Asia-pacific Automotive Telematics Market 2023-2030
MARKET OUTLOOK
Triton’s research report on the Asia-Pacific automotive telematics market insinuates that the market is projected to propel with a CAGR of 17.11% during the forecast period 2023-2030. India, Australia & New Zealand, China, Japan, South Korea, ASEAN countries, and Rest of Asia-Pacific are reviewed in the region.
The Japanese government released an outline of system-building measures for the real-world application of automated driving. The adoption of the Road Traffic Act and Road Vehicles Act has made it mandatory for automated driving systems and devices to comply with safety standards. In recent years, the sale of automobiles has soared across the country, which has opened new avenues for the automotive telematics market.
In South Korea, the market’s growth is driven by factors such as rising consumer demand for connected vehicles and government support for smart transportation systems. Several automakers, such as Hyundai and Kia, are heavily investing in the research and development of advanced telematics systems. As per estimates, the country is the seventh largest in terms of vehicle sales and fifth largest in passenger car production. Therefore, all these factors are anticipated to create affluent opportunities for the automotive telematics market.
COMPETITIVE OUTLOOK
The major firms in the automotive telematics market include TomTom NV, Continental AG, Robert Bosch GmbH, AT&T, and Harman International.
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