Dublin, April 12, 2023 (GLOBE NEWSWIRE) -- The "Automotive Telematics Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global automotive telematics market grew from $100.06 billion in 2022 to $132.87 billion in 2023 at a compound annual growth rate (CAGR) of 32.8%.
The automotive telematics market is expected to grow to $360.56 billion in 2027 at a CAGR of 28.3%.
An increase in car accidents is contributing to the growth of the automotive telematics market going forward. Car accidents, also referred to as car collisions or accidents with a car that involve a collision with another vehicle or stationary objects, Automobile telematics reduces accidents by providing real-time feedback to drivers. Major car manufacturers are now installing automotive telematics to keep vehicles and drivers safe.
For instance, according to Vox, a US-based news website and media company, in 2021, car accidents will have resulted in the fatalities of 1.3 million people worldwide. Furthermore, car accidents also caused the deaths of 7,485 pedestrians in the US in 2021 . Therefore, the increase in car accidents is driving the growth of the automotive telematics market.
New product innovations are the key trend gaining popularity in the automotive telematics market. Major companies operating in the automotive telematics sector are focused on introducing new innovations to sustain their position in the market. For instance, in June 2021, Masternaut, a UK-based telematics company specializing in fleet and asset management, launched the MoveElectric transition tool that helps in identifying which journeys could be carried out by an EV (Electric Vehicle) instead of an ICE (Internal Combustion Engine) vehicle based on parameters that reflect business needs and working patterns. It uses comprehensive real-world data that allows fleet managers to measure and demonstrate the wider benefits of the move to EVs, including efficiency, CO2 reduction, and cost savings.
In May 2022, Otonomo Technologies, an Israel-based car data exchange platform acquired The Floww for $69 million. The acquisition would integrate The Floww's vehicle telematics tolls with Otonomo's mobility intelligence platform. The Floww is a UK-based vehicle telematics company.
North America was the largest region in the automotive telematics market in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Scope
Markets Covered:
1) By Vehicle Type: Commercial Cars; Passenger Vehicles; Two-Wheelers
2) By Connectivity Solutions Type: Embedded; Integrated Smatphones; Tethered
3) By Sales Channel Type: Original Equipment Manufacturer (OEM); Aftermarket
4) By Application: Fleet or Asset Management; Navigation And Location-Based System; Infotainment System; Insurance Telematic; Safety And Security; Other Applications
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $132.87 billion |
| Forecasted Market Value (USD) by 2027 | $360.56 billion |
| Compound Annual Growth Rate | 28.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Automotive Telematics Market Characteristics
3. Automotive Telematics Market Trends And Strategies
4. Automotive Telematics Market - Macro Economic Scenario
5. Automotive Telematics Market Size And Growth
6. Automotive Telematics Market Segmentation
7. Automotive Telematics Market Regional And Country Analysis
8. Asia-Pacific Automotive Telematics Market
9. China Automotive Telematics Market
10. India Automotive Telematics Market
11. Japan Automotive Telematics Market
12. Australia Automotive Telematics Market
13. Indonesia Automotive Telematics Market
14. South Korea Automotive Telematics Market
15. Western Europe Automotive Telematics Market
16. UK Automotive Telematics Market
17. Germany Automotive Telematics Market
18. France Automotive Telematics Market
19. Eastern Europe Automotive Telematics Market
20. Russia Automotive Telematics Market
21. North America Automotive Telematics Market
22. USA Automotive Telematics Market
23. South America Automotive Telematics Market
24. Brazil Automotive Telematics Market
25. Middle East Automotive Telematics Market
26. Africa Automotive Telematics Market
27. Automotive Telematics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Telematics Market
29. Automotive Telematics Market Future Outlook and Potential Analysis
30. Appendix
A selection of companies mentioned in this report includes
- TomTom Telematics B.V
- Trimble Inc.
- Omnitracs
- I.D.Systems Inc.
- Verizon
- Airbiquity Inc.
- Harman International Industries
- MiX Telematics
- Teletrac Navman
- Cartrack
- SmartDrive Systems
- AirIQ Inc.
- Actsoft
- Idem Telematics GmbH
- Microlise Limited
For more information about this report visit https://www.researchandmarkets.com/r/wuq1oj
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