Global Automotive Telematics Market to Reach a Market Size of $152.7 Billion by 2024 - KBV Research
25 Sep, 2018, 14:30 BST
NEW DELHI, September 25, 2018 /PRNewswire/ --
According to a new report Global Automotive Telematics Market (2018-2024), published by KBV Research, the global Automotive Telematics market is expected to attain a market size of $152.7 billion by 2024, growing at a CAGR of 23.0% during the forecast period.
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Advent of smart phones has changed the definition of connectivity. People now expect to stay connected to internet 24*7. Automobile manufacturers strongly believe that providing connectivity solutions in their vehicles will boost their automobile sales. Automotive industry is going through a phase of digital revolution. In the next few years to come, automobiles will transform into communication devices. New hi-tech devices, smart phones, high-speed internet, numerous applications & open sources such as android systems have transformed the concept of connected vehicles.
Access Full Report: https://kbvresearch.com/global-automotive-telematics-market/
The major factors driving the telematics market are safety and security concerns, 24*7 connectivity, superior driving features, online vehicle diagnostics & maintenance alerts, advanced connectivity solutions and others. On the other hand, some of the restraints associated with telematics market are the additional expenses borne by the consumer for availing the telematics services, threat of hackers breaching the security and accessing data or causing nuisance to the vehicle system, non-availability of uninterrupted & seamless connectivity and lack of awareness among consumers in certain regions.
Telematics is used for both commercial as well as passenger vehicles. In order to analyze the market in detail, it has been studied with respect to commercial (light, medium and heavy commercial vehicle), referred to as commercial telematics and passenger vehicle, referred to as Consumer telematics. For all the segments in the report, we have analyzed both the commercial and consumer telematics. In 2017, Commercial Telematics segment dominated the Global Telematics Market By Type with market revenue of $28.4 Billion. This segment would grow with a CAGR of 18.2% during the forecast period (2018-2024).
Based on applications for commercial telematics segment, the market is segmented into Fleet Management, Insurance, Infotainment, Navigation, V2v & V2i, Tele health and Remote alarm & monitoring. Fleet management was the highest revenue-generating segment in 2017.
In terms of End user, Telematics market is segmented into various types such as Logistics & Transportation, Individuals and car rental, Insurance, Healthcare, Media & Entertainment, Automobile manufacturers & dealers and Government agencies. Logistics & Transportation was the largest revenue-generating segment in the overall Telematics market by End user, and would continue to be the maximum revenue generating segment throughout the forecast period, 2018- 2024.
Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa (LAMEA). For both, commercial as well as consumer telematics, North America was the highest revenue-generating segment in 2017.
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key influencing factors of the global Automotive Telematics market have been discussed in the report along with the elaborated company profiles namely Verizon Communications Inc., AT&T Inc., Ford Motor Company, BMW AG Robert Bosch GmbH, Valeo S.A, Harman International Industries, Incorporated, Vodafone Group Plc and TELEFÓNICA, S.A.
Global Automotive Telematics Market Segmentation
By Type
- Commercial Telematics
- Consumer Telematics
Commercial Telematics Market
- By Application
- Solution
- Fleet / Asset Management
- Navigation
- Infotainment
- Insurance
- Tele-health
- Others
- Services
- Design and consulting
- Deployment
- Maintenance
- Solution
- By End User
- Transportation & Logistics
- Insurance
- Healthcare
- Media & Entertainment
- Automotive Industry
- Government Agencies
- By Mode of Deployment
- Automotive OEM
- Aftermarket
Consumer Telematics Market
- By Application
- Solution
- Fleet / Asset Management
- Navigation
- Infotainment
- Insurance
- Tele-health
- Others
- Services
- Design and consulting
- Deployment
- Maintenance
- Solution
- By End User
- Individual & Car Rental Services
- Insurance
- Healthcare
- Media & Entertainment
- Automotive Industry
- Government Agencies
- By Mode of Deployment
- Automotive OEM
- Aftermarket
BY Geography
- North America Automotive Telematics Market
- U.S. Automotive Telematics Market
- Canada Automotive Telematics Market
- Mexico Automotive Telematics Market
- Rest of North America Automotive Telematics Market
- Europe Automotive Telematics Market
- Germany Automotive Telematics Market
- U.K. Automotive Telematics Market
- France Automotive Telematics Market
- Russia Automotive Telematics Market
- Spain Automotive Telematics Market
- Italy Automotive Telematics Market
- Rest of Europe Automotive Telematics Market
- Asia-Pacific Automotive Telematics Market
- China Automotive Telematics Market
- Japan Automotive Telematics Market
- India Automotive Telematics Market
- South Korea Automotive Telematics Market
- Singapore Automotive Telematics Market
- Malaysia Automotive Telematics Market
- Rest of Asia-Pacific Automotive Telematics Market
- LAMEA Automotive Telematics Market
- Brazil Automotive Telematics Market
- Argentina Automotive Telematics Market
- UAE Automotive Telematics Market
- Saudi Arabia Automotive Telematics Market
- South Africa Automotive Telematics Market
- Nigeria Automotive Telematics Market
- Rest of LAMEA Automotive Telematics Market
Companies Profiled
- Verizon Communications Inc.
- AT&T Inc.
- Ford Motor Company
- BMW AG
- Robert Bosch GmbH
- Valeo S.A
- Harman International Industries, Incorporated
- Vodafone Group Plc
- TELEFÓNICA, S.A
Unique Offerings from KBV Research
- Exhaustive coverage of Automotive Telematics Market
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Related Reports:
Global Passenger Information System Market
Global Freight Management System Market
Global Collision Avoidance System Market
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SOURCE KBV Research