The Global Telematics Solutions market accounted for $21.66 billion in 2018 and is expected to reach $92.46 billion by 2027, growing at a CAGR of 17.5% during the forecast period.
Some of the key factors propelling the market growth are developments in 5G connectivity, increase in efforts by the government for developing an intelligent transportation system, increasing demand for smartphone features in the car and automated driving technologies. However, lack of telematics solutions infrastructure in emerging countries is restricting the market growth.
By form factor, the embedded system is anticipated to grow at the significant rate during the forecast period, due to various disruptive factors such as government mandates, cost optimization of service plans, and growth of cloud-based services. Many telematics services cannot be used efficiently without having an embedded connectivity solution in the car such as eCall, remote diagnostics, and many more which is increasing the adoption of embedded connectivity.
Based on the geography, Asia-Pacific region is expected to have considerable market growth during the forecast period, due to strong economic growth, ongoing advancement in the automotive sector and rapid urbanization. Asia Pacific market is the increased demand for fleet management and navigation services, particularly in China, Japan, India and South Korea. Moreover, a rise in the trend of connectivity solutions is expected to boost the growth of the APAC telematics solutions market.
Some of the key players in telematics solutions market include Continental, Robert Bosch, Qualcomm Technologies, Inc., Visteon Corporation, LG Electronics, Tomtom International Bv., Delphi Automotive PLC, Verizon, Trimble Inc, Magneti Marelli S.P.A., Harman International, Intel Corporation, Garmin Ltd., AT&T, and Octo Telematics.
What the report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
5 Global Telematics Solutions Market, By Component 5.1 Introduction 5.2 Communication Devices 5.2.1 5G 5.2.2 3G 5.2.3 4G 5.2.4 WiFi 5.2.5 Bluetooth 5.3 Audio/Video Interface 5.4 CAN Bus 5.5 Telematic Control Unit 5.6 Navigation Systems 5.7 Infotainment Display Unit
6 Global Telematics Solutions Market, By Form Factor 6.1 Introduction 6.2 Tethered 6.3 Integrated 6.4 Embedded