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Global Telematics Market 2018-2023:
Telematics is the amalgamation of multiple technologies working simultaneously to perform multiple operations to collect and use data for effective cost-optimization. Industries have been aggressively leveraging the benefits of this technology. The automotive industry has emerged as the most prominent end-user vertical for the telematics technology. Rising demand and compliance regulations to ensure the safety of the passenger have encouraged leading vendors towards installing telematics infrastructure within the automobile. Telematics has been relevant in the market over the last few years, however, the market for telematics is set to grow exponentially over the next decade.
The telematics market is expected to register a CAGR of 24.81% over the forecast period (2018 – 2023).
OCTO TELEMATICS S.P.A, AIRIQ, INC., MIX TELEMATICS INTERNATIONAL LTD., WEX INC., MASTERNAUT LIMITED, TOMTOM N.V, GEOTAB INC., AT&T INC., CISCO SYSTEMS INC., AND GOOGLE INC., amongst others.
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Diverse Range of Applications Bolstering its Use in Automotive Industry:
Research estimates that more than 50% of all the automotive vehicles to be manufactured in 2020 are expected to be incorporated with telematics solutions. Telematics have a broad range of applications in the automotive industry, ranging from safety assistance, vehicle tracking, diagnostics, and usage-based insurance, among a host of other applications. Vehicle tracking and monitoring are expected to be the most prolific end users of the telematics solutions due to their integral role in optimize fuel use and facilitating data management for smooth functioning of the vehicle.
North America Leading the Market for Telematics:
North America is a pioneer in technology, and is estimated to be the largest market for telematics, buoyed by the presence of many key OEMs, a highly advanced infrastructure, and the presence of a comparatively large automotive market. Emergence of smart cities and smart homes initiatives across the US and Canada has been another major segment accounting for the demand for telematics solutions in the region. The growing number of applications in the healthcare and fleet management sector have further propelled the growth of the telematics market in the region.
Key Developments in The Market:
• January 2017 – Ford and Toyota together have formed a Telematics Bloc to prevent major technology giants, such as Google and Apple, to venture into the industry and gain control over the infotainment and other features within the automobiles. Automotive manufacturers are working towards collaborating in order to stymie technology companies from gaining prominence in the industry. Mazda, Fuji, PSA, and Suzuki have also joined the force to ensure connectivity choice.
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Reasons to Purchase the Report:
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segments that are expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report:
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Table of Content:
1.1 Scope of the Study
1.2 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases
3. Market Analysis
3.1 Market Overview
3.2 Industry Attractiveness – Porter’s Five Force Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products
3.2.5 Competitive Rivalry
3.3 Industry Value Chain Analysis
4. Market Dynamics
4.1 Market Drivers
4.1.1 Growing Demand for Connected Cars
4.1.2 Increase in Number of Applications across Diverse Industries
4.2 Restraints to the Market
4.2.1 Limited awareness of the technology in end-user industries
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5. Technology Snapshot
6. Global Telematics Market Segmentation and Forecast
6.1 By End-Users Industry
6.1.5 Media & Entertainment
6.2 By Region
6.2.1 North America
6.2.4 Rest of the World
7. Competitive Intelligence – Key Vendor Profiles (List not Exhaustive)
7.1 OCTO Telematics S.p.A
7.2 AirIQ, Inc.
7.3 Mix Telematics International Ltd.
7.4 WEX Inc.
7.5 Masternaut Limited
7.6 TomTom N.V
7.7 GeoTab Inc.
7.8 AT&T Inc.
7.9 Cisco Systems Inc.
7.10 Google Inc
8. Investment Analysis
9. Market Outlook
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