Global Motor Racing Telematics Market Size study & Forecast, by Type (Motor Racing Telematics (MRT), Remote Location System) By Application (IoT Platform, M2M) and Regional Analysis, 2023-2030

Global Motor Racing Telematics Market Size study & Forecast, by Type (Motor Racing Telematics (MRT), Remote Location System) By Application (IoT Platform, M2M) and Regional Analysis, 2023-2030

Global Motor Racing Telematics Market is valued approximately at USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030. Motor Racing Telematics devices installed in the racing vehicle collect a wide range of data in real-time. This data includes information about the vehicle's speed, engine performance, tire pressure, fuel consumption, temperature, and other relevant parameters. The Motor Racing Telematics market is expanding because of factors such as increasing number of connected cars and rising demand for embedded auto telematics. Motor Racing Telematics is crucial for making tactical decisions during the race. Teams can adjust strategies, pit stops, and other factors based on real-time data to gain a competitive advantage. As a result, the demand of Motor Racing Telematics has progressively increased in the international market during the forecast period 2023-2030.

Connected cars often integrate with emerging technologies such as artificial intelligence (AI) and machine learning. These technologies can enhance the capabilities of Motor Racing Telematics by providing predictive analytics and more advanced performance optimization algorithms. According to the Statista, the global connected automobile market accounts USD 65 billion in 2021, and anticipated to reach around USD 121 billion by the year 2025. Another important factor driving the Motor Racing Telematics market is increasing demand for embedded auto telematics. Embedded auto telematics systems are designed to provide accurate and precise data about various vehicle parameters. This high level of data accuracy is crucial in motor racing, where even minor details can make a significant difference. Racing teams can leverage this precise data for real-time monitoring, performance analysis, and strategic decision-making during races. In addition, as per Statista, in 2020, there were around 130 million integrated automobile OEM telematics units in operation around the world and is projected to reach up to 375 million by the year 2026. Moreover, rising trend of green and hybrid vehicles and increased disposable income is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, high cost of motor racing telematics equipment and data security issues in telematics systems is going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Motor Racing Telematics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the rising disposable income and growing investments in motorsports in the region. Higher investments in motorsports stimulate technological innovation and competition among racing teams and manufacturers. Racing teams strive to gain a competitive edge through advanced technologies, including Motor Racing Telematics, to improve vehicle performance and strategic decision-making. The region’s dominant performance is anticipated to propel the overall demand of Motor Racing Telematics. Furthermore, Asia Pacific region is expected to grow with the fastest CAGR during the forecast period, owing to factors such as rising demand for hybrid vehicles in the region. Teams can adjust their approach based on real-time information about energy levels, predicting when to switch between the combustion engine and electric power, optimizing the use of available energy reserves, and planning strategic pit stops.

Major market player included in this report are:
Bynx Inc
AT&T Inc
Connexis, LLC
Agero, Inc
Continental AG
Ericsson AB
Airbiquity Inc
Fleetmatics Group PLC
Visteon Corporation
Verizon Telematics Inc

Recent Developments in the Market:
 In September 2023, Airbiquity, collaborates with Tessolve, a leading hardware platform company for silicon and system productization in a variety of markets, including automotive, motorcycles, scooters, industrial IoT, semiconductor, avionics, and defence. The two firms have pre-connected Airbiquity's OTAmatic software management platform and LOGmatic data recording platform with Tessolve's TERA family of devices, providing industry-leading complex application gateways that can be quickly integrated into cars. Either firm’s solutions accessible in tandem significantly decreases the complexity, cost, and time required for original equipment manufacturers (OEMs) to analyse, create, and deploy advanced connected vehicles that feature full-vehicle OTA software updates and flexible data logging. Airbiquity's OTAmatic software management platform securely orchestrates and automates software update campaigns while addressing the automotive industry's specific and severe criteria. Airbiquity's LOGmatic data logging platform is an easy-to-integrate and adaptable product that enables safe, customisable, dynamic data logging and transfer with ECU protection and minimal resource utilisation.

Global Motor Racing Telematics Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Type, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type
Motor Racing Telematics (MRT)
Remote Location System

By Application
IoT Platform
M2M

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Bynx Inc
AT&T Inc
Connexis, LLC
Agero, Inc
Continental AG
Ericsson AB
Airbiquity Inc
Fleetmatics Group PLC
Visteon Corporation
Verizon Telematics Inc

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.