Telematics Industry 2020 Analysis, Trend, Key Players and Forecast 2023
Telematics is the study of long-distance transmission of computerized information which, at present, is gaining significant traction from myriad industries. The global Telematics Industry is expected to rise with a 20% CAGR during the forecast period (2017-2023) and exceed a valuation of USD 108 billion. Market Research Future (MRFR) in their detailed analysis of the market has shown the rising demand for wireless connectivity as one of the major reasons to inspire growth in the Telematics Industry.
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Renewable sources in electric automobiles are providing thrust for the wider inclusion of telematics market in the automobile industry. Artificial intelligence is also expected to provide much assistance to the growth of the industry, and it can anticipate bolstering impact from the automation, transportation, construction, and industrial applications. However, high cost of equipment necessary for setups can trigger the market growth.
Some of the major players in Telematics Industry include Verizon Communication Inc.(U.S.), HARMAN International Industries Inc.(U.S.), Tom-Tom International BV (Netherland), AT&T (U.S.), Vodafone Group Plc. (U.K.), Ford Motor Company (U.S.), BMW Group (Germany), Telefonica SA (Spain), Mix Telematics (South Africa), and Trimble Navigation Ltd. (U.S.) among others.
Other vendors include Tantalum Corporation (U.K), InfoTrack Telematics (Japan), Agero Inc. (U.S.), NXP Semiconductors (the Netherlands), Smart Telematics Ltd, BOX telematics limited (U.K), AutoVision Wireless Inc (Canada), Ingenie (U.K), Calamp Corp. (U.S.), Vista Equity Partners (U.S.), ClickSoftware Technologies Ltd. (U.S.), ORBCOMM Inc. (U.S.) among others.
Telematics Global Market- Segmentation
MRFR’s analysis of the global Telematics Market has been founded upon technology, services, and application, and backed by data based on volumes and values.
- Based on the technology, the telematics market can be segmented into embedded, portable and hybrid. The market is witnessing a surge in the demand for hybrid products. At the same time, portable products are gaining substantial traction as they make it easy to operate.
- By services, the telematics market can be segmented into diagnostic, on-demand infotainment, navigation, and maintenance & security. The on-demand infotainment segment is providing the market with substantial revenues.
- Based on the application, the telematics market comprises commercial, automotive, IT & Telecommunication, healthcare, and government. The automotive segment, with their globally increasing sales, is creating substantial scope for the market to expand.
Telematics Global Market- Regional Analysis
The market has been covered across North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. In North America, countries such as the US and Canada have been covered. The APAC market also includes countries such as New Zealand and Australia. North America spearheads the global telematics market in terms of value. Countries such as the US and Canada are early adopters of telematics, which puts the region at a favourable position. Commercial telematics is witnessing a strong demand in the region. End use sectors, especially automotive is expected to present attractive growth opportunities during the forthcoming years. Increased sales of premium-end cars that come with advanced comfort and safety. Telematics holds significant application potential across various industrial verticals. Sector such as automotive, telecom"
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