According to a new report published by Fact.MR, the automotive telematics market will continue to operate robustly in 2019, with global sales expected to exceed $27 billion in 2019. With the inclusion of automotive telematics, we are witnessing a steady upgrade of the functional capabilities of vehicles. Automotive telematics systems find a wide range of applications for improving communication, mapping and safety functions in automobiles.

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Key Takeaways from the Market Study

• By product, embedded automotive telematics to garner US$ 6 Bn for automotive telematics in the assessment period
• By sales channel, OEM to yield an opportunity worth US$ 32 Bn for automotive telematics in the forecast period
• Europe to emerge as the fastest expand automotive telematics landscape, clocking a 10% CAGR
• Asia to register a 9% CAGR, generating US$ 77.2 Bn in value for automotive telematics
• By 2021, automotive telematics market value to reach US$ 41.6 Bn, expanding over 5x by 2031

“As global ownership of automobiles increases, prominent manufacturers are introducing enhanced safety and security features across new car models to prevent road accidents and damage, widening prospects for automotive telematics,” opines Fact.MR analyst.

Key Segments Covered

• Product Type
  • Embedded Automotive Telematics
  • Integrated Automotive Telematics
  • Tethered Automotive Telematics
• Services
  • Safety and Security Automotive Telematics
  • Information & Technology Automotive Telematics
  • Entertainment & Remote Diagnostics Automotive Telematics
• Vehicle Type
  • Passenger Car Automotive Telematics
  • LCV Automotive Telematics
  • HCV Automotive Telematics
• Sales Channel
  • Automotive Telematics Sales via OEMs
  • Automotive Telematics via Aftermarket

Competitive Landscape

Prominent service providers are relying on introducing new software which facilitate advanced damage detection systems, based on cloud and artificial intelligence approaches. Noteworthy developments in the past few months are as follows:

• In January 2021, Harman International Industries Inc. announced the introduction of HARMAN Turbo Connect (TBOT). The software anticipates and mitigates connectivity discrepancies on the road. This addition to the current portfolio satisfies current demand for high speed connectivity with low latency, especially when used with 5G-enabled technologies, including  its Smart Conformal Antenna
• In November 2021, Robert Bosch GmbH introduced its Ridecare services, equipped with a sensor box, to detect damage to a vehicle and smoke inside the vehicle. The sensor deploys a cloud-based data analysis using artificial intelligence, disbursing information on whether a vehicle has been damaged, or someone has smoked in it. Pilot projects are being initiated across North America, Asia and Germany