Automotive Telematics Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Offering (Hardware Software, and Services), Connectivity (Integrated, Tethered, and Embedded), Vehicle Ty

Automotive Telematics Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Offering (Hardware Software, and Services), Connectivity (Integrated, Tethered, and Embedded), Vehicle Type (Passenger Cars and Commercial Cars), Application (Infotainment, Remote Diagnosis, Navigation (GPS), Safety and Security, and Others), and Geography

Automotive telematics market accounted for US$ 42,410.97 million in the year 2022 and is expected to grow at a CAGR of 17.8 % during the period 2022 - 2030, to account for US$ 1,57,485.12 million in the year 2030.

Increasing Installation of Telematic Devices by Automotive OEMs

Automotive OEMs such as Hyundai, Volkswagen Group, GM, Tata Motors, BMW, and Nissan are providing in-built automotive telematic solutions in their vehicles. These companies are installing embedded telematic systems as per the customer's requirements owing to the rising emergence of connected cars. According to The Insight Partners, embedded telematics systems installation by OEMs worldwide reached almost 43.8 million units worldwide in 2022 and is projected to reach 110.02 million units by 2030, growing with a CAGR of 12.2% during the forecast period 2022–2030. The growing installation of telematics systems around the globe by OEMs is driving the market growth. Embedded telematics systems are used to control several functions in the vehicle. Telematics systems can be connected to the cloud and help keep occupants safe in a car.

The demand for embedded telematics products is increasing rapidly with the growing number of telematic subscribers globally. According to The Insight Partners Analysis, the telematics subscribers that use embedded systems reached 112.0 million in 2022 and are projected to reach 216 million by 2030.

As of 2022, all new cars sold globally are equipped with some kind of telematic systems. North America has the highest adoption of advanced telematic systems, followed by Europe and Asia Pacific. Developing countries such as India, China, Japan, and South Korea emerged as the fastest-growing countries adopting telematic services. China has a significant share of telematics services adoption across the globe. Also, several key players in the automotive industry are installing embedded telematic systems to manufacture connected cars. For instance, companies such as BMW Group, GM, Mercedes-Benz, and PSA are the early adopters of embedded telematics that widely offer advanced telematic technologies features across their models in all geographies. GM also offers telematics services for its vehicle models across China, North America, and Europe.

BMW Group launched the ConnectedDrive telematic service in Western Europe and North America. Other major car brands, including Hyundai and Volkswagen, offer embedded telematics on a large scale.

Intelligent telematics gateways are the next-generation neural processing chips with AI integration that help track vehicle locations in real-time. This chip tracks and communicates with the fleet owners and offers data processing and storage solutions. Several key players in the market are developing and launching intelligent telematics gateway solutions in order to meet the growing demand for connected vehicles. The rise in AI in the transition to intelligent telematics gateways and 5G technologies is expected to create ample opportunity for the growth of the automotive telematics market. These gateways are embedded with advanced, powerful processors, such as multi-core CPUs, and can handle high volumes of data using AI.

Automotive Telematics Market: Competitive Landscape and Key Developments

Verizon Communications Inc., Geotab Inc., Omnitracs, Samsara Inc., Lytx Inc., TomTom International BV, Harman International, Denso Corp, and Valeo are among the key automotive telematics market players profiled during this study. In addition, several other important automotive telematics market players have been studied and analyzed during the study to get a holistic view of the automotive telematics market and its ecosystem.

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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the automotive telematics market.
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