Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Passenger Car Telematics: Global Market for Services and Solutions" report has been added to ResearchAndMarkets.com's offering.
The market for passenger car telematics is continuously growing due to growing demand for in-car connectivity in private cars and rental cars - for driver monitoring features in cars. Telematics users prefer to pay for services on a subscription model according to desired telematics features/packages.
Due to the growing telematics market, core software companies are investing in this business in order to gain profit margin. Furthermore, automotive car manufacturers and hardware manufacturers are working collaboratively as car technologies are changing rapidly. There is also a wide variety of end users interested in the car-related data collected through telematics, such as insurance and risk assessment companies.
Consumers have two ways to access telematics services - telematics with the new cars or through the aftermarket. According to telematic experts, OEM telematics systems are highly reliable, low cost (usually included in the car's price), and subscription services are typically free for one year after purchase of the car. However, commercial car fleet managers often look to the aftermarket for appropriate telematics systems as the aftermarket option gives them freedom to track any type of car through one software.
Car rental companies such as Uber are preferring to use fingerprint technologies for cab drivers to save the driver's performance-related information in software. Based on driver behavior, driving style, etc., such companies can promote talented drivers based on their company policies.
OEM companies offer two connectivity options in their cars - embedded and integrated. The embedded option is highly compatible with in-car technology. For example, integrated connectivity allows drivers to connect their smartphones with the car's infotainment system. From the aftermarket, car fleet managers can also use a tethered option for telematics services, but it is not compatible with vehicles for advanced telematics features. However, developing countries such as India, China, etc. are still using telematic connectivity as it is very low in cost compared to integrated and embedded connectivity.
In the coming years, the telematics companies engaged in software and services expect higher revenue growth than the hardware manufacturers. At the same time, the hardware side will continue to grow due to increased software-driven technologies that require highly advanced hardware, such as AIpowered dashboard cameras. Rental car fleet managers are using telematics services to reduce their insurance premiums. These managers share car-sharing-related data with car insurance companies, and based on their analysis of car risk assessment, insurance companies may reduce premiums.
Report Includes
- A detailed review and up-to-date assessment of the global market for passenger car telematics services and solutions
- Analyses of the global market trends, with market revenue data for 2021, estimates for 2022 and 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the market potential for passenger car telematics, industry growth drivers, and areas of focus to forecast this market into various segments and subsegments
- Estimation of the actual market size for passenger car telematics in USD million values, revenue forecast, and corresponding market share analysis by product type, connectivity, application, sales channel, and geographic region
- In-depth information (facts and figures) concerning market drivers, market deterrents and other macroeconomic forces affecting the current and future market outlook
- Discussion of the industry value chain analysis providing a systematic study of key intermediaries involved, with emphasis on manufacturers, suppliers, and solutions providers of passenger car telematics
- Updated information on recent mergers, acquisitions, partnerships, agreements, collaborations, joint ventures, and market expansions in the passenger car telematics industry
- A relevant patent analysis with significant allotments of patents on passenger car telematics technology
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Descriptive company profiles of the leading global players, including Continental AG, LG Electronics, Powerfleet Inc., Tata motors, and Verizon Connect
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $53.9 Billion |
| Forecasted Market Value (USD) by 2027 | $99.3 Billion |
| Compound Annual Growth Rate | 13.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
3.1 Current Market Overview
3.2 History and Evolution of Passenger Car Telematics
3.3 Applications
3.3.1 Ridesharing
3.3.2 Car Tracking
3.3.3 Emergency Warning Systems for Cars
3.3.4 Car Maintenance and Remote Diagnostics
3.3.5 Risk Assessment by Insurance Companies
3.3.6 Weather Conditions Monitoring
3.3.7 Geofencing
3.3.8 Satellite Navigation
3.4 Benefits
3.4.1 Increased Efficiency
3.4.2 Improved Safety
3.4.3 Minimized Operating Cost
3.4.4 Superior Driver Ux/Entertainment
3.4.5 Enhanced Security
3.5 Challenges
3.5.1 Power Dependency
3.5.2 Privacy Concerns
3.5.3 Jamming
3.5.4 System Installation Takes Time
3.5.5 Cost
3.6 Types of Telematic Systems
3.6.1 Obd Ii Telematics Systems
3.6.2 Bluetooth-Powered Telematics Systems
3.6.3 Smartphone-Based Telematics Systems
3.6.4 Black Box Telematics Systems
3.6.5 Oem Hard-Wired Telematics Systems
3.6.6 12V Plug-In Self-Installation Telematics Systems
3.7 Telematics Sales Channel
3.7.1 Oems (Original Equipment Manufacturers)
3.7.2 Aftermarket
3.8 Telematics Hardware
3.9 Telematics Software and Services
3.10 Value Chain Analysis
3.10.1 Content Creation
3.10.2 Application Development
3.10.3 Content Aggregation
3.10.4 Network Transport
3.10.5 Telematics Hardware
3.10.6 Access Interface
3.11 Porter's Five Forces Model
Chapter 4 Global Market Dynamics
Chapter 5 Market Breakdown by Region
Chapter 6 Market Breakdown by Product Type
Chapter 7 Market Breakdown by Type of Connectivity
Chapter 8 Market Breakdown by Application
Chapter 9 Market Breakdown by Sales Channel
Chapter 10 Patent Analysis
Chapter 11 Competitive Landscape
Chapter 12 Company Profiles
Chapter 13 Appendix: Acronyms
Companies Mentioned
- Cartrack
- Continental AG
- Fleet Complete
- Geotab Inc.
- Insurance & Mobility Solutions
- Lg Electronics
- Masternaut Ltd.
- Microlise Ltd.
- Mix Telematics
- Octo Group S.P.A.
- Omnimatics Sdn. Bhd
- Powerfleet Inc.
- Samsara Inc.
- Tata Motors
- Teletrac Navman U.S. Ltd.
- Verizon Connect
- Visteon Corp.
- Zonar Systems
For more information about this report visit https://www.researchandmarkets.com/r/yqwgm8-car?w=12-car?w=12
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