Discover trends, market shifts, and competitive outlooks for the automotive telematics industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

#What Are the Key Milestones in the Automotive Telematics Market’s Growth Trajectory From 2025 To 2034?

In recent times, the size of the automotive telematics market has experienced a massive expansion. The market, which is expected to be valued at $164.09 billion in 2024, is projected to reach $209.6 billion in 2025, growing at a compound annual growth rate (CAGR) of 27.7%. This significant growth during the historic period is a result of robust economic progress in developing markets, an increase in car ownership, a rise in the number of car theft incidents, and a high uptake of connected cars.

Anticipated to experience substantial growth in the coming years, the automotive telematics market size is projected to expand to $547.51 billion by 2029, at a Compound Annual Growth Rate (CAGR) of 27.1%. The expansion during the projected period can be ascribed to factors such as the escalating demand for electric vehicles (EVs), favorable governmental regulations and growing anxieties about vehicle safety. Other significant trends expected to shape the market during this period include the employment of artificial intelligence (AI), breakthrough product innovations, strategic collaborations and acquisitions, development of novel technology, insurance based on telematics, the utilization of cloud technology, and the increasing adoption of self-installed telematics devices.

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What Are the Core Growth Drivers Propelling the Automotive Telematics Market Forward?

The surge in car accidents is fuelling the expansion of the automotive telematics market. Car mishaps, also known as car collisions, or incidents involving a car hitting another vehicle or stationary items, are minimized by automobile telematics through providing real-time feedback to drivers. Key car manufacturers are incorporating automotive telematics to ensure the safety of both vehicles and drivers. For example, in February 2023, a report by Statistisches Bundesamt, a statistical authority based in Germany, indicated that about 21,600 people were injured in road accidents in 2023, marking an increase of approximately 900 injuries or 5% compared to 2022. Moreover, traffic accident fatalities increased by 13, reaching 167 in February 2023. Hence, the rise in car accidents is propelling the automotive telematics market’s growth.

What Segment Types Define the Automotive Telematics Market Structure?

The automotive telematics market covered in this report is segmented –

1) By Connectivity Solutions Type: Embedded, Integrated, Tethered

2) By Vehicle Type: Commercial Vehicles, Passenger Vehicles

3) By Application Type: Fleet Or Asset Management, Navigation And Location-Based System, Infotainment System, Insurance Telematic, Safety And Security, Other Applications

4) By Sales Channel Type: Original Equipment Manufacturer (OEM), Aftermarket

Subsegments:

1) By Embedded: Integrated Telematics Control Units (TCUs), Built-In Communication Modules

2) By Integrated: OEM Integrated Systems, Multi-Function Devices

3) By Tethered: Smartphone-Based Telematics, Portable Devices And Dongles

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Which Geographic Areas Hold the Strongest Growth Potential in the Automotive Telematics Market?

North America was the largest region in the automotive telematics market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which Emerging Trends that Are Influencing theAutomotive Telematics Industry Evolution?

Leading firms in the automotive telematics market are opting for strategic partnerships to strengthen their technological capabilities and broaden their market presence. Strategic partnerships generally imply a cooperative agreement between multiple organizations, pooling their resources, knowledge, and endeavors towards pursuing shared goals or objectives. For example, in May 2023, the UK’s Admiral Group Plc, which offers financial services, formed alliances with Ford Smart Mobility, an American mobility services investment firm, and Redtail Telematics, a UK-based producer of custom telematics solutions, to introduce a connected car telematics product. This product enables qualifying Ford car owners to relay the driving data gathered from their vehicles via the FordPass app. Clients can grant permission for data sharing through their in-car display, thereby paving the way for a more personalized and economical insurance experience.

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What Is the Definition of the Automotive Telematics Market?

Automotive telematics refers to fleet monitoring or global positioning system vehicle tracking and is an important management tool for many commercial and government fleets. This system helps to collect information regarding parameters such as speed, fuel consumption, low tire pressure and it is used to track automobiles, trucks, equipment, and other assets and plot their movements on a computerized map.

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