Overview:
The global telematics market is fuelled by the rapid technological advances in end use sectors. Market Research Future (MRFR) in its recent study reveals that the global telematics market is set to demonstrate a health growth over the next several years. Factors such as growth in wireless connectivity, rise of industrial automation, inclination towards clean energy, growth of electric vehicle industry, expansion of information technology sector, and arrival of novel telecommunication technologies are having a positive influence on the global Telematics Market.
Telematics is expected to become an important technology segment in the years to come. Industry verticals such as healthcare, automotive, telecommunication among others are striving to leverage telematics to improve their products and services. This, in turn, is encouraging service providers to make further investment. Market players are actively focusing on product innovation, which has led an increase flow capital towards research and development pipeline. The rise IoT, AI, machine learning and big data is also linked the growth growing prospects of telematics. Nonetheless, telematics is new technology and will require time to reach its potentials.
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Key Players:
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.
Segmentation:
The segmental analysis of the market has been conducted based on services, application and technology.
On the basis of services, the market has been segmented into maintenance and security, on-demand infotainment, diagnostic and navigation. On the basis of application, the market has been segmented into automotive, healthcare, commercial, government and IT & Telecommunication. On the basis of technology, the market has been segmented into portable, hybrid and embedded.
Regional Analysis:
The market has been covered across North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. In North America, countries such as the US and Canada have been covered. The APAC market also includes countries such as New Zealand and Australia. North America spearheads the global telematics market in terms of value. Countries such as the US and Canada are early adopters of telematics, which puts the region at a favourable position. Commercial telematics is witnessing a strong demand in the region. End use sectors, especially automotive is expected to present attractive growth opportunities during the forthcoming years. Increased sales of premium-end cars that come with advanced comfort and safety. Telematics holds significant application potential across various industrial verticals. Sector such as automotive, telecommunication and healthcare are established in the North America, which makes the region an attractive destination for market players. In addition, presence of a large number companies with expertise in telematics remain a favourable factor for market in North America.
Europe is the largest market for telematics in the world. Technologically advanced countries such as Germany, the UK, Netherlands and France present significant market opportunities. In Europe, telematics application in logistics, healthcare, retail and IT and telecommunication is gaining traction and thereby creating lucrative growth avenues for market players.
Asia Pacific is viewed as a fast-emerging market for telematics. Economic growth and expansion of manufacturing sector due introduction of favourable government policies. In APAC, countries such as China and India are likely to make significant contribution to the market during the forecast period.
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Intended Audience
- Telematics Market services providers
- Smart components manufacturers
- Government agencies
- Electronic components manufacturers
- Value-added resellers
- Auto parts suppliers
- Research Firms
- Automation & control networking technologies vendors
- Component manufacturers (sensors & controls)
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