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.
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.
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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.
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- Regional Analysis
The global Telematics (BIM) market is estimated to grow at a promising rate in upcoming years. North America has witnessed to dominate the market due to presence of established automotive industry and growing telecommunication sector in the region. Also, high demand for premium cars with advanced safety and comfort features has driven high growth in telematics market of North America region. Followed by Europe which is the leading region for automotive manufacturing 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 and offering funding for electric vehicle manufacturers and increasing adoption of electric vehicle by consumers.
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- Technology Investors
- Research/Consultancy Firms
- Original equipment manufacturers (OEMs)
- Technology Providers
- Government Bodies
- Automobile Companies
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