Industry Background:
An automotive telematics system provides services such as Safety & Security, information & navigation, diagnostics and entertainment over a telecommunications device thus, keep the drivers updated with safety and real time performance. Automotive industry is going through rapid transformation as connected cars being the new norms. Though, there has been lot of advancement in telematics, but cost optimization and integration of various services remain to be the major challenge as well as opportunity.
Attributes | Details |
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Study Period | 2018-2029 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Agero Inc [United States], Airbiquity Inc [United States], AT&T, Inc. [United States], Continental Ag [Germany], Delphi Automotive Plc [Ireland], Intel Corporation [United States], Magneti Marelli S.P.A [Italy], Mix Telematics [South Africa], Robert Bosch Gmbh [Germany], Verizon Communications Inc [United States], Visteon Corporation [United States] and Wirelesscar [Sweden] |
This growth is primarily driven by Growing Number of Vehicular Accidents and Need to Prevent Them and Shifting Consumer Preferences Towards a More Connected Driving Experience.
Globally, a noticeable market trend is evident Surging Demand for Luxury Cars for Safe and Comfortable Driving
The Auto Parts & Equipment sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Agero Inc [United States], Airbiquity Inc [United States], AT&T, Inc. [United States], Continental Ag [Germany], Delphi Automotive Plc [Ireland], Intel Corporation [United States], Magneti Marelli S.P.A [Italy], Mix Telematics [South Africa], Robert Bosch Gmbh [Germany], Verizon Communications Inc [United States], Visteon Corporation [United States] and Wirelesscar [Sweden], etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2022, Elektrobit and Airbiquity announced a joint, pre-integrated over-the-air (OTA) solution enabling secure, next-generation OTA services for the mobility industry. The solution combines Elektrobit's in-vehicle OTA update software product with Airbiquity's multi-ECU OTA software management platform, allowing OEMs to easily source and build end-to-end OTA systems for their vehicles.
In February 2019, AT&T and Vodafone Business are collaborating to accelerate Internet of Things (IoT) connectivity and innovation in the automotive industry. The two companies will bring together industry-leading expertise to develop superior and consistent connected car solutions and experiences for customers in the combined spaces of North America, Europe, and Africa.
Influencing Trend:
Surging Demand for Luxury Cars for Safe and Comfortable Driving and Adoption of video telematics to precisely track driver behavior
Market Growth Drivers:
Growing Number of Vehicular Accidents and Need to Prevent Them and Shifting Consumer Preferences Towards a More Connected Driving Experience
Challenges:
High Cost Associated with Automotive Telematics System and Ensuring Software Integrity and Bandwidth Optimization for Updates
Restraints:
Issue Related with Hacking, Privacy and Security and Chances of Error and Potential Breakdown in Communication
Opportunities:
Growing Number of Connected Cars in Emerging Economies and Rising Popularity of Telematics Based Insurance and Fleet Management
AMA Research follows 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 showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze 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 includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive Telematics System Market
- Analysis about New Entrants in Automotive Telematics System Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive Telematics System Study Sheds Light on
The Automotive Telematics System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Telematics System industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Telematics System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.