China is one of the most lucrative regions for Asia Pacific automotive telematics market, accounting for 45.4% share of the overall market in 2014.

VALLEY COTTAGE, NEW YORK, UNITED STATES, July 20, 2015 /EINPresswire.com/ -- The global automotive telematics market is anticipated to expand at a compound annual growth rate (CAGR) of 8.8% during the period 2014-2020 and reach a valuation of US$ 50.70 Bn. On the other hand, the Asia Pacific automotive telematics market is forecasted to reach US$ 15.24 Bn, according to Future Market Insights’ research report, “Automotive Telematics Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014-2020.

Although FMI maintains a positive outlook on the Asia Pacific automotive telematics market, a few factors can inhibit its growth during the forecast period. Unlike in the United States where English is spoken by almost entire population, multiple languages are in use in Asia. Telematics providers need to integrate their interface design to accommodate the diversity in language and culture in Asia.

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According to FMI, the fragmented nature of the automotive telematics market can pose challenges to the growth during the forecast period. In Asia, there is no unique mobile communication standard, making telematics integration a difficult proposition.

The key trends analysed in the Asia Pacific automotive telematics market include software platform integration, integration of Android operating system. Software platform is being incorporated as it allows users to control mobile apps with voice controls. Further, use of Android operating system for automotive telematics is slowly gaining momentum.

China is the most lucrative country for automotive telematics market in Asia Pacific, accounting for 45.4% share in 2014. Government initiatives have played an important role in the adoption of telematics by China’s automotive industry. For example, Government of China has made installation of satellite positioning and telematics systems compulsory.

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India telematics is also anticipated to expand steadily over the forecast period 2014-2020. Like China, government support is a key factor for the growth of the telematics market. In 2014, the Government of India allotted US$ 2.4 Bn for improving security network in select cities.

The Japan automotive telematics market, valued at US$ 2,378 Mn in 2014, is anticipated to expand at a CAGR of 11.1% through 2020 and reach a valuation of US$ 4,482 Mn.

On the basis of vehicle type, FMI has segmented the Asia Pacific automotive telematics market into passenger and commercial. Among these two segments, passenger vehicle is dominant, accounting for US$ 6,955.1 Mn in 2014. The passenger vehicle segment type is anticipated to expand at a CAGR of 11% through 2020 and reach a valuation of US$ 13,042.2 Mn.

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The commercial segment of the Asia Pacific automotive telematics market is anticipated to expand at a CAGR of 15.40% during the forecast period and reach a valuation of US$ 2,206 Mn.

On the basis of sales channels, FMI has segmented the Asia Pacific automotive telematics market into OEMs and aftermarket. OEMs are the preferred sales channel in the APAC automotive telematics market currently, accounting for US$ 5,761.6 Mn in 2014. FMI estimates this sales channel to expand at a CAGR of 13.2% during the forecast period and reach a valuation of US$ 12,119.8 Mn. The aftermarket sales channel is expected to expand at a CAGR of 6.7% during the forecast period and reach a valuation of US$ 3,128 Mn by 2020.

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On the basis of technology, the segments of APAC automotive telematics market include embedded, tethered, and smartphone. Embedded telematics account for the largest share in the APAC automotive telematics market, accounting for US$ 6,030.2 Mn in 2014.

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