Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Automotive Telematics Market Size and Forecasts, Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Offering, Connectivity, Vehicle Type, Application , and Geography" report has been added to ResearchAndMarkets.com's offering.
The global automotive telematics market is poised for significant expansion, evidenced by a comprehensive analysis that delineates its impressive growth trajectory, forecasted to surge at a CAGR of 17.8% from 2022 to 2030. As technology continues to reshape the automotive landscape, an increasing number of vehicle manufacturers are embedding sophisticated telematics systems to cater to the rising demand for connected cars.
The advent of intelligent telematics gateways equipped with advanced neural processing capabilities and AI integration has opened the doors to unprecedented opportunities within the market. These cutting-edge systems facilitate real-time vehicle tracking and data communication, offering transformative solutions to vehicle connectivity and data management.
Increasing OEM Installations to Propel Market Expansion
Respected automotive Original Equipment Manufacturers (OEMs), known for pioneering innovation, are augmenting the growth of the telematics market by incorporating embedded systems tailored to consumer preferences. Embedded telematics installations by these manufacturers reached a notable milestone in 2022 and are forecasted to maintain robust growth. This adoption aligns with the increasing trend of connected cars and consumer emphasis on safety through cloud-connected vehicular systems.
- Embedded systems driving market growth with rising installations globally
- Telematics subscribers exhibit rapid increase, leveraging embedded systems
- China takes significant strides in telematics services adoption
- Advanced processor-equipped intelligent telematics gateways transforming the market
Regional analysis suggests that North America stands at the forefront of advanced telematics systems adoption, closely followed by Europe and the Asia Pacific. In particular, nations such as India, China, Japan, and South Korea are emerging as the fastest-growing adopters of telematics services, highlighting the market’s dynamic nature.
Market Driven by Advanced Applications and Technological Evolution
In a rapidly evolving automotive landscape, telematics technology is a critical feature for modern vehicles, offering an array of functionalities from safety enhancements to improved navigational systems. Moreover, the integration of AI is anticipated to catalyze market growth by transforming telematics gateways into intelligent, multifunctional tools capable of handling complex data and enhancing vehicle-to-everything (V2X) communication.
The market's competitive landscape showcases key developments from industry leaders in the telematics domain, underscoring innovative approaches and collaborations that are shaping this technology's future.
Stakeholders in the automotive industry, from manufacturers to technology integrators, stand to gain valuable insights from the elaborate market trends and outlook presented. This research provides an authoritative analysis that can assist in the strategic decision-making process and underpin the development of robust business strategies aligned with the market's growth potential.
Ultimately, the rising adoption of embedded telematic systems by OEMs worldwide is a testament to the market's ripe opportunities and the transformative impact of these technologies within the automotive sector.
Company Profiles:
- Verizon Communication
- Geotab
- Omitracs
- Samsara
- Motive Technologies
- Lytx
- Zonar Systems
- ORBCOMM
- Trimble
- Skybitz
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 224 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 42.41 Billion |
| Forecasted Market Value by 2030 | 157.48 Billion |
| Compound Annual Growth Rate | 17.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/pb7mjf
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