A combination of informatics and telecommunications platforms together forms telematics. Telematics is the basis of vehicle automation and includes functions such as GPS tracking device & navigation, wireless safety communication, integrated hands-free cell phone communication, and automatic driving assistance. It also includes heavy equipment tracking, vehicle condition tracking by insurance providers, emergency assistance, safety guidance, and fuel consumption & maintenance cloud monitoring.
The global telematics market worth $61.27 Billion by 2030, growing at a CAGR of 16.2%
.jpg "The Global Telematics Market 2020-2030 (USD Billion)")
Rising use of advanced network communication systems
Increasing the use of advanced network communication systems is one of the major contributions to the growth of the global telematics market. Trending technology of including smartphone applications based on iOS and Android platforms is expected to change the current scenario of vehicle connectivity. Earlier, Bluetooth was the only medium of connecting smartphones to the vehicle wirelessly; however, in the coming years, the rising adoption of smart infotainment systems and navigations systems across entry-level, mid-level as well as luxury cars is to be witnessed. Increasing demand for safety & security features such as lane assist, fatigue alert, collision avoiding systems are expected to bring telematics in the picture. Furthermore, supporting government regulations regarding the implementation of automotive telematics is expected to drive the market over the forecast period.
Data security concern
Data security is one of the major concerns of telematics providers and is expected to hinder the market growth. In telematics, data is stored and monitored across various areas which include the real-time location of the vehicle and heavy equipment, diver information, driver performance, and vehicle details. Increasing penetration of the internet and overall demand for connectivity has resulted in a high risk of hacking and data breach. The database where all the information is stored is highly susceptible to hacking which may hamper the growth of the market.
Navigation service holds a significant market share
Navigation, diagnostics, on-demand infotainment, fuel management, maintenance, and security are some of the services analyzed in this market. Among these, the navigation service is expected to have a significant market share during the analysis period. The navigation-based system enables the user to get real-time traffic, road status, weather and information in the local areas. Navigation systems such as GPS have gained tremendous popularity across the world over the past few years on account of the high complexity of roads. Online availability of real-time traffic information has resulted in GPS and GNSS being widely implemented in vehicles.
Europe holds the largest market share in the global market
Geographic regions included in the global telematics market study are North America, Asia Pacific, Europe, South America, and Middle East & Africa along with its major countries. Among these regions, Europe is expected to have the largest share in the global market in a given forecasted period. There are more than 256 million passenger cars on Europe’s roads today. The European Union government is taking several initiatives such as eCall to bring quick support in case of an accident and collision. In 2015, this regulation was made mandatory for all new cars to be equipped with eCall technology. Rising awareness for the safety of the driver, the cumulative market infiltration rate of mobiles and smartphones, and rigid automotive safety norms are a few factors boosting the market growth.
Key Market Players
• Magneti Marelli S.P.A.
• Tomtom International Bv.
• Qualcomm Technologies, Inc.
• Intel Corporation
• Trimble Inc.
• Robert Bosch GmbH
• Continental AG
• LG Electronics
• Verizon
• Harman International
• Delphi Automotive PLC
• Visteon Corporation
• Others
telematics market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | $ 61.27 Billion |
| Growth Rate | CAGR of 16.2% during 2020-2030 |
| Segment Covered | echnology, Service, Application, Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Verizon Communication Inc. (U.S.), HARMAN International Industries Inc. (U.S.), Tom-Tom International BV (Netherland), AT&T (U.S.), Vodafone Group Plc. (U.K.), Ford Motor Company (U.S.), BMW Group (Germany), Telefonica SA (Spain), Mix Telematics (South Africa), and Trimble Navigation Ltd. (U.S.) |
Key Segment Of The telematics market
By Technology (USD Billion)
• Embedded
• Portable
• Hybrid
By Service, (USD Billion)
• Navigation
• Diagnostic
• On Demand Infotainment
• Maintenance
• Security
By Application (USD Billion)
• Commercial
• Automotive
• It & Telecommunication
• Healthcare
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Euorpe dominated the market for telematics market and accounted for the largest revenue share.
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The base year for the report is 2023 in telematics market