Global Automotive Telematics System Market - Growth, Trends, and Forecast (2018 - 2023)
Telematics comprise electronic, electromechanical, and electromagnetic devices — usually silicon micro-machined components operating in conjunction with computer controlled devices and radio transceivers to provide precision repeatability functions. The market is primarily driven by technological improvements aimed at enhancing the overall in-vehicle experience of passengers and also bringing about a greater degree of interaction within and among the vehicles. In addition, the market is also driven by strict safety norms, increased safety awareness, and affordability to adopt telematics systems. The market is hindered by the high costs involved in installing the entire telematics infrastructure in the vehicle.
The automotive telematics market is expected to grow at a high rate up to and beyond 2023. Equipping the new vehicles with e-Call as a mandate from the EC has also helped to expand the telematics market in Europe. The region is also home to a number of automotive telematics hardware suppliers in Germany, UK, and Italy. Japan, the US, Mexico, Canada, South Korea, Thailand, and BRIC countries also present huge potential, primarily due to the stringent safety regulations (like the NCAP program administered by the Department of Transportation’s National Highway Traffic Safety Administration (NHTSA)).
Safety constitutes the major segment in the services offered by automotive telematics. Wireless vehicle safety communications telematics majorly aid in car safety and road safety. The electronic sub-system in a car is used for the purpose of exchanging safety information about road hazards, and the location and speed of vehicles. In addition to wireless local area networks, emergency warning systems telematics are also developed, like collision warning for international harmonization and standardization of vehicle-to-vehicle, infrastructure-to-vehicle, and vehicle-to-infrastructure to provide real-time short-range communication systems. Information from telematics is also extensively used in car-sharing and also for auto insurance purposes.
February 2018: ERM Advanced Telematics expanded its products and services portfolio to OEMs
Major Players: AGERO INC., AIRBIQUITY INC. , CONTINENTAL AG, VERIZON COMMUNICATIONS INC. , VISTEON CORPORATION , AERIS, ANTENNA COMPANY, DIGITAL MATTER, FLEETMATICS, GEOTAB, HUBIO, amongst others.
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