Global Vehicle Telematics Market 2018 Forecast 2025″ report provides 360° view on Industry by shading light on all major factors like Key Players, Demand for Products, End User & Applications, Future Growth & Forecast.
The global vehicle telematics market size is projected to be worth USD 231.63 billion by 2025 driven by the rising demand for smart connectivity coupled with increasing penetration of Internet of Things (IoT).
Lucrative growth of the commercial vehicles market paired with the rising demand for connected vehicles is expected to boost the market for telematics over the forecast period. Automobile manufacturers are demanding for integrated solutions such as fleet management services to track the position of vehicles, the distance covered, and the route on which the vehicles are moving. Logistic companies are shifting from traditional systems to telematics as these systems provide accurate data in real time and help guide the driver in case of any emergencies. With increase in inclination towards adoption of smart infrastructure for transportation, the commercial vehicle telematics market is projected to reach around USD 144.34 billion by 2025.
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More than 24 million commercial units were sold in 2017 and also the sale of commercial vehicles is expected to grow with steady rate in coming years. Surge in sale for commercial vehicle couple with increase in adoption of intelligent communicating systems deployed in vehicle is driving the growth of the global commercial vehicle telematics market.
With increase in adoption of connected vehicles, the demand for related hardware is projected to surge at a CAGR close to 20% by 2025. To establish high-speed communication via telematics, the need for supporting technologies is projected to spur investment in development of 5G enabled devices, owing to which we estimate that the share of 5G technology used for vehicle telematics is projected to exceed USD 30 billion in terms of revenue. For instance, In February 2016, LG Electronics (LG) and Intel announced partnership to manufacture and pilot 5G-based telematics technology. Such partnerships are opening new business opportunities and assist market leaders in gaining competitive advantage in the market.
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North America dominated the global vehicle telematics market and is expected to account for more than a third of the telematics market share by 2025. The region is expected to be a leader within the global vehicle telematics market over the forecast period. On the other hand, Asia Pacific is expected to grow with a CAGR of 26.3% during the forecast period. This is due to growing vehicle production along with raising car theft in the region.
Major players operating in vehicle telematics market include Inseego Corporation, LG Electronics Inc., HARMAN International Industries, Inc., BOSCH, Continental AG, Denso Corporation, Magneti Marelli S.p.A., Visteon Corporation, Fujitsu Ten Limited / DENSO Ten Limited, Peiker Acustic GmbH & Co. KG, Novero, Ficosa Internacional SA, Huawei Investment & Holding Co., Ltd., Flaircomm Microelectronics, Inc., PTC, Inc., Zonar Systems, Inc, Trimble Inc., Verizon Telematics, Inc., MiX Telematics, AirIQ Inc., Omnitracs, LLC, Masternaut Limited, Octo Telematics S.p.A., TomTom NV, and Volkswagen AG.
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Key Segments of the Global Vehicle Telematics Market
Type Overview, 2014-2025 (USD Million)
- Fleet/asset Management
- Navigation & Location-based Systems
- Infotainment Systems
- Insurance Telematics
- Safety & Security
Remote Alarm & Incident Monitoring Solutions
- Integration & Deployment
- Consulting & Design
- Maintenance & Training Services
Vehicle Type Overview, 2014-2025 (USD Million)
- Passenger Cars
- Commercial Vehicles
Product Overview, 2014-2025 (USD Million)
Provider Overview, 2014-2025 (USD Million)
Bandwidth, 2014-2025 (USD Million)
Regional Overview, 2014-2025 (USD Million)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
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