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  • 25 June 2019 23:03

Automotive Embedded Telematics Market Projected to Garner Significantly by 2026

Automotive Embedded Telematics Market registering at a CAGR growth of 20.9% over the forecast period and market size is estimated to reach USD 40.2 billion by 2026.

The increasing volumes of passenger and commercial vehicles and demand for improved in-vehicle connectivity in the Asia Pacific region are expected to accelerate the market growth. The installation/inclusion of features such as automatic collision notifications, hands-free calling, and driver assistance in connected passenger and commercial vehicles further encourages the growing adoption of automotive embedded telematics systems. Introduction of navigation services, along with the implementation of data services such as application-based services, content management, among others are anticipated to further fuel the demand in near future.

Stringent government regulations concerning the safety of passengers have necessitated Original Equipment Manufacturers (OEMs) to install security systems in vehicles. The European Union mandated the inclusion of an eCall alarm system in all passenger cars and light commercial vehicles produced post May 2018. The regulation applies to all new cars manufactured in Europe. In addition to instantaneous deployment of airbags, the eCall system automatically places a call to an emergency response center in the event of an accident or other emergencies. The GPS installed in the car is used to determine the vehicle's location to facilitate immediate deployment of emergency assistance to that location. Such favorable government policies are anticipated to contribute to the market expansion in the forthcoming years.

The global automotive embedded telematics market is segmented into component, solution, application and region. On the basis of component the global automotive embedded telematics market is segmented into hardware, service, and connectivity. On the basis of solution, the global automotive embedded telematics market is segmented into safety & security, information & navigation, entertainment, and remote diagnostics. On the basis of application the global automotive embedded telematics market is segmented into passenger cars, and commercial vehicles. On the basis of region the global automotive embedded telematics market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.

The key players catering to the global automotive embedded telematics market are Verizon Connect, Ford Motor Company, BMW Group, Continental AG, INFINITI Motor Company Ltd., General Motors Company, MiX Telematics International Ltd., TomTom Telematics BV, Toyota Motor Corporation, and Hyundai Motor Company. The global players are continuously investing in R&D and innovating new product portfolio to attract more and more business opportunity from the emerging nation such as India and China. Also, Increasing R&D investments coupled with technological advancements to commercialize highly efficient products are anticipated to offer lucrative opportunities for industry participants.

Key suggestions from the report:

- Automotive manufacturers are apportioning considerable investment capital and dedicating company resources towards developing autonomous vehicles. This is anticipated to lead to a subsequent rise in the adoption of automotive embedded telematics systems

- Key companies in North America including Verizon and Mix Telematics are developing various advanced solutions in the automotive embedded telematics market and thus expected to encourage regional market growth in near future

- Asia Pacific is anticipated to observer the highest CAGR of 7.3% during the forecast timeframe.

- The key market participants include Ford Motor Company, Continental AG, General Motors, TomTom Telematics BV, Hyundai Motor Company, Toyota Motor Corporation, MiX Telematics International Ltd., INFINITI Motor Company Ltd., BMW AG, and Verizon Connect, to enumerate a few.

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