NEW YORK, Nov. 1, 2022 /PRNewswire/ —
Report Scope:
This report analyzes different product types, connectivity types, applications, sales channels, vehicle types, and regional market development of automotive telematics. Furthermore, we also segment the market analysis by major countries in this report, such as the U.S., China, Germany, and others where the opportunities for automotive telematics are lucrative.
Read the full report: https://www.reportlinker.com/p06359255/?utm_source=PRN
The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current and future market scenarios.The report also covers leading companies with information on product types, business footprint, revenue, etc.
We have also included a list of other companies in global and regional markets. As well, the report includes a patent analysis for the automotive telematics market, which represents a significant investment area for investors.
The report incorporates the impact of COVID-19 and the Russia–Ukraine war on the global and regional markets.
In this report 2021 is used as the market’s base year, estimated values are provided for 2022, and the market values are forecast for the period of 2022 to 2027. All market values are provided in billions of dollars, and market shares and CAGRs are provided in percentages.
Report Includes:
– 31 data tables and 21 additional tables
– A detailed review and up-to-date assessment of the global markets for automotive telematics
– Analyses of the global market trends, with market revenue data for 2021, estimates for 2022, forecasts for 2023 and 2025, and projections of five year compound annual growth rates (CAGRs) through 2027
– Highlights of the market potential for automotive telematics, industry growth drivers, and areas of focus to forecast the global PCB market into various segments and sub-segments
– Estimation of the actual market size and market forecast for automotive telematics in dollar value terms, and corresponding market share analysis by product type, connectivity, application, vehicle type, sales channel, and geographic region
– In-depth information (facts and figures) concerning market drivers, market deterrents and other macroeconomic forces affecting the current and future market outlook
– Discussion of the industry value chain analysis providing a systematic study of key intermediaries involved, with emphasis on manufacturers, suppliers, and major users of these products
– Holistic review of the impact of COVID-19 and the Russia–Ukraine war on the global and regional markets for automotive telematics
– A relevant patent analysis with significant allotments of patents on automotive telematics technology
– Updated information on recent mergers, acquisitions, partnerships, agreements, collaborations, joint ventures, and market expansions in the automotive telematics industry
– Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
– Descriptive company profiles of the leading global players, including Cartrack, LG Electronics, Zonar Systems and Verizon Connect
Summary:
The telematics market is continuously growing due to growing demand by drivers and fleet managers for more connectivity and vehicle and driver monitoring features in vehicles.Often, telematics users can pay for services on a subscription model according to desired telematics features.
Due to the market’s growth software companies are investing in this business.Furthermore, automotive vehicle manufacturers and hardware manufacturers are working collaboratively to include new and desired systems in new automobiles.
There is also a wide variety of end users interested in the data collected through telematics, such as insurance and risk assessment companies.
Consumers have two ways to access telematics services, either as original equipment installed in new vehicles or via the aftermarket.OEM telematics systems are highly reliable, low in cost (usually included in the vehicle’s price), and subscription services are typically free for one year after purchase of the car.
Commercial fleet managers often look to the aftermarket for appropriate telematics systems. Aftermarket companies such as Geotab, the leader in commercial telematics, offers systems for vehicle monitoring and other packages.
The OEM segment is also driven by government regulations. For example, the federal governments of the U.S. and Canada have mandated use of ELDs (Electronic Logging Devices). An ELD is a device used in commercial trucks to track drivers’ hours of service (HOS). ELD technology automatically records a driver’s driving time and other aspects of their HOS records, allowing for more accessible, more accurate HOS recordkeeping. In the U.S., it has been mandatory to use ELD since December 2017, while in Canada the same mandate was implemented in June 2021.
OEM companies offer two connectivity options in their vehicles, embedded and integrated.The embedded option is highly compatible with in-vehicle technology. Integrated connectivity offers drivers the option, for example, to connect their smartphone with the vehicle’s infotainment system.
In the coming years, the telematics companies engaged in software and services expect higher revenue growth than the hardware manufacturers. At the same time, the hardware side will continue to grow due to increased software-driven technologies that require highly advanced hardware, such as AIpowered dashboard cameras. Many fleet managers are using telematics services to reduce their insurance premiums.These managers share vehicle use-related data with vehicle insurance companies. Based on their analysis of vehicle risk assessment, insurance companies may reduce premiums by up to REDACTED%.
According to BCC Research’s estimates, by the end of 2027, the global value of the automotive telematics market is expected to reach $REDACTED billion. The market is projected to grow at a compound annual growth rate (CAGR) of REDACTED% during the forecast period.
Read the full report: https://www.reportlinker.com/p06359255/?utm_source=PRN
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