Automotive Embedded Telematics Market Size, Share, Forecast
New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- A new research report on the “Automotive Embedded Telematics Market” titled has recently published by Reports Insights, the market was worth USD 4.8 Billion in 2022 and is anticipated to reach over USD 21.5 Billion by the year 2030, growing at a CAGR of 20.6%. fueled by increased consumer demand for IoT-enabled vehicles in terms of vehicle performance maintenance and road safety.
Automotive Embedded Telematics Market Size, Share & Trends Analysis, By Component (Hardware and Software), Service (Information & Navigation, Safety & Security, Remote Diagnostics, and Entertainment), Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), By Region and Segment, Forecast Period 2022 – 2030.
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Automotive embedded telematics is referred to the integration of information technologies and telecommunication into vehicles for various purposes such as navigation, safety, infotainment, and remote diagnostics. Such embedded telematics systems are integrated into the vehicle's hardware and software, which use cellular communication to transmit and receive data. Telematics provides real-time communication between the vehicle and a remote server for control of the vehicle and remote monitoring. Thus, automotive embedded telematics are used in applications such as GPS-based navigation systems, advanced driver-assistance systems (ADAS), recovery systems of a stolen vehicles, remote diagnostics, entertainment systems, and predictive maintenance.
Further, the growing demand for such embedded telematics among consumers supports the market growth in terms of access to real-time information about the vehicle's condition to make informed decisions for safety improvements and reduced need for physical service visits. Also, the rising demand for telematics systems, especially by Original Equipment Manufacturers (OEMs) for access to valuable data about customer usage and behavior supports the market growth in terms of the scope of product customizations of OEMs’ services to meet consumer needs.
Moreover, the large-scale integration of telematics systems into vehicles is expected to witness significant growth, especially in various new variants of automobiles. The factor attributed to such increased integration is continuous technological advancements in automotive embedded telematics in terms of Artificial Intelligence (AI) integration and 5G connectivity. Thus, the market trend is anticipated to witness growth due to the ability of OEMs to offer telematics systems with added latest features and improved performance of connected vehicle systems.
Automotive Embedded Telematics Market Scope:-
|Report Attributes||Report Details|
|Market Size By 2030||USD 21.5 Billion|
|Key Players||Continental AG, TomTom Telematics BV, MiX Telematics International Ltd., BMW Group, Ford Motor Company, Verizon Connect, Teletrac Navman Group, Omnitracs, Fleetmatics, Masternaut Limited, Robert Bosch GmbH, Marelli, Navtelecom, Geotab|
|By Component||Hardware and Software|
|By Service||Information & Navigation, Safety & Security, Remote Diagnostics, and Entertainment|
|By Vehicle Type||Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Geography||North America [United States, Canada, Mexico]|
Asia-Pacific [China, Southeast Asia, Japan, India, Korea, Western Asia]
South America [Brazil, Argentina, Columbia, Chile, Peru]
Europe [Germany, UK, Spain, Turkey, France, Italy, Russia, Netherlands, Switzerland]
Middle East & Africa [GCC, North Africa, South Africa]
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Key Market Highlights
- The global automotive embedded telematics market size is estimated to exceed USD 21.5 billion by 2030 and grow at a CAGR of 20.6% during the forecast period (2022-2030).
- Globally, automotive embedded telematics are divided based on the component into hardware and software.
- In the context of service, the market is separated into information & navigation, safety & security, remote diagnostics, and entertainment.
- On the basis of vehicle type, the market is categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles.
- The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and the Middle East and Africa.
- Europe and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in automotive embedded telematics.
Automotive Embedded Telematics Market Segmentation Details:
Based on component, the hardware segment contributed the largest shares to the market growth in 2021. The increased demand for embedded telematics hardware such as GPS devices, telematics sensors, mobile data terminals (MDTs), onboard diagnostics (OBD) devices, and others supports the segment growth in terms of access to real-time vehicle performance and maintenance information. Thus, the rising expenditures and demand for remote vehicle monitoring, route optimization, and predictive maintenance fuel the demand for such automotive embedded telematics hardware.
Based on service, the information & navigation and entertainment segments are anticipated to offer substantial shares to the automotive embedded telematics market growth during the forecast period. In the context of information & navigation, such embedded telematics systems provide drivers with live traffic information to avoid congestion and reduce overall travel time. Also, telematics monitors various aspects of vehicle performance through information about maintenance requirements and potential issues. Furthermore, in the context of entertainment, telematics systems are integrated with infotainment systems in terms of overall access to music, videos, and other multimedia content for an improved driving experience. Thus, such aspects boost the demand for automotive embedded telematics in mentioned services, specifically due to the shift in consumer preferences.
Based on vehicle type, the passenger car segment contributed the largest shares to the market growth in 2021. The increased consumer demand for real-time information in terms of the location, speed, and condition of vehicles supports segment growth, which helps improve safety and reduce the risk of accidents. Further, the growing demand for embedded telematics systems for providing drivers with a personalized experience in terms of adaptation of their preferences and habits supports segment growth. The factors attributed to such increased adoption is due to offered features of telematics for adjustments in climate control, recommendation of nearby services, and halt alerts in case of driver lethargy.
Based on region, Europe accounted for the largest share contribution to the market growth in 2021. The growing adoption of technologically advanced vehicles among the population due to rising awareness of vehicle maintenance and safety supports the growth of market statistics in this region. Moreover, the strict impositions of government rules and regulations in terms of road and driver safety also fuel the market demand in terms of features such as automated lane assistance, real-time vehicle diagnostics, and others.
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- In 2020, Ford introduced Ford Telematics, a web-based platform for fleet management and optimization for commercial vehicle customers.
- In 2020, GM partnered with Motorq software to offer real-time vehicle visibility for fleet managers through GM’s OnStar system.
- In 2021, Qualcomm and GM announced a collaboration to offer advanced technologies for future vehicles. The partners initiated a such collaboration to build on their long history of working together on multiple cellular generations.
- In 2022, Hyundai Motor Group chose TomTom's maps and real-time traffic data to upgrade their European lineup.
- In 2022, BMW teamed up with AirConsole to bring casual gaming to BMW vehicles through the BMW Curved Display which is expected to be controlled with smartphones via AirConsole's platform.
List of Major Automotive Embedded Telematics Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Continental AG
- TomTom Telematics BV
- MiX Telematics International Ltd.
- BMW Group
- Verizon Connect
- Teletrac Navman Group
- Ford Motor Company
- Masternaut Limited
- Robert Bosch GmbH
Global Automotive Embedded Telematics Market Segmentation:
- By Component
- By Service
- Information & Navigation
- Safety & Security
- Remote Diagnostics
- By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
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