One of the driving forces for the telematics solutions market is the increasing technological advancement and consumer demand for new technologies.
LUTON, Bedfordshire, UK, March 17, 2023 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and advisory arm of Ameliorate Digital Consultancy Private Limited, has completed and published the final copy of the detailed research report on the Telematics Solutions Market.
The telematics solutions market is expected to grow at a CAGR of 15% from 2023 to 2029. It is expected to reach over $138.25 billion by 2029, up from $39.3 billion in 2022.
Market growth for telematics solutions in the coming years
The telematics solutions are a method of monitoring a vehicle’s position and movement by integrating GPS and on-board diagnostics. With the help of GPS and diagnostic systems, the speed and internal behavior of the car can be recorded. Telematics systems are mainly used by car insurance companies, fleet management companies, etc. to monitor vehicle location and behavior, help customers keep their vehicles safer, avoid losses and contact roadside assistance. The global market is also being driven by technological advances focused on improving the overall in-vehicle experience for occupants and enabling more interactivity within and between other vehicles. Additionally, the market is likely to be driven by increased safety awareness, stricter vehicle safety standards, and affordability of vehicle telematics system features.
The global telematics solutions market is showing a significant growth rate during the forecast period.
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Growth Drivers->
The growth of the telematics industry has been driven by a number of factors including: new technologies and software, new regulations and standards, and new business models.
The growth drivers of telematics solutions include: rising demand for connected and automated transportation, growing consumer demand for driverless cars with limited attention demands, and the need for affordable self-driving technology. The market for telematics solutions is structurally growing due to an increasing number of drivers such as dynamic pricing, the demand for better customer services and response times. The increasing penetration of electronic business solutions has also led to an expected increase in demand for these types of solutions.
The story goes on
Telematics solutions are growing fast because, essentially, telematics is about the next generation of connected cars. Telematics solution providers may provide their services by collecting data from in-vehicle telemetry systems and wireless connectivity devices, or from other sensors that may be installed in cars, such as: B. GPS tracking devices or dashboard cameras. The data is then stored in a database where it can be analyzed and used for various purposes, including optimizing fuel economy and vehicle safety while driving.
Market trends for telematics solutions
The trends of 2023 and beyond are all about connectivity. As the Internet of Things (IoT) continues to advance, automakers are investing heavily in developing fully connected vehicles that can interact with each other and their environment.
2023 transportation trends will be characterized by increasing use of autonomous vehicles, a shift from private cars to shared modes of transport, and increasing demand for ride-sharing services.
In 2023, more than ever, consumers are looking for ways to save time and money. Telematics Solutions combines the latest technology with our expertise to provide a seamless solution that helps you meet your expectations. With the advent of new technologies and vehicles, we have an opportunity to improve everyone’s life by using our telematics solutions and advanced GPS technology to coordinate services and resources.
competitive insight
Some of the notable market players operating in the global Telematics Solutions Market covered in this report are:
Recent Developments
In March 2022, SRM Tech and Zonar will partner to extend telematics-enabled insights to more fleets. The partnership will add AI and predictive analytics capabilities to light-duty fleet telematics, enabling actionable data analytics for improved vehicle availability and higher aftermarket parts sales.
In March 2022, Phillips Connect made several announcements to help fleets and drivers benefit from smarter trailers, including new smart nosebox gateways, reversing cameras and a partnership with Utility to introduce the Utility Connect trailer telematics system.
In July 2022, Mahindra partners with Qualcomm, Visteon for connected car experiences.
Browse the complete “Telematics Solutions Market” by vehicle type (passenger, light commercial, heavy commercial), by form type (tethered, embedded, integrated), by application (government, fleet/asset management, infotainment system navigation and location – based system, Safety & Security, Insurance Telematics, V2X, Other) and Region, Global Trends and Forecasts from 2023 to 2029” Report and TOC at https://exactitudeconsultancy.com/reports/13566/telematics-solutions-market/
Segment overview
The telematics solutions market is segmented by vehicle type, application, and region.
By vehicle type
By form type
through application
Tethered
Embedded
Integrated
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Regional Insights
Higher market growth is expected for the Asia-Pacific region during the forecast period.
The largest emerging market is expected to be in Asia-Pacific, which dominated the entire market with a 38.5% share of sales in 2021 amid rising safety and health concerns. These are the key factors that contribute greatly to the economic growth of vehicle telematics solutions market in China, India and Southeast Asia.
Quantitative Analysis
Market Size, Estimates and Forecasts from 2023 to 2029
Market size and revenue estimates for products up to 2029
Estimates of market revenue for the application until 2029
Market revenue estimates for Type through 2029
Regional market size and forecast to 2029
company financially
What are the Key Data covered in this Telematics Solutions Market Report?
CAGR of the market over the forecast period 2023-2029
Detailed information on factors that will propel the growth of Telematics Solutions Market over the next six years
Accurately estimate the market size of telematics solutions and their contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior.
The growth of the telematics solutions industry in North America, Europe, APAC, South America, the Middle East and Africa
A thorough analysis of the competitive landscape of the market and detailed information about vendors
Comprehensive details of factors challenging the growth of the Telematics Solutions market providers
For Additional Revised List of Market Players for 2023 Request Sample Report: https://exactitudeconsultancy.com/reports/13566/telematics-solutions-market/#request-a-sample
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