Exactitude Consultancy Press Release: Global automotive telematics market

Automotive Telematics Market Insights, Automotive Telematics Market Revenue, Automotive telematics Market Size, Automotive telematics Market Trends, Automotive telematics Market Status, Automotive telematics Market Forecast

Vehicle telematics government regulations are driving the automotive telematics market.

The expansion of the telematics industry is driven by government laws and regulations for car safety, security, and monitoring in various areas. For example, in April 2018, the Indian government mandated that all public transportation vehicles with more than six seats be equipped with a tracking device. Furthermore, the Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) jointly produced national standards for the development of telematics systems in December 2017. As a result, government requirements for car telematics propel the worldwide automotive telematics industry forward.

The rise in the popularity of connection solutions is fuelling the automotive telematics market growth.

Over time, smartphones have altered the concept of connectedness. People want to keep linked to the outside world even while they are traveling. Since connection has become a need, automotive manufacturers are incorporating connectivity technologies into their vehicles in order to increase vehicle sales. Consumers want their automobiles to do duties similar to those performed by computers and smartphones. As a result of the increased customer demand for keeping connected 24 hours a day, seven days a week, the vehicle telematics industry is predicted to develop at a promising rate.

Explore198 market data Tables spread through nearly 144 Pages and an in-depth analysis of “Global Automotive Telematics Market by Channel (OEM & Aftermarket), Vehicle Type (Commercial Vehicle, Passenger Cars, and Two-Wheeler), Connectivity Solutions (Embedded, Integrated Smartphones, Tethered), Applications (Fleet Asset Management, Navigation & Location-based Systems, Infotainment Systems), and End-use Industry (Information Systems, Insurance Telematic, Safety & Security), and Region, Global Trends and Forecast From 2022 To 2029.” for Table of Contents–

Vehicle diagnostics made simple is helping the automotive telematics market to grow more than the projected period.

The development of advanced diagnostic systems is projected to fuel the growth of the automotive telematics industry. This technology in a car provides vehicle data to both automobile dealers and consumers, allowing possible automobile troubles to be predicted before they occur. With the use of connection technologies, fleet managers can easily track vehicle records, determine which vehicle has traveled the most, and offer services appropriately. Diagnostic devices check engine health by tracking smoke emissions and fuel use in automobiles. Thus, the convenience of car diagnostics through mobile applications is projected to drive market growth.

Data hacking is a risk in automotive telematics and is restraining the automotive telematics market.

Telematics is an emerging technology. Unauthorized access to numerous car connectivity solutions, as well as breaking into the in-vehicle connectivity system, can limit the automotive telematics industry. The primary security problem is that hackers have access to automobiles’ computer systems as well as the data they gather and retain. Thus, one of the reasons likely to stymie market expansion is hacking risks to car telematics systems.

The automotive telematics market is hindered by high installation costs.

The higher expenditures required while establishing a connection in a car are projected to limit the growth of the automotive telematics industry. Providing connection solutions in the car incurs additional costs for customers in the form of hardware, connectivity solutions, and telecom service rates. These additional charges imposed on the customer have a substantial influence on the vehicle telematics business. As a result, the high installation cost of telematics systems in automobiles is projected to stymie the industry. Inadequate continuous and seamless internet connectivity.

Telematics solutions’ primary goal is to keep users linked to the outside world. While traveling, people require constant Internet connectivity. Customers want their automobiles to perform functions similar to those of their laptops or smartphones. Interrupted connectivity limits the expansion of the telematics market since it does not provide continuous Internet service. This is mostly due to variability in the network provided by service providers, which differs by area.

Market Players- Automotive Telematics Market

The automotive telematics market’s key players include Robert Bosch Gmbh, AT&T INC, Continental AG, LG Electronics, Verizon, Masternaut Limited, TomTom Telematic B.V, Trimble Inc, Omnitracs, L.D. Systems Inc, Airbiquity Inc, Harman International Industries Inc, Mix Telematics, Teletrac Navman, Autotrack, DigiCore, Telogis, and CARTRACK.

For corporate expansion, these key leaders are implementing strategic formulations such as new product development and commercialization, commercial expansion, and distribution agreements. Moreover, these participants are substantially spending on product development, which is fueling revenue generation.

Key Market Segments: Automotive Telematics Market

by Channel, 2022-2029, (USD Billion), (Units)

• OEM
• Aftermarket

by Vehicle Type, 2022-2029, (USD Billion), (Units)

• Commercial Vehicle
• Passenger Cars
• Two-Wheeler

by Connectivity Solution, 2022-2029, (USD Billion), (Units)

• Embedded
• Integrated Smartphones
• Tethered

by Application, 2022-2029, (USD Billion), (Units)

• Fleet Asset Management
• Navigation & Location-Based Systems
• Infotainment Systems

by End-User Industry, 2022-2029, (USD Billion), (Units)

• Information Systems
• Insurance Telematic
• Safety & Security

by Region, 2022-2029, (USD Billion), (Units)

• North America
• Asia Pacific
• Europe
• South America
• Middle East and Africa

Important Countries in All Regions Are Covered.

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