Global automotive telematics market expected to grow at an impressive CAGR of 33% by 2019, says Technavio

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This research report includes a forecast of the global automotive telematics market until 2019. It provides market shares for its leading regions such as EMEA, APAC, and Americas. The research segments the market according to passenger vehicles, light commercial vehicles and heavy commercial vehicles. The report also details the leading vendors of the market, including Agero, Aribiquity, Continental, and Verizon.

Technavio’s market research analysts estimate the global automotive telematics market to reach over 55 million production units between 2015 and 2019. Increasing integration of smartphones in automobiles to enhance the in-vehicle experience of the driver and passengers, is primarily driving this market’s growth. The automotive telematics market in APAC is expected to witness considerable growth during the forecast period, because of growing demand from emerging markets such as India, China, Malaysia, and Indonesia.

The new market research report from Technavio provides a breakdown and analysis of the automotive telematics segments by technology.

Of late, the automotive telematics market is witnessing the integration of smartphones and tablets in automobiles. Changing consumer preferences for built-in connectivity and telematics in automobiles has propelled the vendors and manufacturers to connect smartphones and tablets to the in-vehicle entertainment and information systems. This will help consumers to access enhanced entertainment and information in their vehicles. For instance, Apple’s car integration CarPlay interface is available through Pioneer’s aftermarket in-dash infotainment offerings,” says Sriram Mohan, Lead Analyst, Automotive, Technavio Research.

The global automotive telematics market is expected to witness huge growth in terms of revenue during the forecast period due to the growing application of telematics for fleet management systems. Telematics in commercial vehicles improves the productivity of the mobile workforce, lowers carbon emissions, and enhances the fuel economy of the vehicles. Also, governments across the world are mandating the installation of factory-fitted telematics devices in vehicles, owing to road safety concerns and increasing auto thefts.

The key vendors in the global automotive telematics market are Agero, Aribiquity, Continental, and Verizon. The market is witnessing an increase in collaboration of the automotive telematics and the automobile insurance industry that is boosting growth. The leading vendors are looking to leverage on the opportunity presented by the introduction of electric vehicles (EVs) in the market. The use of automotive telematics in the EVs is also expected to propel the market growth in the coming years.

A more detailed analysis is available in the Technavio report, Automotive Telematics: Market Research Report 2015-2019.

We can customize reports by other regions and specific segments upon request.

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