Research and Markets - Global Motor Racing Telematics (MRT) Market - Analysis, Technologies & Forecasts to 2021 - Key Vendors are Agero, Airbiquity, Continental, Verizon Telematics & Visteon Corporation
The global motor racing telematics market to grow at a CAGR of 16.17% during the period 2017-2021.
The report, Global Motor Racing Telematics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is IoT platform integration for optimum engine performance. The motorsports industry is rapidly evolving and is witnessing the development of innovative technologies in the field of automotive powertrain such as engine, transmission and chassis among others. The extensive use of electronic sensors and microprocessors in the vehicle along with advanced control modules has led to the development of more advanced racing vehicles. With the fusion of more electronic components within the vehicles, the vehicles are becoming much more efficient both in terms of their performance on the field and carbon emissions.
According to the report, one driver in market is negligible price inflation by OEMs on telematics service offerings. The adoption of telematics solutions in vehicles is increasing at a rapid rate year-on-year. Data reveals that the luxury vehicle segment, where remote vehicle diagnostics are largely deployed, has not seen any significant price hikes even though many vehicles in this category are being engineered with connectivity technologies.