The telematics market for on- & off-highway vehicles is projected to grow at a CAGR of 14.37% during the forecast period, to reach USD 40.84 Billion by 2022
Upcoming regulations on vehicle and passenger safety are expected to drive the growth of the telematics market. Other factors such as the increased sales of mid and premium segment vehicles, growing inclination toward entertainment services, technological developments in 5G technology and semi-autonomous/autonomous vehicles, and rising demand for diagnostic data to improve vehicle performance have driven the growth of the telematics market for on- & off-highway vehicles.
Infotainment and navigation is estimated to have the largest share of the telematics market for on-highway vehicles. The growth of this segment is driven by rising consumer demand and increasing adoption by automotive OEMs. Also, the improvements in processing capabilities of the telematics control unit (TCU) have led to the inclusion of features such as interactive voice-based command interface for accessing in-vehicle features.
With the rising number of developments in the field of semi-autonomous vehicles, premium car manufacturers are offering advanced driver safety features along with 3D navigation services. In addition, most of the new passenger cars offer a free trial for infotainment services. However, the renewal of subscription plan is required once the free trial period is over. Continuous infrastructural developments and the rising demand for traffic and routing information are also expected to drive the market for infotainment and navigation services.
Some of the key players in the telematics market include Robert Bosch GmbH (Germany), Continental AG (Germany), LG Electronics (South Korea), Verizon (U.S.), Harman International (U.S.), and Qualcomm Technologies, Inc. (U.S.). Robert Bosch GmbH adopted new product development and expansion as the key strategies to retain its market position, while Continental AG followed strategies of partnership, expansion, and new product development to remain a prominent player in the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Telematics Market for On-Highway Vehicles, By Region, Services & Vehicle Type
7 Telematics Market for On-Highway Vehicles, By Form Factor & Region
8 Telematics Market for On-Highway Vehicles, By Services & Country
9 Telematics Market for Off-Highway Vehicles, By Equipment Type & Services
10 Telematics Market for Off-Highway Vehicles, By Technology
11 Telematics Market for on & Off-Highway Vehicles, By Hardware & Region
12 Telematics Aftermarket for On-Highway Vehicles, By Region & Vehicle Type