The Global Aftermarket Vehicle Telematics Hardware Market 4th Edition

Telematics is a broad term that may be applied to a wide range of vehicle connectivity solutions.Berg Insight’s definition of a telematics system in this report is an automatic system designed forpassenger cars and commercial vehicles that incorporates some form of cellular/GNSS or RFcommunications technology. All of the world’s leading carmakers have now launched mass-market connectivity services in key regions. The OEM initiatives can be seen as competition foraftermarket solutions, but there is still a growing demand for different forms of aftermarkettelematics services. The addressable market for aftermarket telematics solutions is significant.At the end of 2024, an estimated 1.6 billion vehicles were registered worldwide. Berg Insight hasfound that 51.2 million aftermarket telematics hardware devices were sold globally during 2024for a total market value of approximately € 2.4 billion. Europe, North America and China were thelargest markets, achieving shipments of about 12.2 million, 11.7 million and 10.6 million in 2024.Berg Insight forecasts that global shipments of aftermarket telematics devices will grow at acompound annual growth rate (CAGR) of 8.6 percent in the next five years to reach 77.5 millionin 2029. Revenues from sales of aftermarket telematics devices are forecasted to grow from €2.4 billion in 2024 to €3.5 billion in 2029, representing a CAGR of 7.6 percent.

The leading telematics hardware vendors generally have an international market focus and offerproducts for both passenger cars and commercial vehicle applications. These players often havea number of distribution channels, ranging from direct sales to end-users to indirect sales viafleet management and other aftermarket telematics service providers, system integrators orOEMs. Direct sales remain a principal distribution model to larger clients, while indirect channelsare common for distributing solutions to smaller clients. Partnering with resellers is furthermorecommon when solution providers expand to new geographical markets.

Teltonika was the market leader in terms of aftermarket vehicle telematics hardware sales with amarket share of about 7.1 percent, reaching annual sales of € 170 million in 2024. Jimi IoT wasthe runner-up with a market share of 4.9 percent. Additional top players include Queclink, Xirgoand BSJ Technology. Queclink ranked third in terms of sales with a market share of about 2.9percent while Xirgo and BSJ technology ranked fourth and fifth with market shares of roughly2.3 percent and 2.2 percent respectively. Notable vendors further include ERM AdvancedTelematics from Israel; CalAmp, Positioning Universal and Danlaw from North America; STSUNLAB, Gosuncn RichLink, TOPFLYtech, Neoway Technology, Coban Electronics, Sinotrack,iTriangle, GoSafe, Sinocastel and ATrack from Asia-Pacific; and Ruptela from Europe.

Some telematics service providers are vertically integrated companies with activities spanninghardware design, software development, marketing, sales, project implementation and systemoperation. Contract manufacturers are commonly used as opposed to in-house production.Examples of vertically integrated companies include Geotab, Webfleet and Samsara in the fleetmanagement market. Leading aftermarket telematics service providers in the aftermarket dealerand vehicle finance space that design and develop telematics hardware in-house include ProconAnalytics, Spireon, Vodafone Automotive and PassTime GPS.