Europe Telematics Software and Service Market, By Component (Software/Platform, Services). The Services segment is again divided into Consulting, Implementation, Support & Maintenance), By Deployment (On-Premise, SaaS), By Solutions (Vehicle Tracking/Reco

Europe Telematics Software and Service Market, By Component (Software/Platform, Services). The Services segment is again divided into Consulting, Implementation, Support & Maintenance), By Deployment (On-Premise, SaaS), By Solutions (Vehicle Tracking/Recovery (Fleet Management), Intrusion Detection, Analytics & Reporting, Others), By Application (Secured onboard communication, Behavioral Management, Emergency Calling /Alerts, Fuel Management, Route Planning, Vehicle maintenance and monitoring), and by Country (UK, France, Germany, Spain, Italy, Nordic Countries, Central & Eastern Europe, CIS, Rest of Europe) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Telematics software is any device which merges telecommunications and informatics. Telematics software allows the communication between an electronic device and other devices, or human users over a network. Telematics addresses dynamic mobility management and is critical in measuring real-time vehicle data such as speed, location, routes, performance, on-road behavior, energy consumption, battery levels, estimated time of arrival and much more. Telematics software encapsulates a broad range of technologies. For instance, telematics solutions are behind navigation and GPS systems, hands free calling, driving sensors, wireless communications, in-car multimedia use, and other modern vehicular technologies that involve the transfer of data over a network.
Due to the excellent degree of real-time management and vehicle connectivity, telematics solutions are perfect for fleet management applications. Vehicles fitted with telematics software can be tracked for key information such as speed, erratic driving, fuel usage and efficiency. Telematics represents a major advancement in vehicle monitoring and reporting. With the emergence of connected services and the increased demand among fleet owners, telematics software has become a key differentiator for the automotive manufacturers.
Europe telematics software and services market was valued ~US$ 6 Billion in 2021 and is expected to exhibit a CAGR of ~18% over the forecast period to reach US$ 20 Billion in 2028. Europe telematics software and services market is segmented on the basis of component, deployment, solutions, application, and country. Telematics software offers several advantages such as vehicle tracking, fleet management, reduction in repair and maintenance cost of vehicle, increased safety of driver, and reduction in fuel cost. Furthermore, the growth of telematics software and services market is majorly attributed by growing focus on increasing fleet’s efficiency and shifting preference for purchasing of high-end vehicles. The rising demand for smart connectivity coupled with increased penetration of Internet of Things (IoT) is driving the growth of telematics software and services market in Europe.
Market Dynamics
Shifting Preference for High-end Vehicles
In the European automotive market, sales of high-end vehicles such as sports utility vehicles (SUVs), luxury vehicles is increasing, owing to the rising disposable income of people in many European countries. For instance, according to Stratagem Market Insights, in the year 2019, among the top five high disposable income countries, three are European countries, which is boosting the sales of high-end vehicles in the region.
In addition, the presence of large luxury automotive vehicle manufacturers such as Mercedes-Benz, Audi, BMW, Rolls-Royce plc, is boosting the adoption of telematics software in the region. For instance, luxury Germany-based car manufacturer, Mercedes-Benz has delivered the highest number of cars 2,456,343 in the year 2019, furthermore, Germany and Great Britain were in the top five markets of the company.
List of Merger / Acquisitions in the Market
In December 2019, Octo Telematics acquired Nebula Systems, a U.K.-based company. This acquisition would help Octo to gain expertise in intelligent vehicle diagnostics technology.
In January 2018, Verizon Communications Inc. announced the acquisition of Movildata Internacional, a Murcia, Spain-based provider of commercial fleet management solutions.
In August 2016 Verizon Communications Inc. acquired Fleetmatics, a leading global provider of fleet and mobile workforce management solutions.
Key features of the study:
This report provides in-depth analysis of Europe Telematics Software and Service market size (US$ Million). The compound annual growth rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
It profiles leading players in the Europe Telematics Software and Service market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
Companies covered as a part of this study include MiX Telematics, Octo Telematics, Trimble INC, Verizon, Aplicom, Astrata and Key Telematics
Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
Europe Telematics Software and Service market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Europe Telematics Software and Service market
Detailed Segmentation
Europe Telematics Software and Service Market, By Component:
Software/Platform
Services
Consulting
Implementation
Support & Maintenance
Europe Telematics Software and Service Market, By Deployment:
On-premise
SaaS
Europe Telematics Software and Service Market, By Solutions:
Vehicle Tracking/Recovery (Fleet Management)
Intrusion Detection
Analytics & Reporting
Others
Europe Telematics Software and Service Market, By Application:
Secured onboard communication
Behavioral Management
Emergency Calling / Alerts
Fuel Management
Route Planning
Vehicle maintenance and monitoring
Europe Telematics Software and Service Market, By Country:
U.K.
France
Germany
Spain
Italy
Nordic countries
Central & Eastern Europe
CIS
Rest of Europe
Company Profiles
MiX Telematics
Company Overview*
Product Portfolio and Specifications*
Financial Performance*
Recent Developments/Updates*
Strategic Overview*
Octo Telematics
Trimble INC
Verizon Communications Inc.
Masternaut Limited (Michelin)
Webfleet Solutions B.V. (Bridgestone Corporation)
Teletrac Navman
Geotab Inc.
Lytx, Inc.
Aplicom
Astrata
Key Telematics
“*” marked represents similar qualitative data in other categories in the respective section.