(MENAFN- P&S Intelligence) The European government is actively implementing favorable policies to promote the incorporation of telematics technology in vehicles. For example, the European Commission has made 112-based eCall in-vehicle alarm systems mandatory in all new N1 (light-duty vehicles) and M1 (passenger cars), in the European Union (EU) member nations, since March 31, 2018. This alarm system is an in-built device that makes automatic calls to emergency services in road accident and triggers one or more airbags of the car during the accident.
Moreover, the augmenting demand for improved safety features in vehicles will propel the European automotive telematics market at a 16.1% CAGR during the forecast period (2020–2030). The market generated revenue of $7,340.3 million in 2019 and it is expected to reach $37,249.8 million by 2030. Congestion on roads and increasing number of road accidents have led to serious injuries and deaths in the region. These accidents are primarily caused due to human errors that can be reduced through the installation of different telematics devices.
Geographically, Germany accounted for the largest share in the European automotive telematics market in 2019 and it is expected to retain its dominance in the forecast period. This can be primarily ascribed to the implementation of government legislation related to vehicle safety. Additionally, growing awareness about telematics solutions and increasing innovations in technologies will supplement the market growth in the forecast period. This growth will also be supported by the rising adoption of telematics by fleet owners in the region.
With the growing focus on vehicle safety and the increasing intervention by the governments, the adoption of telematics devices will spike in the coming years in Europe.
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