North America Automotive Telematics Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s report implies that the automotive telematics market in North America is predicted to advance with a compound annual growth rate of 14.89% over the forecasting years 2023-2030. Canada and the United States are considered in the given region.
Canada’s automotive sector has witnessed significant growth over the years, with various manufacturers setting up operations nationwide. In this regard, Ford, General Motors, Toyota, and Honda have established assembly lines. This rise in the automotive sector has opened new avenues for telematics solutions. For instance, Aviva Canada launched a new telematics-powered auto insurance application. This application is easily accessed using a smartphone, which has gained consumer attraction to a large extent. Hence, such developments are fueling the automotive telematics market in the country.
Further, in the United States, the automotive sector’s growth has prompted various OEMs to differentiate offerings by integrating telematics solutions. Connected cars, in this regard, have emerged as a vital innovation that includes sensors to provide real time data about vehicle speed, location, etc. These advancements in automobiles are anticipated to create more opportunities for the automotive telematics market over the forecast period.
COMPETITIVE OUTLOOK
The key companies in the automotive telematics market include Geotab Inc, Airbiquity Inc, Mix Telematics, Samsara Inc, TomTom NV, Robert Bosch GmbH, and AT&T Inc.
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