The leading analysts and researchers at Reports and Insights compiled and outlined the assessment of the influence of recommendations on market operations and exercises. The research comprises data driven by the market’s historical and present circumstances, as well as other elements impacting the market’s development process. It comprises the leading-age and up-to-date information on the global Automotive Embedded Telematics Market outlook. The evaluation goes into information about revenue forecasts, volume, demand, growth, share, kinds, applications, and sales, among other things. The research analyzes a range of critical restrictions, comprising manufacturing capacity, item pricing, profit and loss figures, and distribution approaches.
The global automotive embedded telematics market in 2022 is estimated for more than US$ 12.7 Bn and expected to reach a value of US$ 53.3 Bn by 2030 with a significant CAGR of 19.7%.
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Automotive Embedded Telematics Introduction
The automotive industry is constantly observing challenges and continues to make dynamic changes to be in the running in the global market, which in turn drives them to technologically advance the vehicles, conclusively developing the automotive embedded with telematics across the world.
Telematics is a wide term that may be enforced to a broad extent of automotive connectivity solutions. The telematics integrated with the automobiles connect informatics and telecommunication to offer several different services, such as safety and security, as well as navigation, to vehicles. On top of that, the major purpose of the automotive embedded telematics is container tracking, vehicle tracking, car sharing, trailer tracking, emergency warning systems for vehicles and many more. Such benefits further stimulates the demand of automotive embedded telematics among the population in the global market.
Automotive Embedded Telematics Market Dynamics
The surging demand of technological advancements in vehicles among the population as well as advancing standard of living of the population all across the world has been one of the major drivers, propelling the growth of the automotive embedded telematics market. Along with that, the rising need of fleet management in the present-day world is also expected to give a breakthrough to the growth of the automotive embedded telematics market during the forecast period.
More essentially, the upsurge in the awareness for road safety among several governments all across the world has compelled them to introduce several policies, regulations, and initiatives in order to elevate the use of telematics in the automotive industry. Owing to which, the global automotive embedded telematics market is expected to witness significant accelerated growth in the coming years.
By the same token, the market is witnessing huge demand of advanced gadgets such as smartphones, tablets, laptops, telecommunications and various other products, both in developing and developed regions across the world in recent past years, which is also playing a positive role in fueling the growth of the global automotive embedded telematics market in the coming years.
Furthermore, the automotive embedded telematics provides features such as emergency systems and safety communications, GPS navigation, automatic driver assistance, and many other advanced features, which resultantly stimulates its demand further in the global market. Attributing to which, the global automotive embedded telematics market is expected to progress swiftly in the upcoming years.
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Automotive Embedded Telematics Market Segmentation
The automotive embedded telematics market is segmented on the basis of component, vehicle type, solutions, and region.
By Vehicle Type
Heavy Commercial Vehicle
Light Commercial Vehicle
Safety & Security
Information & Navigation
Automotive Embedded Telematics Market Key Players
Some of the key participating players in automotive embedded telematics market are:
- Teletrac Navman Group
- Masternaut Limited
- Digicore Technologies
- TomTom Telematics BV
- Trimble Inc.
- MiX Telematics
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