Newark, July 29, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 15.4 billion automotive embedded telematics market will reach USD 79.2 billion by 2033. The technology available in the automotive-embedded telematics industry combines informatics and telecommunication to improve the connectivity and usefulness of automobiles. Telematics control units—electronic devices installed in automobiles—are used to collect and send real-time data. This data contains the vehicle's location, performance, and driving behaviour information. Features like GPS navigation, car tracking, remote diagnostics, and connectivity with other smart devices are made possible by embedded telematics systems. In addition to enhancing driver comfort and safety, this technology makes cutting-edge services like effective fleet management and usage-based insurance possible. By facilitating intelligent connection between automobiles and outside networks, car-embedded telematics improves the driving experience overall.
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The market for automotive-embedded telematics is largely driven by consumers' increasing preference for connected automobiles. Embedded telematics solutions are becoming increasingly popular because of features like in-car entertainment systems, remote diagnostics, and real-time navigation. A key factor in the market expansion of ADAS is the use of telematics. Telematics data is necessary to efficiently apply advanced safety features, like lane departure warnings and collision avoidance.
Key Insight of the Global Automotive Embedded Telematics Market
Europe to account for the largest market size during the forecast period.
Europe has strong telecommunications networks and sophisticated infrastructure, facilitating the creation and application of embedded telematics systems. Due to its well-established mobile networks, high internet usage rates, and supportive legislative frameworks, the region offers smooth connectivity and data interchange between vehicles and external platforms or services. Moreover, strict government policies and programmes promoting environmental sustainability and road safety drive embedded telematics adoption in Europe. For example, in May 2021, a rule requiring new cars to have eCall technology for driver assistance was put into effect by the European Road Safety Action Programme (ERSAP). This rule represents a major advancement in Europe's endeavours to improve emergency response times and road safety.
The safety & security segment dominated the market with the most significant revenue of USD 5.23 billion.
The safety & security segment dominated the market, with the most significant revenue of USD 5.23 billion. Automotive-embedded telematics makes it possible to monitor and analyse vehicle data in real-time, facilitating preventive safety measures, including emergency assistance, lane departure warnings, and accident detection. Consumers find automobiles with incorporated telematics systems more enticing because of these characteristics, which improve driver and passenger safety.
The services segment dominated the market with the most significant revenue of USD 6.31 billion.
The services segment dominated the market, with the most significant revenue of USD 6.31 billion. Since these devices provide real-time traffic updates and essential information for a better driving experience, demand for navigation services is expected to increase during the forecast period.
The passenger cars segment dominated the market with the most significant revenue of USD 8.77 billion.
The passenger cars segment dominated the market, with the most significant revenue of USD 8.77 billion. The implementation of integrated telematics in passenger automobiles is driven by the growing trend of connected cars and the emergence of smart cities. Automotive embedded telematics system allows vehicles to connect to other networks, which helps in features like GPS navigation, remote diagnostics, and in-car entertainment.
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Market Dynamics:
Drivers: Increasing vehicle connectivity
The growing demand for linked cars is related to the increasing demand for car-integrated telematics. The increasing desire for better features and services in cars increases the demand for embedded telematics systems. These connected cars make real-time connections between the automobile and external networks possible, opening the door for sophisticated features like GPS navigation, remote diagnostics, and in-car entertainment. This is expected to drive the market’s growth during the forecast period.
Restraint: Concerns regarding data privacy and security
The rising concern about data privacy and security is expected to hinder the market’s growth over the forecast period. The concern of users regarding possible exploitation of their private and secure information such as address and other personal information and unauthorized access to them, impacts the market growth.
Some of the major players operating in the automotive embedded telematics market are:
● Geotab
● AT&T
● MiX Telematics
● Teletrac Navman
● Continental AG
● Telit
● Sierra Wireless
● Verizon Connect
● TomTom Telematics
● Bosch Connected Devices and Solutions
● CalAmp
● Vodafone Automotive
● Airbiquity
● WirelessCar
Key Segments cover in the market:
By Solution:
● Information & Navigation
● Remote Diagnostics
● Safety & Security
● Entertainment
By Component:
● Connectivity
● Services
● Hardware
By Application:
● Commercial Vehicles
● Passenger Cars
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About the report:
The global automotive embedded telematics market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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