What is the current size and annual growth rate of the automotive telematics market?
The automotive telematics market size has grown exponentially in recent years. It will grow from $164.09 billion in 2024 to $209.6 billion in 2025 at a compound annual growth rate (CAGR) of 27.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in vehicle ownership, increased occurrences of vehicle theft, and high adoption of connected cars.
The automotive telematics market size is expected to see exponential growth in the next few years. It will grow to $547.51 billion in 2029 at a compound annual growth rate (CAGR) of 27.1%. The growth in the forecast period can be attributed to rising demand for electric vehicles (EV), supportive government regulations, and increasing concerns about vehicle safety. Major trends in the forecast period include the use of artificial intelligence (AI), product innovations, collaborations and acquisitions, new technology development, telematics-based insurance, use of cloud technology and adoption of self-installed telematics devices.
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Which major factors have contributed to the expansion of the automotive telematics market?
An increase in car accidents is contributing to the growth of the automotive telematics market going forward. Car accidents also referred to as car collisions or accidents with a car that involve a collision with another vehicle or stationary objects, automobile telematics reduces accidents by providing real-time feedback to drivers. Major car manufacturers are now installing automotive telematics to keep vehicles and drivers safe. For instance, in February 2023, according to a report published by Statistisches Bundesamt, a Germany-based federal statistical authority, approximately 21,600 individuals were injured in road traffic in 2023, an increase of around 900 injuries, or 5%, compared to 2022. Additionally, the number of fatalities in traffic accidents rose by 13, totaling 167 in February 2023. Therefore, the increase in car accidents is driving the growth of the automotive telematics market.
How is the automotive telematics market segmented?
The automotive telematics market covered in this report is segmented –
1) By Connectivity Solutions Type: Embedded, Integrated, Tethered
2) By Vehicle Type: Commercial Vehicles, Passenger Vehicles
3) By Application Type: Fleet Or Asset Management, Navigation And Location-Based System, Infotainment System, Insurance Telematic, Safety And Security, Other Applications
4) By Sales Channel Type: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Embedded: Integrated Telematics Control Units (TCUs), Built-In Communication Modules
2) By Integrated: OEM Integrated Systems, Multi-Function Devices
3) By Tethered: Smartphone-Based Telematics, Portable Devices And Dongles
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Who are the top competitors in the automotive telematics market?
Major companies operating in the automotive telematics market include Samsung Electronics Co., Ltd, Robert Bosch GmbH, Michelin Group, Valeo Group, TomTom N.V., Vontier, Trimble Inc., Continental AG, NavInfo Co. Ltd, Ficosa International SA, Mahindra Truck and Bus (MTB), Mitsubishi Fuso Truck, Hyundai, Geely Lynk & Co, Shenzhen Eelink Communication Technology Co., Ltd, 22 DOTS, TruckTrack GmbH, INTRANAV, FLEETIZE – Telematics, Exatrek, Visualix, Trackee.io, IoT Venture GmbH, In Car Telematics, Masternaut, Teletrac Navman, Verizon Connect, Movolytics, QUARTIX, Vodafone Fleet Telematics, RAM Tracking, Samsara, OCTO Automotive, MiX Telematics, Telematika, Kazan Telematics, TrackGPS, Mapon, Intellishift, Linxup, Damoov, Cambridge Telematics, ISAAC Instruments, Frotcom, Argus Telematics, Iveco, Autotrac, Mercedes-Benz, Omnilink, Volkswagen, Teltonika Telematics, Location Solutions Telematics LCC, Norconsult Telematics, FMS Tech, Advanced Telematics Solutions, Ctrack Matrix
Which key trends are expected to influence the automotive telematics market in the coming years?
Major companies operating in the automotive telematics market are adopting a strategic partnership approach to enhance technology integration and expand market reach. A strategic partnership typically refers to a collaborative relationship between two or more organizations, where they combine their resources, expertise, and efforts to achieve common goals or objectives. For instance, in May 2023, Admiral Group plc, a UK-based financial services company, partnered with Ford Smart Mobility, a US-based mobility services investing company, and Redtail Telematics, a UK-based manufacturer of customized telematics products, to launch a connected car telematics product. This product allows eligible Ford vehicle owners to share driving data collected from their cars through the FordPass app. Customers can authorize data sharing via their in-vehicle screen, enabling a more tailored and cost-effective insurance experience.
Which regional trends are influencing the automotive telematics market, and which area dominates the industry?
The countries covered in the automotive telematics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Automotive Telematics Market Report 2025 Offer?
The automotive telematics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Automotive telematics refers to fleet monitoring or global positioning system vehicle tracking and is an important management tool for many commercial and government fleets. This system helps to collect information regarding parameters such as speed, fuel consumption, low tire pressure and it is used to track automobiles, trucks, equipment, and other assets and plot their movements on a computerized map.
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