Report Overview

The global automotive telematics solution market attained a value of nearly USD 15.80 billion in 2023. The market is further expected to grow at a CAGR of 24.6% during the forecast period of 2024-2032 to reach a value of USD 114.36 billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Automotive Telematics Solution Market Growth

Telematics is a way of monitoring a vehicle's location and movement by integrating GPS and onboard diagnostics devices. Recording the speed and internal behaviour of automobiles through GPS and diagnostics systems is boosting the demand for the automotive telematics solution market.

 

Telematics systems are mostly used by auto insurance companies, fleet management companies, and others to monitor a vehicle's position and behaviour and assist customers in keeping their vehicles safer, preventing them from becoming lost, and contacting roadside assistance.

 

Automotive Telematics Solution Market Report Snapshots

Automotive Telematics Solution Market Size

Automotive Telematics Solution Market Growth

Automotive Telematics Solution Market Analysis

Automotive Telematics Solution Market Share

Automotive Telematics Solution Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The global automotive telematics solution market value is projected to grow at a CAGR of 24.6% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 114.36 billion by 2032.

The major drivers of the market include the presence of major automotive electronics components manufacturing industries, an increase in the number of road accidents, government regulations for vehicle telematics, technological advancements, and growing consumer preference for advanced driver assistance systems in automobiles.

The rise in safety awareness and the rise in telematics software integration in autonomous and connected vehicles are the key industry trends propelling the growth of the market.

The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The significant applications of the market are vehicle tracking, fleet management, satellite navigation, and vehicle safety communication, among others.

Based on vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.

The various sales channels in the market are original equipment manufacturers (OEMs) and aftermarkets.

The competitive landscape consists of Teletrac Navman US Ltd, PowerFleet, Inc. (I.D. Systems, Inc.), Trimble Inc., Fleetmatics Pvt. Ltd, and Airbiquity Inc. among others.

In 2023, the market reached nearly USD 15.80 billion.

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