Global automotive telematics market report published by Accurize Market Research forecast that the global market is expected to reach $74 billion by 2024; growing at a CAGR of 20.3% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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Increasing awareness regarding the benefits of telematics in vehicles and increasing road congestions coupled with the high number of vehicle mishaps & road accidents across the globe to drive the growth of the market

Increasing awareness regarding the benefits of telematics in vehicles and increasing road congestions coupled with the high number of vehicle mishaps & road accidents fuel the demand for the global automotive telematics market. Moreover, support from the government to use telematics in vehicles and increasing demand for wireless communication systems by passengers also boosts the growth of the market.

Market Segmentation

The global automotive telematics market has been bifurcated on the basis of application, vehicle type, and geography. By application, it is further segmented into vehicle tracking, satellite navigation, fleet management, vehicle safety communication, and others. Furthermore, vehicle type is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles.

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By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers Germany, France, the U.K., Italy and the Rest of Europe. Asia-Pacific covers China, India, Japan and Rest of Asia Pacific. The rest of the World (RoW) covers South America, the Middle East, and Africa.

“Vehicle tracking accounted for the largest market share in the applications segment", says Accurize

By applications, vehicle tracking and fleet management accounted for 35% and 28% of the market respectively, in the year 2017.

In-vehicle type segments, passenger vehicle accounted for the maximum share of 54% followed by light commercial vehicles with 27%, in 2017.

“The Asia Pacific dominated the global market with the highest market share over the forecast period", says Accurize

In 2017, Asia Pacific accounts the largest share of the market with 33% followed by North America with 29%. Asia-Pacific is the fastest-growing region in the global automotive telematics market and is expected to continue this trend due to the increasing population and high demand for telematics in personal vehicles.

Top players in the market

The key market players include Mix Telematics, Visteon Corporation, Delphi Automotive Plc., Robert Bosch Gmbh, Airbiquity Inc., Omnitracs LLC, DigiCore Continental Ag, Teletrac Inc., and TomTom Telematics among others.