Telematics in automotive is an interdisciplinary field that includes vehicular technologies namely road safety, road transport, sensors, multimedia, and telecommunications. In layman’s terms, telematics is a piece of technology of sending, receiving, and storing information using telecommunication devices. Telematics has many applications in automotive including mobile data, auto insurance, vehicle tracking, container tracking, fleet management, intelligent vehicle technologies, an emergency warning system for the vehicle, car sharing, satellite navigation, etc. Systems such as automatic driving systems, driving assistance systems, vehicular emergency warning systems, APAC positioning system (GPS) navigation, and wireless safety communication have been created by an automotive telematics system.
The APAC automotive telematics market was valued for US$ 17,080.4 Mn in 2021 is expected to exhibit a CAGR of 14.2% during the forecast period.
Recent Developments:
In June 2021, Masternau, a leading fleet management services and solutions supplier, Michelin Group Company announced the launch of new Move Electric solution with the aim to support the management of company fleets as they transition from internal combustion engines(ICE) to Electric Vehicle(EVs)
Restraint:
Availability of substitute products is expected to hamper the APAC automotive telematics market growth during the forecast period
Rising popularity of GPS-enabled smartphones is expected to restrict growth of the market in the near future. Smartphones provide an alternative telematics device since many functionalities of telematics can be activated on smartphone by installing relevant software applications. Thus, availability of product substitutes is expected to hamper the APAC automotive telematics market growth during the forecast period.
High cost associated with telematics is expected to restrain the APAC automotive telematics market growth over the forecast period
Telematics hardware is significantly expensive and thus reduces its penetration in the commercial vehicle segment, especially small and medium vehicle. Moreover, large transport companies already have in-place fleet management systems and could be unwilling to invest further in telematics solutions, especially in regions facing adverse economic climate.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 17,080.4 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 14.2 % | 2030 Value Projection: | US$ 55,615.1 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Denso Corporation, Panasonic Corporation, Clarion, Masternaut Limited, Continental AG, Qualcomm Technologies, Inc. LG Electronics, Harman International Industries, Inc., Trimble Inc., and I.D. Systems |
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| Growth Drivers: |
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| Restraints & Challenges: |
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APAC Automotive Telematics Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic has adversely affected the APAC Automotive telematics Market. Remote vehicle diagnostics are widely used to identify mechanical or electrical problems in the vehicle, which are then automatically transmitted to the manufacturer service organization. Due to the pandemic, remote vehicle diagnostics faced financial crises due to which many new projects were suspended which directly impacted the sales of the automotive telematics used in detecting defects in vehicles. Hence, the APAC automotive telematics Market witnessed slow growth during the pandemic.
China held a dominant position in the APAC automotive telematics Market in 2021
Statistics:
China country dominated the APAC automotive telematics market in 2021, accounting for a 47.2% share in terms of value, followed by Japan, South Korea, India, ASEAN and Oceania respectively.
Figure 1: APAC Automotive telematics Market Share (%), By Country, 2021
Common people in the Asia Pacific are embracing advanced technology and gadgets such as wearable, smartphones, laptops, tablets, telecommunications and other devices. This is an emerging trend in the region and is expected to continue during the forecast period.
Road and telecom infrastructure by governments is expected to drive the growth of the APAC automotive telematics market during the forecast period
Many countries around the world have realized the importance of robust road and telecom infrastructure since both of these parameters are directly connected to the economy of the country.
Figure 2: the APAC Automotive telematics Market (US$ Mn) Analysis and Forecast, 2022 - 2030
The APAC Automotive telematics Market was valued at US$ 17,080.4 Mn in 2021 and is expected to reach US$ 55,615.1 Mn by 2030, growing at a CAGR of 14.2% between 2022 and 2030.
Major players operating in the APAC automotive telematics market are Denso Corporation, Panasonic Corporation, Clarion, Masternaut Limited, Continental AG, Qualcomm Technologies, Inc. LG Electronics, Harman International Industries, Inc., Trimble Inc., and I.D. Systems
Telematics in automotive is an interdisciplinary field that includes vehicular technologies namely road safety, road transport, sensors, multimedia, and telecommunications. In other words, telematics is a piece of technology of sending, receiving, and storing information using telecommunication devices. Telematics has many applications in automotive including mobile data, auto insurance, vehicle tracking, container tracking, fleet management, intelligent vehicle technologies, an emergency warning system for the vehicle, car sharing, satellite navigation, etc. Automotive telematics uses telecommunications integrated with informatics for application in vehicles and to control vehicles on the move. Moreover, GPS technology is integrated with computers and mobile communication technology in automotive navigation systems. Systems such as automatic driving systems, driving assistance systems, vehicular emergency warning systems, APAC positioning system (GPS) navigation, and wireless safety communication have been created by an automotive telematics system.
The APAC Automotive Telematics Market was valued for US$ 17,080.4 Mn in 2021.
Market Dynamics
Increasing investments in road and telecom infrastructure by governments is expected to drive growth of the APAC automotive telematics market during the forecast period. Countries across the world are investing in road and telecom infrastructure as these parameters are directly impacting the country’s economy.
However, rising popularity of GPS-enabled smartphones is expected to restrict growth of the market in the near future. Smartphones provide an alternative telematics device since many functionalities of telematics can be activated on smartphone by installing relevant software applications. Thus, availability of product substitutes is expected to hamper the APAC automotive telematics market growth during the forecast period. For environmental accountability that are being enforced to ensure safety operational
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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