Telematics In Automotive Market Research Report - Forecast to 2023

Global Automotive Telematics Market was valued at US$ 10.82Bn in 2019 and is expected to reach US$ 41.30Bn by 2027, at a CAGR of 18.23% during a forecast period.The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors.

Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments.

Whether one manages a fleet of cars, pickup trucks, vans, box trucks, or tractor-trailers, telematics technology improves the safety and efficiency of commercial transportation.

Automotive Telematics is primarily driven by multi factors like an increase in the number of accidents, rising vehicle thefts, security issues while traveling and the demand for navigation services, etc.

Safety & Security is playing a key role in automotive telematics.In Trends – Predictive analytics.The data that automotive telematics can extract is an important tool in performing a wide range of risk assessments.

As such, the data is so much more than a means to measure past performance; it also allows fleet managers to pre-emptively manage operations.In terms of region, Asia Pacific is expected to hold the largest share in the Automotive Telematics market during the forecast period.

According to a new report published by Fact.MR, the automotive telematics market is likely to continue its solid run in 2019, with global revenues likely to surpass US$ 27 billion in 2019.

With the inclusion of automotive telematics, the functional capabilities of vehicles are witnessing a steady upgrade.

Automotive telematics system finds widespread applications in communication, mapping and for improving the safety features in an automotive.

As a result, a notable increase in the adoption of the automotive telematics systems has been witnessed in the recent past, and the status quo is likely to continue over the course of the forecast period.Request for the Report Summary: https://www.factmr.com/report/45/automotive-telematics-marketKey driving factors for the automotive telematics include favorable government regulations, ubiquitous use of smartphones, enhanced broadband networks, and the advent of sophisticated communication technologies.

The adoption of automotive telematics can also be attributed to the far-reaching capabilities of OEMs.

This is facilitating a steady growth in the automotive telematics market, with revenues likely to grow at over 23% in 2019.Europe continues to be the numero uno market for automotive telematics, owing to the high concentration of forerunning players that focus on scaling and expansion of their businesses in parallel to diversifying their product portfolio.