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  • Telematics Solutions Market| Latest Development and Trends by 2022




    (Transportation-News.com, September 10, 2019 ) The growing number of regulatory mandates for vehicle safety and security is driving the growth of this market. The regulations that are projected to influence the global market include automatic crash notification, eCall, remote diagnostics, on-road assistance, and vehicle tracking. Alternatively, increasing consumer demand is projected to drive the market for services such as infotainment and navigation. The market for off-highway telematics solutions is projected to be driven by the increase in demand for fleet management services such as fuel management, maintenance, and location tracking among others.



    The Telematics Solutions 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.



    The telematics solutions market for on & off-highway vehicles is dominated by a few globally established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), LG Electronics (South Korea), Verizon (U.S.), Harman International (U.S.), and Qualcomm Technologies, Inc. (U.S.).



    North America is estimated to be the largest market for on-highway vehicles from 2017 to 2022. North America holds the largest market share due to the presence of key OEMs, strategic partnerships, developed infrastructure, and high adoption rate of innovative solutions. On the other hand, the European market is expected to grow at the highest CAGR during the review period. The global market is driven by the upcoming eCall regulation for passenger cars. Other factors such as organic and inorganic developments by telematics vendors are expected to lead to a significant upsurge in the commercial vehicle telematics market. The region has seen important acquisition activities in the recent past. For instance, TomTom International BV (Netherlands) acquired Fleetlogic (Netherlands) in December 2014 that helped to expand its portfolio in the European market. Similarly, in 2015, Fleetmatics (U.S.) acquired Ornicar (France) to expand its presence in the French market. All these factors have resulted in the growth of the global market in this region.



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    Infotainment and navigation are estimated to have the largest share of this 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 the 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 global market for infotainment and navigation services.



    The embedded form factor dominates the global market and is expected to remain the largest and fastest-growing segment during the review period. This can be attributed to passenger safety, improved user experience, and vehicular data privacy. In 2016, the European Union (EU) adopted the General Data Protection Act. The European Automobile Manufacturers Association (ACEA) has lauded this move by the EU as it helps to address problems related to data security and accessibility of vehicle information by a third party. Additionally, embedded solutions offer faster and reliable data communication between the vehicle and infrastructure, which reduces the turnaround time and improves process efficiency. All these factors have contributed to the market share of the embedded telematics solutions for on-highway vehicles.



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    The commercial vehicles segment is estimated to have the largest share of the telematics aftermarket for off-highway vehicles. The growth of this segment can be attributed to the benefits such as driver behavior monitoring, predictive maintenance, high fuel efficiency, and fleet analytics. As per OICA, the global commercial vehicle parc stood at 335.1 million units in 2015. Further, in December 2015, the FMCSA mandated the adoption of Electronic Logging Device (ELD) compliance, which will be completely implemented within two years from the date of publishing. The government of China also mandated telematics and GPS technology in commercial vehicles. Due to the rise in global vehicle parc and government regulations, vehicles need to meet the updated requisites. This is expected to drive the telematics aftermarket further for this segment.



    Target Audience:



    Automotive OEMs

    Construction and agricultural equipment OEMs

    Manufacturers of telematics devices

    Distributors and suppliers of telematics devices and components

    Automotive OEMs and component manufacturing associations

    Government and regulatory authorities



    MarketsandMarkets

    Mr. Shelly Singh

    1-888-600-6441

    newsletter@marketsandmarkets.com

    Source: EmailWire.Com

    Source: EmailWire.com

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