According to the latest market research study released by Technavio, the global automotive telematics market is expected to grow at an impressive CAGR of more than 24% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global automotive telematics market based on fitment:
Global automotive telematics market shares by fitment 2015
|
Embedded |
55% |
|
Tethered |
25% |
|
Smartphone Integration |
20% |
Source: Technavio
Global automotive telematics market for embedded fitment
The global automotive telematics market for embedded fitment accounted for more than 9 million units in 2015 and is expected to grow at a CAGR of around 36% by 2020. The embedded systems offer high connectivity to achieve efficient fleet management and better navigation services resulting in the growth of this market segment. The OEMs in the industry are collaborating with various vendors to establish maximum control points by employing business models to grab the center stage of the telematics ecosystem. These partnerships are encouraging the end-users towards the adoption of embedded telematics.
“The government organizations across several countries are taking initiatives to ensure better road safety and promote vehicular safety. Developed countries in Europe and Russia are mandating the telematics services like eCall and stolen vehicle assistance in cars. The vendors in the market are also focusing on the expansion of their product portfolios and global footprint by investing in emerging markets like India, China, and Brazil,” says Siddarth Jaiswal, a lead analyst at Technavio for research on automotive electronics.
Global automotive telematics market for tethered fitment
The global automotive telematics market for tethered fitment accounted for around 4 million units in 2015 and is expected to grow at a CAGR of about 28% by 2020. The increased adoption of tethered telematics solutions in developed nations like the US and Europe will promote the evolution of this market segment during the forecast period. The tethered telematics provides an easier alternative for telematics installation than the other variants making it a popular choice across several regions in the market. These solutions are used in the logistics sector as it provides the fleet operators a cost-effective alternative to monitoring and organize transactions. Furthermore, the manufacturers are aiming to provide full-scale telematics services to countries like India and China during the forecast period.
Global automotive telematics market for smartphone integration fitment
The global automotive telematics market for embedded fitment accounted for more than 3 million units in 2015 and is expected to grow at a CAGR of around 35% by 2020. The rising demand for high-resolution HMI that can be integrated with smartphones is primarily driving the growth in this market segment. The vendors are providing smartphone integrated telematics solutions to meet the increasing requirements of the customers for connected devices. The OEMs in the market are investing in the application development for in-vehicle infotainment system OS. This development and product innovation initiatives will increase the penetration of smartphone integrated solutions in the market over the period of next four years.
The top leading vendors operating in the global automotive telematics market are:
- Agero
- Airbiquity
- Continental
- Verizon Telematics
- Visteon
Other prominent vendors in the market include AT&T, Bynx, Connexis, Ericsson, Fleetmatics, GM, Luxoft, Magneti Marelli, Octo Telematics, PTC, Robert Bosch, eleCommunication Systems, TELENAV, Telogis, TomTom International, Valeo, Vodafone Automotive, and WirelessCar.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Telematics Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Telematics Market 2016-2020
- Global Automotive Human Machine Interface Market 2016-2020
- Global Intelligent Transport System Market 2016-2020
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