of the major players in the global automotive telematics market include ID Systems Inc., Autotrac, Teletrac Inc., Trimble Navigations and Omnitracs LLC, FleetmaticsIrL Limited, DigiCore, MiX Telematics, Airbiquity Inc, Masternaut Limited, Telogis, and TomTom Telematics among others.

SEGMENTATION

REGIONAL ANALYSIS

Globally, North America is anticipated to have the maximum market share in the global automotive telematics solution market during the forecasted period. This growth is due to the high acceptance of Human-Machine Interface (HMI) technology and Installation of black boxes for security and safety services in vehicles. Further, in APAC, countries such as China and India are expected to dominate the automotive telematics market owing to increasing government regulations about safety and security.

Key Industry Developments

• June 2018 - TomTom Telematics BV. launched a new version of fleet management, Software-as-a-Service solution WEBFLEET 3.3 enabled with predictive AI. This solution allows fleet operators to review combined vehicle data from different sources in one easy-to-use interface.