Market Size – USD 97.62 Billion in 2021, Market Growth – at a CAGR of 26.2%

NEW YORK CITY, NEW YORK, USA, November 11, 2022 /EINPresswire.com/ -- The global vehicle telematics market size is expected to reach USD 779.98 Billion in 2030 and register a revenue CAGR of 26.2% over the forecast period, according to the latest report by Reports and Data. Increased market penetration of smartphones, availability of high-speed internet technologies such as LTE, decreasing connectivity costs, and increased governmental mandates in terms of safety compliance mandates, road infrastructure constraints, and driver monitoring are some key factors expected to drive market growth over the forecast period. Vehicle telematics systems, composed of telecommunication and informatics, provide crucial information for drivers, such as information about live traffic status and weather forecasts. It is automotive monitoring system that empowers drivers to stay updated with real-time performance and safety of vehicle. Information collected by telematics system is beneficial in critical circumstances, for instance, to communicate instantaneously with police or respective authorities for prompt actions in case of an accident. Safety and security services of automotive telematics comprise automatic crash notification, emergency, and medical assistance, which is anticipated to stimulate market growth during the forecast period. As a component of automated crash notification service, telematics control unit (TCU) monitors several crash sensors of automotive and in occurrence of a crash it directs the details of the vehicular location and crashes intensity as well as sends a voice call to call center so that emergency facilities are dispatched to accident spot.

Legislative norms and regulations are being introduced by governments across the globe pertaining to increased usage of these technologies in automotive industry to improve road safety. These government initiatives are expected to fuel market growth during the forecast period. It is playing an instrumental role in assisting fleet managers in operating their commercial vehicles. This technology enhances safety and efficiency of logistics and transportation service providers. Vehicle-to-Everything (V2X) is a communications technology that enables a connected car to connect to other IoT devices that may have an influence on automotive. V2X technology allows a car to exchange data with other cars, toll road collection points, smart traffic lights, and third-party products and services.

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Top Profiled in the Vehicle Telematics Market Report:
• Robert Bosch GmbH
• Continental AG
• OnStar Corporation
• AirIQ Inc
• Agero
• Qualcomm Incorporated
• ETAS Group
• Zonar Systems
• Omnitracs
• Bridgestone Mobility Solutions B.V

Market Segmentation:
Service Outlook (Revenue, USD Billion; 2019-2030)
• Fleet Management
• Navigation & Location-based System
• Driver Management
• Insurance Telematics
• Safety & Security
• V2X Solutions
• Infotainment System
• Others

Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)
• Passenger Vehicles
• Commercial Vehicles

Sales Channel Outlook (Revenue, USD Billion; 2019-2030)
• Original Equipment Manufacturer (OEM)
• Aftermarket

Technology Outlook (Revenue, USD Billion; 2019-2030)
• Embedded
• Tethered
• Integrated

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Key Takeaways of the Vehicle Telematics Market Report:
• A comprehensive overview of the global Vehicle Telematics industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the Vehicle Telematics Market.
• Elaborate study of the leading regional markets in the Vehicle Telematics Market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.

Key Regional Markets Covered in the Report:
• North America
o U.S.
o Canada
o Mexico

• Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Latin America
o Brazil
o Rest of Latin America

• Middle East & Africa
o Saudi Arabia
o U.A.E.
o Israel
o Rest of Middle East & Africa

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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