VANCOUVER, BC, Sept. 24, 2020
- The growth of the market is attributed to the rise in preference for security and safety features in vehicles and the surge in demand from the Western hemisphere.
- Market Size – USD 63.83 Billion in 2019, Market Growth - CAGR of 26.4%, Market Trends – Adoption of advanced technologies in the automobile sector
VANCOUVER, BC, Sept. 24, 2020 /PRNewswire/ -- The Global Automotive Telematics Market is projected to reach USD 415.93 billion by 2027, according to a recent report by Emergen Research. Stringent government rules in association with property identification, coupled with increased usage of cloud-based technology, is likely to drive the expansion of the global automotive telematics market.
On the other hand, the threat of knowledge hacking, high installation price, and, therefore, the dearth of unceasing and seamless net property impede the market to some extent. The safety quotient associated with the increase in performance of the autonomous vehicles is likely to drive the market growth. Moreover, a variety of business selections for different fleets of autonomous vehicles is anticipated to bring a wide array of opportunities in the market.
The rise in the adoption of web-based services and the convenience of advanced communication technology offer vast growth opportunities for fleet management businesses. Major technologies utilized in the market include GPS trailing systems, telematics, and M2M communication, among others. In telematics and M2M devices, with a sturdy communication network, fleet management activities are often simply handled and have a fast access and response mechanism. Moreover, many solutions offered within the automotive telematics market collect, manage, explore, interpret, and analyze the driving information of a selected driver. Good fleet management solutions generate an enormous volume of knowledge and help establish new business avenues in autonomous driving.
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Key Highlights From The Report
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For the purpose of this report, Emergen Research has segmented the Global Automotive Telematics Market on the basis of vehicle type, application, connectivity solution, and region:
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Connectivity Solution Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
e. Rest of Europe
c. South Korea
d. Rest of APAC
b. Rest of LATAM
a. Saudi Arabia
c. Rest of MEA
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