Telematics is used for monitoring a vehicle using a hardware device that gets installed in the car. Telematics solutions are widely used by fleet owners to improve the efficiency of their business by planning routes and eliminating risky driver habits. The growing popularity of usage-based insurance is one of the primary factors driving the growth of telematics solutions market. The telematics solution market is highly fragmented with the presence of a large number of players present in the market, resulting in a high degree of competition.
MARKET DYNAMICS
Growing focus of the fleet owners towards improving the efficiency, government regulations regarding vehicle telematics, and ease of vehicle diagnosis are some of the significant factors driving the growth of the telematics solutions market. However, privacy concerns and high installation costs might limit the growth of the telematics solutions market. APAC is expected to grow at a high CAGR owing to the government regulations regarding the vehicle telematics and growing safety.
MARKET SCOPE
The "Global Telematics solutions Market Analysis to 2028" is a specialized and in-depth study of the telematics solutions market with a special focus on the global market trend analysis. The report aims to provide an overview of telematics solutions market with detailed market segmentation by component, service, vehicle type, and geography. The global telematics solutions market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading telematics solutions market players and offers key trends and opportunities in the telematics solutions market.
MARKET SEGMENTATION
The global telematics solutions market is segmented on the basis of component, service, and vehicle type. Based on component, the market is segmented as telematics control unit (TCU), Navigation system, communication devices, audio/video interface, can BUS. On the basis of service, the market is segmented as automatic crash notification, emergency calling, navigation and infotainment, on-road assistance, remote diagnostics, vehicle tracking/recovery (fleet management), insurance risk assessment, driver behavior, and others. Based on vehicle type, the market is segmented as passenger cars, LCV, M&HCV.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global telematics solutions market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The telematics solutions market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting telematics solutions market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the telematics solutions market in these regions.
MARKET PLAYERS
The reports cover key developments in the telematics solutions market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from telematics solutions market are anticipated to lucrative growth opportunities in the future with the rising demand for telematics solutions market. Below mentioned is the list of few companies engaged in the telematics solutions market.
The report also includes the profiles of key telematics solutions market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- CONTINENTAL AG
- Delphi Auto Parts
- Intel Corporation
- MiX Telematics
- Octo Group S.p.A
- Qualcomm Technologies, Inc.
- ROBERT BOSCH GMBH
- TomTom International BV.
- VERIZON
- Visteon Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.