Telematics Market Key Competitors Analysis with Recent Trends, Size, Industry Share and Regional Forecast to 2027
The global Telematics Market is growing rapidly. Market growth
attributes to the increasing demand for wireless connectivity in automobiles
and the rising implementation of renewables in electric vehicles. Besides, the
growing penetration of information and communication technology (ICT) and
telecommunication devices in various industrial sectors drive the market demand
hugely. Moreover, increasing government initiatives for on-road public safety
and security escalate market growth.
According to Market Research Future
(MRFR), the global telematics market is projected to grow at a substantial CAGR
during the review period (2017 – 2023). The emergence of digital technology has
made it possible to communicate with machines, which is expected further to
enhance the growth of the telematics system market. Also, the rising demand for
advanced surveillance & navigation systems pushes the growth of the
telematics industry.
Artificial intelligence is developing
its roots in transportation, automation, construction, and industrial
applications, further improving technology. Besides, augmenting demand for
border security and marine modernization programs boost the growth of the
market. On the other hand, the high equipment cost of the technology and
telematics devices are the major factors estimated to impede the market growth.
Nevertheless, the increased demand from the defense sector would support market
growth throughout the review period.
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Global Telematics Market -
Segmentation
The market is segmented into four
dynamics;
By Technology : Embedded, Portable, and Hybrid.
By Services : Navigation, Diagnostic, On-Demand
Infotainment, Maintenance & Security, and others.
By Application : Commercial, Automotive, IT &
Telecommunication, Healthcare, Government, and others.
By Regions
: Americas, Europe, Asia Pacific,
and Rest-of-the-World.
Global Telematics Industry -
Regional Analysis
North America dominates the
global telematics market. The largest share majorly attributes to the higher
adoption rate of the technology and high demand for premium cars with advanced
safety & comfort features. The US telematics market holds a significant
share in the region. Although the technology is in its embryonic stage,
American companies have already begun conducting experiments on the road,
partnering with telecommunication service providers.
Moreover, the increasing demand for
telematics in military & defense and high R & D investments drives the
regional market growth. Besides, considerable demand for new and advanced
marine navigation systems and growing product launches and technological
upgrades push the growth of the regional market. Additionally, the presence of
several notable players and state-of-the-art development centers in the region
foster regional market growth.
Europe stands second in the global
telematics market. The market is majorly driven by the growing application of
analytics in industries like transportation, automotive, supply chain &
logistics, retail, healthcare, and IT & telecommunication. Moreover,
increasing deployments of advanced telematics features in the end product
substantiate the regional market growth.
Growing investments in military and
commercial aviation programs, alongside the considerable investments in France,
Russia, Germany, and the UK, drive the regional market growth. Besides,
increasing government R&D funding and support and rising defense budgets
propel the regional market growth. The European telematics market is estimated
to grow at a significant CAGR throughout the analysis period.
The Asia Pacific region holds a
substantial share in the global marine navigation systems market. Factors such
as the growing marine transportation industry and increased maritime border
disputes in India, China, and South Korea drive the market growth in the
region. Moreover, increasing military budgets and spending on advancing
military equipment systems, positively impact market growth. Additionally, considerable
developments in military technologies foster market growth excellently. The
APAC telematics market is likely to grow at an impressive CAGR throughout the
assessment period.
Telematics Market - Competitive
Landscape
Highly competitive, the telematics
market looks fragmented due to the presence of several notable players. Also,
due to the availability of a range of futuristic products, the market appears
well-established. Industry players focus on strategies such as mergers &
acquisitions, collaborations, and expansion to gain a larger competitive share.
Product launch and technology upgrades trend in the market. As a result, market
players make substantial R&D investments.
Major Players:
Players leading the global telematics
market include HARMAN International Industries Inc.(US), Verizon Communication
Inc.(US), Tom-Tom International BV (Netherland), Vodafone Group Plc. (UK),
AT&T (US), Ford Motor Company (US), Telefonica SA (Spain), BMW Group
(Germany), Mix Telematics (South Africa), Trimble Navigation Ltd. (US),
InfoTrack Telematics (Japan), Tantalum Corporation (UK), Agero Inc. (US), Smart
Telematics Ltd, BOX Telematics Limited (UK), NXP Semiconductors (the
Netherlands), AutoVision Wireless Inc (Canada), Calamp Corp. (US), Ingenie
(UK), Vista Equity Partners (U.S.), ORBCOMM Inc. (US), and ClickSoftware
Technologies Ltd. (US), among others.
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Industry/ Innovation/ Related News
July 28, 2020 ---- IMS (Insurance & Mobility
Solutions) announced the three-year extension of its successful partnership
with Onlia (Canada), a provider of innovative digital home, and auto insurance
& a safe-driving mobile app. The continued collaboration between IMS and
Onlia would enable partners to fully exploit the value of telematics
technology, delivering improved road safety technology through the
prevention-first approach. Besides, the combination of class-leading
technology, rewards, and insurance cashback would deliver safer driver
behavior, helping this materialize over the next three years.
IMS is one of the world’s top three
providers of connected car data solutions to insurers, mobility operators, and
governments. IMS is part of Trak Global Group (TGG), a global provider of
related car solutions, services, and analytics. Onlia Holding Inc. offers
innovative digital insurance and mobile technology products to the Canadian
market through its wholly-owned subsidiaries Onlia Agency Inc. & Onlia
Services Inc.
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