Motor Racing Telematics (MRT)

Global Motor Racing Telematics (MRT) Market to Reach US$823.3 Million by 2030

The global market for Motor Racing Telematics (MRT) estimated at US$459.2 Million in the year 2023, is expected to reach US$823.3 Million by 2030, growing at a CAGR of 8.7% over the analysis period 2023-2030. M2M Application, one of the segments analyzed in the report, is expected to record a 9.2% CAGR and reach US$500.4 Million by the end of the analysis period. Growth in the IoT Application segment is estimated at 8.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$134.4 Million While China is Forecast to Grow at 8.3% CAGR

The Motor Racing Telematics (MRT) market in the U.S. is estimated at US$134.4 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$145.1 Million by the year 2030 trailing a CAGR of 8.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 8.0% and 7.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.9% CAGR.

Global Motor Racing Telematics (MRT) Market - Key Trends & Drivers Summarized

What Is Motor Racing Telematics (MRT) and How Does It Revolutionize Racing?

Motor Racing Telematics (MRT) combines telecommunications and informatics to enhance both the performance and safety of racing vehicles and their drivers. This technology involves the long-distance transmission of real-time data not only from the vehicle to the pit but also to remote analytics teams. Key data points include vehicle speed, tire pressure, fuel consumption, and engine performance. This information allows racing teams to make split-second decisions based on comprehensive data-driven insights, potentially altering race strategies and outcomes. MRT systems integrate GPS technology, onboard sensors, and telemetry software, creating a feedback loop between the vehicle and the pit, enabling optimizations that can define race-day performances.

How Are Technological Advancements Enhancing MRT Systems?

Technological advancements are continually pushing the boundaries of what Motor Racing Telematics can achieve. Enhanced sensor accuracy and the evolution of IoT technology have greatly increased the volume and quality of data collected from racing vehicles. These improvements allow for more precise monitoring of critical vehicle parameters, contributing to better race strategy formulation and execution. Furthermore, advancements in data transmission technologies, such as 5G, enable faster and more reliable data flow between vehicles and pits, essentially allowing real-time strategic adjustments. Moreover, developments in artificial intelligence and machine learning are being leveraged to predict vehicle behavior and optimize performance parameters, adding a layer of predictive analytics to racing strategies.

What Role Does MRT Play in Promoting Safety and Efficiency in Motor Racing?

Motor Racing Telematics is pivotal in enhancing both the safety and efficiency of motor racing operations. By providing real-time data on vehicle health and performance, MRT systems help teams prevent potential failures that could lead to accidents on the track. For instance, tire pressure monitoring can alert teams to potential blowout risks, while engine telemetry can warn of critical malfunctions before they lead to catastrophic engine failures. Additionally, MRT contributes to operational efficiency by optimizing fuel management and pit stop strategies, ensuring that vehicles run at peak efficiency for the duration of the race. This strategic advantage is crucial not only for winning races but also for adhering to increasingly stringent regulations around fuel usage and emissions in the sport.

What Drives the Growth in the Motor Racing Telematics Market?

The growth in the motor racing telematics market is driven by several factors. The continuous quest for competitive advantage in motor racing necessitates the adoption of advanced technologies like MRT. Teams seek every possible edge over their competitors, and telematics provides critical performance and strategy insights that can make the difference. Additionally, the increasing focus on safety standards in racing leagues globally drives the adoption of sophisticated monitoring systems capable of preventing accidents and ensuring compliance with safety regulations. Furthermore, the fan engagement aspect, where telematics data is used to enhance viewer understanding and experience of the race dynamics, also contributes to the growth of this market. Finally, the broader automotive industry`s push towards connected and autonomous vehicles provides technology transfer opportunities that benefit motor racing telematics development. These factors together ensure robust growth prospects for MRT, marking it as a key area of investment within the motor sports sector.

Select Competitors (Total 13 Featured) -
  • Agero, Inc.
  • Airbiquity, Inc.
  • AT&T, Inc.
  • Bynx Ltd.
  • Comtech TeleCommunication Systems, Inc.
  • Connexis LLC
  • Continental AG
  • Ericsson AB
  • Fleetmatics Group PLC
  • Luxoft Holding, Inc.
  • Magneti Marelli SpA
  • Octo Telematics Ltd.
  • PTC, Inc.
  • Robert Bosch GmbH
  • Telogis, Inc.
  • TomTom International BV
  • Valeo SA
  • Verizon Telematics
  • Visteon Corporation
  • Vodafone Automotive SpA
  • WirelessCar
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Global Economic Update
Motor Racing Telematics (MRT) – Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Surge in Professional Racing Events Drives Demand for Advanced Telematics Solutions
Growing Focus on Driver Safety and Performance Enhances MRT System Integrations
Innovations in Real-Time Data Transmission Propel MRT Adoption in Motor Racing
Enhanced Analytics and Predictive Insights from MRT Systems Boost Competitive Strategies
Expansion of Racing Telematics in Off-Road and Rally Competitions Creates New Market Opportunities
Increasing Sponsorship and Viewer Engagement Spurs Innovations in Racing Telematics
Development of Wearable Telematics for Enhanced Driver Monitoring and Health Tracking
Integration of IoT and Connectivity Solutions Expands Functionality of MRT Systems
Stricter Safety Regulations in Motorsports Strengthen the Business Case for MRT
Advancements in GPS and Sensor Technologies Drive MRT System Accuracy and Reliability
Rising Popularity of Electric and Hybrid Race Cars Influences MRT System Requirements
4. GLOBAL MARKET PERSPECTIVE
TABLE 1: World Motor Racing Telematics (MRT) Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
TABLE 2: World Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 3: World 7-Year Perspective for Motor Racing Telematics (MRT) by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
TABLE 4: World Recent Past, Current & Future Analysis for M2M Application by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 5: World 7-Year Perspective for M2M Application by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 6: World Recent Past, Current & Future Analysis for IoT Application by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 7: World 7-Year Perspective for IoT Application by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
Motor Racing Telematics (MRT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
TABLE 8: USA Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 9: USA 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
CANADA
TABLE 10: Canada Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 11: Canada 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
JAPAN
Motor Racing Telematics (MRT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
TABLE 12: Japan Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 13: Japan 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
CHINA
Motor Racing Telematics (MRT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
TABLE 14: China Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 15: China 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
EUROPE
Motor Racing Telematics (MRT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
TABLE 16: Europe Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 17: Europe 7-Year Perspective for Motor Racing Telematics (MRT) by Geographic Region - Percentage Breakdown of Value Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
TABLE 18: Europe Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 19: Europe 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
FRANCE
Motor Racing Telematics (MRT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
TABLE 20: France Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 21: France 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
GERMANY
Motor Racing Telematics (MRT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
TABLE 22: Germany Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 23: Germany 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
ITALY
TABLE 24: Italy Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 25: Italy 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
UNITED KINGDOM
Motor Racing Telematics (MRT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
TABLE 26: UK Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 27: UK 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
REST OF EUROPE
TABLE 28: Rest of Europe Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 29: Rest of Europe 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
ASIA-PACIFIC
Motor Racing Telematics (MRT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
TABLE 30: Asia-Pacific Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 31: Asia-Pacific 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
REST OF WORLD
TABLE 32: Rest of World Recent Past, Current & Future Analysis for Motor Racing Telematics (MRT) by Application - M2M Application and IoT Application - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 33: Rest of World 7-Year Perspective for Motor Racing Telematics (MRT) by Application - Percentage Breakdown of Value Revenues for M2M Application and IoT Application for the Years 2024 & 2030
IV. COMPETITION

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