Telematics Global Market- Overview
Technology advancement in every industry sector has transformed the functionalities of a machine to the next level. The driving factor of emerging digital technology has make communication with machines possible and is further boosting its growth in coming years. Artificial intelligence is one of the fastest growing technology in this area which is developing its roots in transportation, automation, construction and industrial applications. Artificial intelligence with support of machine learning is one of the major driving force behind emergence of self-driving and connected cars in the automotive segment. Image recognition, telematics, and GPS and GNSS are some of the features engrossed with self-driving cars. Many major companies such as Harman, Samsung, LG and AT&T are investing in developing innovative telematics solution for their customers.
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The major growth driver of Telematics Market includes rising demand for high-Telematics, increasing adoption of renewable energy sources such as electric vehicles, and growing ICT and telecommunication sector among others. However, high initial cost and time consuming manufacturing process are the major factors which are hindering the growth of Telematics Market
Some of the major players in global Telematics Market 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.
The prominent players constantly keep innovating and investing in research and development in order to present a cost-effective portfolio. There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customers
Telematics Global Market- Segmentation
The Telematics Market can be classified into 4 key segments as follows:
- Segmentation by Technology: embedded, portable and hybrid among others.
- Segmentation by Services: navigation, diagnostic, on-demand infotainment and maintenance and security among others.
- Segmentation by Application: commercial, automotive, IT, insurance, telecommunication, healthcare and government among others.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Telematics Global Market- Competitive Analysis
Telematics market appears to be competitive in the coming years owning to the presence of numerous large players active in regional market. Verizon Communication Inc., Harman International Industries Inc., Tom-Tom International BV, and AT&T are some of the companies leading the Telematics market globally. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
The global telematics market is estimated to grow at a promising rate in upcoming years. The geographical analysis of Telematics market marks the study for regions like North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand) and rest of the world (including the Middle East, Africa, and Southern America). Of all the regions, the market is mostly dominated due to the higher adoption rate of technology in North America. The United States contributes a major portion to this growth, especially in commercial telematics. Also, high demand for premium cars with advanced safety and comfort features has driven high growth in telematics market.
Although the technology is still developing, the companies including various start-ups have begun conducting experiments on the road and have also partnered with telecommunication service providers to accomplish the task. Also, the region holds more than 60% of the top prominent players providing services in this market. North America is closely followed by Europe region, which is a leader considering the automobile industry. Europe and North America are the technologically advanced regions, and the factor affecting the growth of this market is the growing application of analytics in industries like transportation, automotive, supply chain, and logistics, retail, healthcare, and IT & Telecommunication and is increasing deployment of advanced telematics features in the end product. Asia-Pacific is expected to be the fastest growing region due to increasing initiatives by government.
January 2018 – Samsung has announced to launch telematics control unit (TCU) which is also known as 5G ready automotive solution. This product has manufactured with collaboration with Harman technologies. The TCU has been built to work with 4G network though can also connected over 5G network in the coming years.
December 2017 – LG Corporation partnership with HERE, provider of mapping data and related services in order to expand its electronic business. Under this partnership, LG is working with HERE to integrate telematics in its products to serve driving vehicle applications.
December 2017 – Zurich Insurance Group acquired Bright Box HK Ltd., a specialist of telematics and connected car technologies. This is a strategic move of Zurich Insurance Group to serve their customers with fast changing automotive solutions.
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