Industry Background:
Telematics software is designed to track vehicles, airplanes, location-based systems, telehealth solutions, and others. The telematics technology embedded with vehicles and devices to deliver real-time transmission, monitoring, and management. With the growing requirement of tracking vehicles on a real-time basis and observe drivers, and other parameters such as monitoring health, temperament while diving is driving the demand for telematics software. This market is highly growing in the North America region, as this region accounts for around USD 29.48 Billion in FY 2017, and it is expected to reach USD 102.27 Billion by FY 2022.This growth is primarily driven by The increased purchasing power of customers and shifting its preference for the high-end vehicles then simple transport machines. With the development of 4G and 5G technology is playing a major role in this market. and An increasing number of automobiles in developed regions including the USA, Canada, Mexico, and other regions. These regions require advanced road assistance and vehicle crash management..
Globally, a noticeable market trend is evident Vehicles are being manufactured with embedded SIMs to avail telematics-based services such as UBI products that can be accessed through smartphones or pre-installed screen in the vehicles
. Major Players, such as Aplicom (Finland), Aptiv (Ireland), Chetu (United States), Descartes (Canada), Digital Matter (Australia), Key Telematics (United States), Mecomo (United States), Omnitracs (United States), RentalMatics (Ireland) and SkyHawk Telematics (Canada) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Jun 2020, Ford Commercial Solutions announced the launch of Ford Telematic, basically web-based software platform, this helps commercial vehicle customer better manage their fleets. Through this initiative enhance their business and offerings.
Market Drivers
- The increased purchasing power of customers and shifting its preference for the high-end vehicles then simple transport machines. With the development of 4G and 5G technology is playing a major role in this market.
- An increasing number of automobiles in developed regions including the USA, Canada, Mexico, and other regions. These regions require advanced road assistance and vehicle crash management.
Market Trend
- Vehicles are being manufactured with embedded SIMs to avail telematics-based services such as UBI products that can be accessed through smartphones or pre-installed screen in the vehicles
- The government in most developed and developing nations are making it mandatory for fleets to come up with embedded telematics devices such as navigation devices or black-box for real-time position tracking and maintenance
Restraints
- High Cost Associated with Data Transmission
- Lack of Approval Process and Unified Port for the Telematics Devices
Opportunities
An increasing number of road accidents because of the speeding car, this creates a huge opportunity for the usage of telematics software and Rising government focus on technology-based vehicle monitoring infrastructure. Government from developed regions has implemented regulation for vehicle users for e-call technology, and others to enhance the road safety assistance
Challenges
Vehicle Connected Over Same Network Can be Easily Hacked and Controlled, that Can Cause Harmful Damages and Lack of Awareness Among Individual Car Owners and Resistance to the Additional Expenditure for the Installation of New Devices
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Telematics Software Study Sheds Light on
The Telematics Software Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Telematics Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Telematics Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.