The main objective of this report is to define, describe, and forecast the global “Automotive Telematics” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global automotive telematics market is projected to grow at a CAGR of 19.5% over the forecast period of 2018-2024.
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Adoption of telematics system by car rental service providers and cab service providers has driven the growth of the automotive telematics system market
The adoption of telematics system by car rental service providers and cab service providers has driven the growth of the automotive telematics system market. The automotive telematics plays a crucial role in the self-driving car by providing accurate and efficient data management. The automotive telematics is able to provide constant transmission of large amounts of data. In addition, the car manufacturers are adopting telematics system in their new models owing to growing consumer preference for advance safety and security features. Telematics system offers various benefits such as remote access to vehicle operation information, automated emergency calling, family notification in case of vehicle collision and vehicle diagnostic and maintenance notification. Moreover, the use of telematics in usage-based insurance is boosting the growth of automotive telematics market. The various Auto Insurers are offering usage-based insurance that also known as pay-as-you-drive (PAYD) insurance or pay-how-you-drive (PHYD) insurance. The automotive telematics is the precise application for determining more accurate insurance premium depending upon when, where and how people drive. The usage-Based Insurance helps both the insurance companies and the consumer. Usage-Based Insurance allow premium depending upon the safe driving ability so the consumers have the facility to lower their premium by actually driving safely. Furthermore, the government regulations on the vehicle and the passenger’s safety lead to the high adoption of a telematics system devices in the vehicles.
Automotive Grade Linux Enables Telematics and Instrument Cluster Applications with Latest UCB 6.0 Release
In October 2018, Automotive Grade Linux (AGL), a collaborative cross-industry effort developing an open platform for the connected car, announced the latest release of the AGL platform, Unified Code Base (UCB) 6.0, which features device profiles for telematics and instrument cluster.
Developed through a joint effort by dozens of member companies, the AGL Unified Code Base (UCB) is an open source software platform that can serve as the de facto industry standard for infotainment, telematics and instrument cluster applications. Sharing a single software platform across the industry reduces fragmentation and accelerates time-to-market by encouraging the growth of a global ecosystem of developers and application providers that can build a product once and have it work for multiple automakers.
North America holds the maximum market share in the automotive telematics market
Geographically, North America holds the maximum market share in the automotive telematics market owing to the high adoption of innovative technology, strict government regulation for the vehicle and passengers safety. Till now, the U.S has the high telematics penetration by the country and the rate of adoption is increasing at a decent rate owing to its potential to increase road safety, improve driving behaviour, align insurance premiums with actual need via usage-based insurance (UBI).
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The major key players in Automotive Telematics Market are Airbiquity Inc, Continental AG, Delphi Automotive PLC, HARMAN International, Intel Corporation, Trimble Inc., MiX Telematics, AT&T Inc, Autotrac, and Teletrac Inc.
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