DUBLIN, Jan. 11, 2024 /PRNewswire/ — The “Global Automotive Embedded Telematics Market Size, Share & Trends Analysis Report by Solution, Component (Hardware, Services, Connectivity), Application, Region, and Segment Forecasts, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global automotive embedded telematics market size is expected to reach USD 58.36 billion by 2030. It is anticipated to grow at a CAGR of 18.6% from 2023 to 2030. Increased demand for real-time vehicle tracking and advanced driver safety features are some of the factors expected to drive the market growth.
The automotive embedded telematics market is expected to witness significant growth over the forecast period on account of the provision of customization options such as bundled packages, pay-per-use services, and premium subscription services. Moreover, government regulations such as eCall by the European Union (EU) in 2018, CONTRAN 245 by Brazil in 2013, and ERA-GLONASS by Russia in 2013 have encouraged the adoption of these systems.
The increasing volumes of passenger and commercial vehicles and demand for improved in-vehicle connectivity in the Asia Pacific region are expected to accelerate market growth. The installation/inclusion of features such as automatic collision notifications, hands-free calling, and driver assistance in connected passenger and commercial vehicles further encourages the growing adoption of automotive embedded telematics systems. Introduction of navigation services, along with the implementation of data services such as application-based services, content management, among others are anticipated to further fuel the demand in the near future.
Stringent government regulations concerning the safety of passengers have necessitated Original Equipment Manufacturers (OEMs) to install security systems in vehicles. The European Union mandated the inclusion of an eCall alarm system in all passenger cars and light commercial vehicles produced post May 2018. The regulation applies to all new cars manufactured in Europe. In addition to the instantaneous deployment of airbags, the eCall system automatically places a call to an emergency response center in the event of an accident or other emergencies. The GPS installed in the car is used to determine the vehicle’s location to facilitate the immediate deployment of emergency assistance to that location. Such favorable government policies are anticipated to contribute to the market expansion in the forthcoming years.
Automotive Embedded Telematics Market Report Highlights
- Based on solution, the global automotive embedded telematics market is segmented into safety & security, information & navigation, entertainment, and remote diagnostics. The safety & security segment captured the highest revenue share of around 47.9% in 2022.
- Based on component, the market is segmented into hardware, services, and connectivity. The services segment accounted for the highest revenue share of around 51.4% in 2022 and is expected to witness the fastest CAGR of 21.7% during the forecast period, owing to an increase in service content.
- Based on application, the market is segmented into passenger cars and commercial vehicles. The passenger cars segment accounted for the dominant revenue share of around 74.5% in 2022.
- Europe dominated the market and accounted for the largest revenue share of 33.6% in 2022. The presence of advanced infrastructure and robust telecommunications networks in Europe supports the developing and implementation of embedded telematics systems.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Automotive Embedded Telematics Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Application Value Chain Analysis
3.3. Market Dynamics
3.4. Automotive Embedded Telematics Market Analysis Tools
Chapter 4. Automotive Embedded Telematics Market: Solution Estimates & Trend Analysis
4.1. Automotive Embedded Telematics Market: Key Takeaways
4.2. Automotive Embedded Telematics Market: Solution Movement & Market Share Analysis, 2022 & 2030
4.3. Safety & Security
4.4. Information & Navigation
4.5. Entertainment
4.6. Remote Diagnostics
Chapter 5. Automotive Embedded Telematics Market: Component Estimates & Trend Analysis
5.1. Automotive Embedded Telematics Market: Key Takeaways
5.2. Automotive Embedded Telematics Market: Component Movement & Market Share Analysis, 2022 & 2030
5.3. Hardware
5.4. Services
5.5. Connectivity
Chapter 6. Automotive Embedded Telematics Market: Application Estimates & Trend Analysis
6.1. Automotive Embedded Telematics Market: Key Takeaways
6.2. Automotive Embedded Telematics Market: Application Movement & Market Share Analysis, 2022 & 2030
6.3. Passenger Cars
6.4. Commercial Vehicles
Chapter 7. Automotive Embedded Telematics Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
- Ford Motor
- Continental
- General Motors
- TomTom International BV
- Hyundai Motor Company
- Toyota Motor
- MiX Telematics
- INFINITI
- BMW Group
- Verizon
For more information about this report visit https://www.researchandmarkets.com/r/yha34y
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