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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
Automotive Telematics Solution Market Share
The global market is also expected to grow with the rising vehicle production and safety standards worldwide. Additionally, the rise in telematics software integration in autonomous and connected vehicles is expected to drive the growth of the automotive telematics solution industry. The consumer preference for advanced driver assistance systems in automobiles is expected to add to the growth of the automotive telematics solution market during the forecast period.
The demand for the automotive telematics solutions market is driven by vehicle tracking and fleet management. Vehicle tracking enhances security and route planning through real-time location monitoring and boosts efficiency by optimizing travel paths, reducing fuel consumption, and improving delivery times. It also enhances customer service with accurate updates and quick responses to issues.
Fleet management utilizes telematics to optimize operations, cut downtime, and reduce costs by improving route planning and maintenance scheduling. It also monitors fuel use and driver behaviour to save on fuel and repairs while promoting safety and compliance, further boosting automotive telematics solutions market revenue.
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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124