What Has Been The Historical And Current Growth Of The Automotive Telematics Market?
The automotive telematics market has seen considerable growth due to a variety of factors.
• The market size of automotive telematics has seen a considerable surge recently, intensifying from $164.09 billion in 2024 to an anticipated $209.6 billion in 2025, denoting a compound annual growth rate (CAGR) of 27.7%.
The remarkable growth in the past could be attributed to the sturdy economic expansion in budding markets, the rise in vehicle ownership numbers, heightened vehicle theft incidents, and the widespread adoption of connected car technologies.
What are the Market Size and Expected Growth Rates for the Automotive Telematics Market?
The automotive telematics market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the automotive telematics market as it is predicted to experience significant growth in the coming years. By 2029, this market is expected to reach a value of $547.51 billion, with a compound annual growth rate (CAGR) of 27.1%.
Factors leading to this projected growth include the increasing popularity of electric vehicles (EV), supportive governmental policies, and heightened concerns surrounding vehicle safety. Future trends to watch for within this forecasted period include the integration of artificial intelligence (AI), innovation in products, corporate collaborations and acquisitions, telematics-related insurance development, cloud technology applications, and the acceptance of self-installed telematics devices.
What Are The Core Factors Supporting Growth In Automotive Telematics Market?
The expansion of the automotive telematics market is being propelled by a rise in motor accidents. Car collisions, sometimes also described as accidents involving a car colliding with either another vehicle or fixed objects, are diminished by automotive telematics via offering on-the-spot feedback to drivers. To enhance safety of vehicles and drivers, leading automobile manufacturers are presently integrating automotive telematics. For example, the Germany-based federal statistics institution, Statistisches Bundesamt, in a report launched in February 2023, accentuated that around 21,600 individuals sustained injuries in road mishaps in 2023, marking about 900 injuries, amounting to a growth of 5%, as compared to 2022. In line with this, there was a rise in traffic fatalities by 13, summing up to 167 in February 2023. Consequently, the surge in car accidents is a significant driver propelling the growth of the automotive telematics market.
How Is The Globa Automotive Telematics Market Divided Into Key Segments?
The automotive telematics market covered in this report is segmented –
1) By Connectivity Solutions Type: Embedded, Integrated, Tethered
2) By Vehicle Type: Commercial Vehicles, Passenger Vehicles
3) By Application Type: Fleet Or Asset Management, Navigation And Location-Based System, Infotainment System, Insurance Telematic, Safety And Security, Other Applications
4) By Sales Channel Type: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Embedded: Integrated Telematics Control Units (TCUs), Built-In Communication Modules
2) By Integrated: OEM Integrated Systems, Multi-Function Devices
3) By Tethered: Smartphone-Based Telematics, Portable Devices And Dongles
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What Trends Are Reshaping The Automotive Telematics Market?
In the automotive telematics industry, many leading companies are opting for strategic partnerships as a means to increase technological incorporation and broaden their market presence. Essentially, a strategic partnership is a cooperative effort between two or more firms to pool resources, knowledge, and energy to attain shared targets. For example, in May 2023, Admiral Group plc, a financial services company based in the UK, collaborated with Ford Smart Mobility, an American company investing in mobility services, and Redtail Telematics, a British creator of tailored telematics goods, to introduce a connected car telematics product. This product permits qualifying Ford car owners to disclose driving data collected from their cars via the FordPass application, and through their car’s screen, they can give permission for data sharing, thereby creating a more bespoke and economically efficient insurance experience.
Who Are the Key Players in the Automotive Telematics Market?
Major companies operating in the automotive telematics market include:
• Samsung Electronics Co. Ltd
• Robert Bosch GmbH
• Michelin Group
• Valeo Group
• TomTom N.V.
• Vontier
• Trimble Inc.
• Continental AG
• NavInfo Co. Ltd
• Ficosa International SA
• Mahindra Truck and Bus (MTB)
• Mitsubishi Fuso Truck
• Hyundai
• Geely Lynk & Co
• Shenzhen Eelink Communication Technology Co. Ltd
• 22 DOTS
• TruckTrack GmbH
• INTRANAV
• FLEETIZE – Telematics
• Exatrek
• Visualix
• Trackee.io
• IoT Venture GmbH
• In Car Telematics
• Masternaut
• Teletrac Navman
• Verizon Connect
• Movolytics
• QUARTIX
• Vodafone Fleet Telematics
• RAM Tracking
• Samsara
• OCTO Automotive
• MiX Telematics
• Telematika
• Kazan Telematics
• TrackGPS
• Mapon
• Intellishift
• Linxup
• Damoov
• Cambridge Telematics
• ISAAC Instruments
• Frotcom
• Argus Telematics
• Iveco
• Autotrac
• Mercedes-Benz
• Omnilink
• Volkswagen
• Teltonika Telematics
• Location Solutions Telematics LCC
• Norconsult Telematics
• FMS Tech
• Advanced Telematics Solutions
• Ctrack Matrix
What are the Regional Insights into the Automotive Telematics Market?
North America was the largest region in the automotive telematics market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
