Global Vehicle Telematics Market Report and Forecast 2024-2032

Global Vehicle Telematics Market Outlook

The global vehicle telematics market size is expected to grow at a CAGR of 15.60% between 2024 and 2032. The market is being driven by increasing sales of vehicles and growing awareness pertaining to advantages of vehicle telematics.

Key Trends in the Market

Vehicle telematics refer to a combination of advanced technologies including GPS, onboard vehicle diagnostics, and wireless devices that are used to collect data from the vehicle, derive insights, and transmit accordingly. Aspects such as vehicle speed, location, requirement of maintenance, and servicing needs, among others, are often monitored by vehicle telematics.

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• Rising demand for quick cab services, growing expansion of freight transportation services, and increasing dependence of the urban population on delivery services are escalating the application of GPS technology, thereby adding to the vehicle telematics market growth.

• Growing usage of portable smart devices such as smartphones and tablets are likely to add capabilities to vehicle telematics systems which can help users better understand the maintenance needs of their vehicle. This factor is likely to diffuse awareness about the importance of vehicle telematics.

• Increasing sale of luxury passenger and light and heavy commercial vehicles, owing to rising disposable incomes, expansion of car companies, robust urban growth, and thriving transportation sector across the emerging economies, is a crucial vehicle telematics market trend.

Market Analysis

Based on service, the market is segmented into safety and security, fleet/asset management, information and navigation, insurance telematics, and infotainment system, among others. On the basis of technology, the market is classified into embedded, integrated, and tethered. By vehicle type, the market is categorised into passenger cars and commercial vehicles. Based on sales channel, the market is bifurcated into OEM and aftermarket. The regional markets for vehicle telematics are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global vehicle telematics market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Samsara Inc.

• MiX Telematics International (Pty) Ltd

• Trimble Inc.

• Verizon Connect

• Zonar Systems, Inc.

• Octo Group S.p.A

• HARMAN International

• Visteon Corporation

• Aplicom Oy

• Scorpion Automotive Ltd

• Others

Market Share by Services

The fleet/asset management segment, based on services, accounts for a healthy share of the vehicle telematics market. Expansion of fleets globally, with more companies investing in logistics and transportation, is leading to an increased demand for efficient management of vehicles and suitable monitoring of drivers. Fleet/asset management services of vehicle telematics provide useful asset information which can enable the analysis of driver behaviour, consumption of fuel, and diagnostic trouble codes (DTC), to optimise the performance of a vehicle. Over the forecast period, the fleet/asset management segment is likely to gain traction among the fleet operators to reduce engine errors and to combat poor driving habits.

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Market Share by Region

North America occupies a significant share of the global vehicle telematics market, supported by well-established automotive network, and growing focus on vehicular safety, passenger security, and prevention of accidents. The strong foothold of renowned fleet management solution providers in countries like the United States and Canada are further contributing to the market expansion. Early adoption of new technologies by consumers and rising disposable income are leading to more users investing in vehicles with telematics. Favourable initiatives of governments in the region, aimed towards escalating the incorporation of telematics technology in commercial and passenger vehicles, are enlarging the opportunities for the market for vehicle telematics.

Competitive Landscape

Samsara Inc. is a leading software company which offers IoT technology to various end use sectors including transportation, food and beverage, and government, among others. The company was founded in 2015 and is headquartered in California, United States.

MiX Telematics International (Pty) Ltd is a global provider of fleet and mobile asset management solutions. Established in 1996 and currently headquartered in Stellenbosch, South Africa, the product portfolio of this company includes enterprise and small fleets.

Trimble Inc., founded in 1978 and headquartered in Colorado in the United States, is a prominent provider of software, hardware, and technology services. The company offers transformative solutions to various end users, helping them thrive.

Other market players include Verizon Connect, Zonar Systems, Inc., Octo Group S.p.A, HARMAN International, Visteon Corporation, Aplicom Oy, and Scorpion Automotive Ltd, among others.

Key Highlights of the Report