(MENAFN- GlobeNewsWire - Nasdaq) Electric Vehicle Boom Spurs Telematics Demand for Battery Monitoring and Predictive MaintenanceDublin, Jan. 13, 2025 (GLOBE NEWSWIRE) -- The "Automotive Telematics market Forecast 2024-2032" report has been added to ResearchAndMarkets.com's offering. The market is analyzed by hardware, service, technology, vehicle type, sales channel, and region.
According to this report, the global automotive telematics market size reached a value of USD 76.63 billion in 2023. Aided by the rising demand for connected vehicles and the increasing integration of telematics systems in various applications, the market is projected to further grow at a CAGR of 14.9% between 2024 and 2032 to reach a value of USD 277.17 billion by 2032.
The rising consumer demand for connected vehicles is driving the global automotive telematics market growth. As consumers seek advanced features such as in-car internet, smartphone integration, real-time navigation, and advanced driver assistance systems (ADAS), automakers are incorporating telematics systems to meet these needs. The proliferation of IoT (Internet of Things) and the development of 5G technology are further enabling the expansion of telematics applications in the automotive industry.
Additionally, the increasing use of telematics in fleet management is a key factor driving the automotive telematics market expansion. Fleet operators across industries such as logistics, transportation, and construction are leveraging telematics to monitor their vehicles in real time, optimise routes, reduce fuel consumption, and enhance driver safety. The demand for telematics in fleet management is also being fuelled by the growing focus on regulatory compliance and the need to adhere to government regulations regarding vehicle safety and environmental standards.
Moreover, the adoption of automotive telematics is being driven by the growing focus on road safety and accident prevention. This is one of the key automotive telematics market trends. Telematics systems play a crucial role in providing real-time data on driving behaviour, vehicle conditions, and road environments, which helps in preventing accidents and reducing the risk of injuries. The implementation of eCall systems, which automatically notify emergency services in the event of an accident, is also boosting the demand for telematics in the automotive sector.
The expanding applications of telematics in electric vehicles (EVs) are also expected to contribute to the market's growth. As the adoption of EVs continues to rise globally, telematics systems are being used to monitor battery performance, provide real-time data on charging stations, and offer predictive maintenance solutions to improve the overall efficiency of EVs. This is expected to boost the automotive telematics market value.
In addition, the integration of telematics with artificial intelligence (AI) and big data analytics is revolutionising the automotive industry. These technologies enable advanced data processing and analysis, providing insights into vehicle performance, driver behaviour, and maintenance needs. AI-powered telematics solutions are also being used for predictive maintenance, allowing vehicle owners and fleet operators to address potential issues before they lead to costly repairs or vehicle downtime. This is boosting the automotive telematics market revenue.
Furthermore, the increasing automotive telematics demand is supported by government initiatives aimed at improving road safety and reducing emissions. Governments across the world are implementing regulations that encourage the use of telematics systems to monitor vehicle emissions, track fuel consumption, and ensure compliance with safety standards. For instance, the European Union's mandate for the implementation of eCall systems in all new vehicles is a key driver of telematics adoption in the region.
The rising trend of car sharing, and ride-hailing services is also contributing to the automotive telematics market demand. Companies in the shared mobility space are increasingly relying on telematics to manage their fleets, track vehicle usage, and ensure the safety of passengers. Telematics systems also enable ride-hailing companies to offer real-time tracking of vehicles, enhancing the customer experience and building trust among users.
In conclusion, the global automotive telematics market development is being driven by the rising demand for connected vehicles, the increasing use of telematics in fleet management, and the growing focus on road safety and emissions reduction. The integration of advanced technologies such as AI and big data analytics is further propelling the adoption of telematics systems in the automotive sector. As the market continues to evolve, key players in the industry are expected to invest in innovation and expand their product offerings to cater to the increasing demand for telematics solutions.
Market Segmentation
Market Breakup by Hardware
Telematic Control Unit Navigation Systems Communication Devices Audio/Video Interface CAN Bus
Market Breakup by Service
Infotainment and Navigation Safety and Security Fleet Management Others
Market Breakup by Technology
Embedded Tethered Integrated
Market Breakup by Vehicle Type
Passenger Cars Commercial Vehicles
Market Breakup by Sales Channel
Original Equipment Manufacturer (OEMs) Aftermarket
Market Breakup by Region
North America Europe Asia Pacific Latin America Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive telematics market. Some of the major players explored in the report are as follows:
Robert Bosch GmbH Continental AG Marelli Holdings Co. Ltd. Samsung Electronics Co. Ltd. (Harman International) Verizon Communications Inc. Octo Group S.p.A. Aptiv PLC Visteon Corporation Valeo Group Airbiquity Inc. Omnitracs, LLC
Key Attributes
| Report Attribute | Details |
| No. of Pages | 156 |
| Forecast Period | 2024-2032 |
| Estimated Market Value (USD) in 2024 | $91.24 Billion |
| Forecasted Market Value (USD) by 2032 | $277.17 Billion |
| Compound Annual Growth Rate | 14.9% |
| Regions Covered | Global |
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Automotive Telematics Market
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