(MENAFN- iCrowdNewsWire) Jul 30, 2020
Summary
Global Telematics in Automotive Market, by application (Vehicle Tracking, Fleet Management, Satellite Navigation), systems (Driving Assistance systems, Telematics Control Unit, GPS,), Type, vehicle type, distribution channel, region - Forecast till 2023
Market Overview
Telematics primarily is the technology made use of in fleet tracking for handling a vehicle. Greater usage of telematics in automobiles makes its market prospect highly significant. Significant growth of the global telematics market is primarily fuelled by the greater awareness among public for the wellbeing of usage of telematics in vehicles and the growth in rate of road accidents. Greater administrational and governmental aid has encouraged the market scenario quite significantly. The noteworthy boost in wireless communication system can be touted as another prime factor behind this market growth.
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Awareness around pollution and other environmental factor is a secret to none. It is quite evident that government bodies are enriching the emission standard for encouraging the manufacture of pollution-free vehicles. Superior promotion of green vehicles is speculated to play a great role in lowering greenhouse gas levels. In addition, there is significant demand for safety aspects intended towards lowering the causalities. All these factors combining is expected to enhance the market during the forecasted period.
Traffic issue in modern times is a secret to none. Along with pollution, traffic issue has certainly appeared as a challenging aspect from a control perspective. This derives a dimension of useful vehicular transportation, unwanted transportation, and safety threats. Telematics appearing as a potential solution for these issues witnesses a remarkable prospect. It is expected that the international telematics can expand at a noteworthy growth rate of 20% CAGR in between the forecasted period. In short, there is a significant market prospect for telematics in automotive marketing in forthcoming years.
Top Players
The top vendors enlisted in the MRFR report include AT & T Inc. (the U.S.), TomTom International B.V. (Netherlands), Telogis (the U.S.), Visteon Corporation (the U.S.), Trimble, Inc. (the U.S.), Masternaut Limited (France), Verizon Communications, Inc. (the U.S.), Harman International Industries, Inc. (the U.S.), Continental AG (Germany), Trimble Inc. (the U.S.), Robert Bosch GmbH (Germany), Delphi Automotive PLC (the U.K.), Airbiquity, Inc. (the U.S.), and others.
Segmentation
Global telematics in automotive market domain can be segmented in terms of product type, in terms of application, in terms of systems, in terms of region, in terms of vehicle type, and in terms of distribution channel. On the basis of product type, the market is further segmented into embedded, integrated, and tethered. On the basis of application, the market is segmented into vehicle tracking, fleet management, satellite navigation, vehicle safety communication, and others. It is divided into a driving assistance system, telematics control unit, global positioning system, vehicle tracking system, vehicular emergency warning system, and others. In terms of vehicle type, it is segmented into passenger car, LCV, HCV.
Regional analysis
On the basis of region, the global telematics market in automotive sector is divided into North America, Europe, Asia Pacific, and rest of the world. The US and Canada are the top players in the market in North America. UK, Germany, and Spain are the leading European nations in this market segment, having an incredible market prospect. The Asia Pacific is speculated to be one of the major market sectors in the world of telematics. India and China are certainly the frontrunners in this market segment. The Middle East and Africa also show a great scope of market in upcoming future.
Industry News
3rd Watch News publishes a report about the growth prospects of international market of telematics in automotive sector. The report identifies the key factors contributing the most towards the establishment of the market in global sector. It also figures out the domains where this market is expected to be the most prominent.
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