According to a new market report published by Lucintel, the future of the global automotive telematics industry looks promising with opportunities in the passenger car and light commercial vehicle. The global automotive telematics market is expected to reach an estimated $55.3 billion by 2021. The global automotive telematics market is forecast to grow at a CAGR of 27.4% from 2016 to 2021. The major drivers of growth for this market are increasing demand for integrated wireless communication systems within the vehicle and government regulations concerning safety incorporated automotive telematics systems.
In this market, safety and security, information and navigation, entertainment, and remote diagnostics are some of the major segments by service. On the basis of vehicle type, the market is segmented into passenger cars, light commercial vehicle, and heavy commercial vehicles. On the basis of its comprehensive research, Lucintel forecasts that the information, navigation, and entertainment segments are expected to show above-average growth during the forecast period due to increasing demand for real time information about the traffic, live news, internet radio, in-car internet, and Wi-Fi connectivity.
Within the global automotive telematics market, embedded, tethered, and integrated are the major segments by connectivity type. The embedded segment is expected to be the largest market during the forecast period due to better network connectivity and performance. Passenger car segment is anticipated to be the largest growing segment in vehicle type segment.
North America is expected to remain the largest market due to increasing regulations and majority presence of telematics OEMs and service providers in this region.
North America and APAC are expected to witness significant growth over the forecast period because of increasing vehicle penetration and awareness about the telematics vehicles.
For business expansion, the report suggests innovation and new service development to enhance the telematics services to provide real time assistance, traffic data, and location information to increase passenger’s safety. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
Emerging trends which have a direct impact on the dynamics of the industry include introduction of autonomous vehicles and transformation of non-connected cars into connected cars. Robert Bosch Gmbh, AT&T, Delphi Automotive Plc, Continental Ag, and Verizon Telematics are the major telematics suppliers in the global automotive telematics industry. Several companies are seeking mergers and acquisitions as strategic initiatives to drive growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive telematics industry by service, connectivity type, vehicle type and region, and compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Telematics Industry 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy because it provides comprehensive data and analysis of trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global automotive telematics market by service, connectivity type, vehicle type and region, as follows:
By service ($ billion from 2010 to 2021):
• Safety and security
• Information and navigation
• Remote diagnostics
By connectivity type ($ billion from 2010 to 2021):
By vehicle type ($ billion from 2010 to 2021):
• Passenger car
• Light commercial vehicle
• Heavy commercial vehicle
By region ($ billion from 2010 to 2021)
• North America
• Asia Pacific
• Rest of the World
This 139-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Capital Investment Analysis, Strategic Growth Consulting and Due Diligence.
This report answers following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for automotive telematics industry by service (safety and security, information and navigation, entertainment, and remote diagnostics), connectivity type (embedded, tethered, and integrated), vehicle type (passenger car, light commercial vehicles, and heavy commercial vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by materials / product substitution?
Q.11. What M & A activity has occurred in the last 5 years and what has its impact been on the industry?