Global Automotive Telematics Market Trends, Share, Industry Size, Opportunities, Analysis And Forecast To 2024
PUNE, INDIA, April 17, 2018 /EINPresswire.com/ -- WiseGuyReports.com with their unique quality of simplifying the market research study, presents a deep diving study report “Global Automotive Telematics Outlook 2024”
Automotive Telematics
Overview
Automotive telematics is an advanced automated systems designed for the users of automobiles that assimilate cellular communication systems. Automotive OEMs provides connected car services with several connectivity options such as embedded telematics devices, tethered devices and smartphones connectivity. Automobile manufacturers often use a combination of these technologies to meet the requirements of different customers and to keep pace with rapid development in mobile technology.
The global automotive telematics market is anticipated to grow significantly owing to rising number of road accidents and security concerns of user. Government automotive safety norms and regulations favoring the implementation of telematics in commercial and passenger vehicles are also expected to be the major factor behind the positive growth of global automotive telematics market
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Major Players
BMW AG
• General Motors
• FCA Group
• Tesla Motors
• Airbiquity Inc.
• Agero Inc.
• Continental AG
• Verizon
Automotive Telematics Major Outlook
North-America is the mature market in terms of implementation of telematic systems in cars with attach rate of 38% closely followed by Europe with 21%. China is the largest automotive market with its huge domestic automobile market and manufacturing units. China has emerged as high potential market for automotive telematics with attach rate of rate of about 12%. Moreover, major market players such as General motors and BMW are providing automotive telematic solutions in their vehicles, offering telematic technology as standard feature across vehicles models and geography. .
Automotive Telematics - Competitive Analysis
Key players are making innovative developments in Automotive Telematics. The same will help in improving the market performance. Heavy investments are made by major players in the R&D sector
Automotive Telematics – Scope
The global automotive telematics market accounted USD 17.38 billion in 2015 and is anticipated to expand at a compound annual growth rate of 24.2% over the forecast period i.e. 2016 to 2024. The estimated value of automotive telematics market by 2024 will be approximately USD 98.76 billion owing to spiked adoption of telematics systems in automotive.
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