The ecosystem of the global automotive telematics market encompasses a vast network of interconnected entities and processes working in tandem to deliver cutting-edge telematics solutions to end consumers.

The suppliers provide a spectrum of components critical for telematics systems. These range from GPS modules, sensors, and processors to connectivity modules sourced from various electronic component manufacturers worldwide. Simultaneously, software providers contribute with innovative solutions, including telematics platforms, analytics software, and user interfaces, essential for harnessing the data collected by these systems. Additionally, connectivity providers such as telecommunication companies play a pivotal role by offering data plans and services for seamless telematics data transmission.

Rising Automotive Sales and Production Globally

Automotive telematics is the combination of several hardware and software solutions, including GPS systems, onboard vehicle diagnostics, wireless telematic devices, and other solutions used to transmit the record and vehicle's data. Telematic devices control several parameters, such as location, speed, maintenance requirements, and services. Automotive telematics is a system of monitoring vehicles such as cars, automotive equipment, trucks, and other assets with the help of GPS technologies. Increasing automotive sales and production with built-in advanced telematics systems across the globe is driving market growth. According to the European Automobile Manufacturers Association Report, in 2022, ~85.4 million vehicles were produced globally, an increase of 5.7% compared to 2021. The major automotive manufacturing countries are the US, China, Japan, and Germany. Automotive manufacturers use connectivity options, including automotive telematic solutions and software, to create a connected vehicle. Carmakers use a combination of GPS devices, accelerometers, gyroscopes, and connected solutions to meet customer requirements for the vehicles.

The top global automotive telematics market players included Verizon Communications Inc., Geotab Inc., Omnitracs, TomTom International BV, and Harman International in 2022. The ranking of these companies is derived by giving weightage to the following key performance parameters: overall revenue, segment revenue, geographical reach, customer base, new product launches, market initiatives, investment in technology up-gradation, R&D investments, mergers & acquisitions, and other market-related activities. Various other notable automotive telematics market players profiled in this report are Samsara Inc., Lytx Inc., Denso Corp, and Valeo etc.

Key Findings of Market Study:

In North America, the US has highly adopted automotive telematics solutions. This can be attributed to the rising demand for luxury and connected cars with the growing consumer disposable income in the country. The US accounted for a significant share of automotive manufacturing in 2020, with growing sales and production of vehicles in the country. The light commercial vehicle adjusted annualized sales in July 2023 was ~15.90 million units, an increase from 13.47 million units in 2022. The US is the second largest automotive market globally for selling and producing vehicles and their components. Foreign manufacturers of automobiles in the US produce more than 5 million vehicles yearly. The automotive industry includes original equipment manufacturers and auto components producers. The automotive telematics system includes various vehicle telematics devices, tracking devices that facilitate the storage and transmission of telemetry data, and the vehicle's onboard modem and vehicle diagnostics devices.

The automotive telematics market in Mexico is growing moderately due to rising vehicle production and increasing government initiatives to promote manufacturing. According to the OICA, the total vehicle production in Mexico reached ~3.5 million units in 2022, an increase of 12.9% compared to the previous year. The automotive industry in Mexico is growing rapidly due to the rising investment by original vehicle manufacturers and increasing government support and initiatives. In 2020, the FDI in Mexico for automotive parts manufacturing reached approximately US$ 1.11 billion and is snowballing owing to the rise in automobile demand.

Contact Us

Contact Person: Sameer Joshi

Phone: +1-646-491-9876

Email Id: sales@premiummarketinsights.com