What is Telematics Solutions Market Scope?
Telematics is the joining of two sciences such as telecommunications, a branch of technology including cables and phone lines, and informatics such as computer systems. Today, the term is usually used in reference to the telematics solutions utilized in commercial fleet vehicles. The telematics technology integrates the information flowing to and from the vehicles through wireless networks to offer smart automation and to enrich the overall driving experience in the automotive industry. Furthermore, telematics enhances the driver’s and traveler’s experience by efficient management of information and it enables to provide more safety and security, improved navigation, and more personalized traveling experience. The potential of telematics solutions is huge, and it is in the stage of evolution now and expected to gain huge prominence during the projected period.
The Telematics Solutions market study is being classified and major geographies with country level break-up. According to AMA, the Global Telematics Solutions market is expected to see growth rate of 14.59% and may see market size of USD61.16 Billiion by 2026.
Analysts at AMA predicts that Players from United States and German will contribute to the maximum growth of Global Telematics Solutions market throughout the predicted period.
Magneti Marelli S.P.A. (Italy), Tomtom International Bv (Netherlands), Robert Bosch Gmbh (Germany), Continental Ag (Germany), Visteon Corporation (United States), Lg Electronics (South Korea), Verizon (United States), Harman International (United States), Delphi Automotive Plc (Aptiv) (Ireland), Qualcomm Technologies Inc. (United States), Intel Corporation (United States), Trimble Inc. (United States), At&T (United States), Mix Telematics (South Africa), Octo Telematics (Italy) and Airbiquity Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Astrata Group (Singapore), AirIQ Inc. (Canada), Masternaut Limited (France), CalAmp. (United States), The Descartes Systems Group Inc. (Canada), Garmin Ltd. (United States), Box Telematics (United Kingdom), Act soft (United States) and Teletrac Navman (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Telematics Solutions market by Type, Application and Region.
On the basis of geography, the market of Telematics Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
On 25 Feb 2019, AT&T and Vodafone Business are working together to accelerate Internet of Things (IoT) connectivity and innovation in the automotive industry. The companies will bring together their industry-leading expertise to develop superior and consistent connected car solutions and experiences for customers across their combined footprints in North America, Europe and Africa. By working together, AT&T can innovate faster and help global customers bring connectivity, entertainment and telematics to more vehicles across our respective footprints.
On 22 Jan 2019, Bridgestone Europe NV/SA, a subsidiary of Bridgestone Corporation in EMEA, has entered into an agreement with TomTom to acquire its telematics business, for a cash consideration of Euro 910 million. The transaction will bring together the world’s largest tyre and rubber company with the number one provider of digital fleet solutions in Europe, creating a leading data platform for connected vehicles. TomTom Telematics will accelerate Bridgestone on its journey to becoming a mobility solutions leader in the region, and the combination of both companies’ offerings will allow Bridgestone to cross-sell tyres and solutions to a larger customer base.
Influencing Market Trend
- The Rise in Trend of Connectivity Solutions
Market Drivers
- Rising Demand for Smartphones Supplements the Adoption of Telematics Solutions and Services
- Growing Government Mandate for Deploying Vehicle Tracking in Commercial Vehicles
- The Rising Demand for Driver and Vehicle Safety
Opportunities
- Telematics Data Can Be Harnessed to Make Better-Informed Business Decisions
- The Increasing Penetration of Telematics among the Developing Countries
Restraints
- Increased Communication, Leading to Security and Privacy Concern
Challenges
- Lack of a Standardized System
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