The global Telematics Solutions market focuses on encompassing major statistical evidence for the Telematics Solutions industry as it offers our readers a value addition on guiding them in encountering the obstacles surrounding the market. A comprehensive addition of several factors such as global distribution, manufacturers, market size, and market factors that affect the global contributions are reported in the study. In addition the Telematics Solutions study also shifts its attention with an in-depth competitive landscape, defined growth opportunities, market share coupled with product type and applications, key companies responsible for the production, and utilized strategies are also marked.
Telematics is the joining of two sciences such as telecommunications, a branch of technology including cables and phone lines, and informatics such as computer systems. Today, the term is usually used in reference to the telematics solutions utilized in commercial fleet vehicles. The telematics technology integrates the information flowing to and from the vehicles through wireless networks to offer smart automation and to enrich the overall driving experience in the automotive industry. Furthermore, telematics enhances the driver’s and traveler’s experience by efficient management of information and it enables to provide more safety and security, improved navigation, and more personalized traveling experience. The potential of telematics solutions is huge, and it is in the stage of evolution now and expected to gain huge prominence during the projected period.
What's Trending in Market:
The Rise in Trend of Connectivity Solutions
Challenges:
Lack of a Standardized System
Restraints:
Increased Communication, Leading to Security and Privacy Concern
Market Growth Drivers:
Rising Demand for Smartphones Supplements the Adoption of Telematics Solutions and Services
Growing Government Mandate for Deploying Vehicle Tracking in Commercial Vehicles
The Rising Demand for Driver and Vehicle Safety
The study encompasses a variety of analytical resources such as SWOT analysis and Porters Five Forces analysis coupled with primary and secondary research methodologies. It covers all the bases surrounding the Telematics Solutions industry as it explores the competitive nature of the market complete with a regional analysis.
Some Point of Table of Content:
Chapter One: Report Overview
Chapter Two: Global Market Growth Trends
Chapter Three: Value Chain of Telematics Solutions Market
Chapter Four: Players Profiles
Chapter Five: Global Telematics Solutions Market Analysis by Regions
Chapter Six: North America Telematics Solutions Market Analysis by Countries
Chapter Seven: Europe Telematics Solutions Market Analysis by Countries
Chapter Eight: Asia-Pacific Telematics Solutions Market Analysis by Countries
Chapter Nine: Middle East and Africa Telematics Solutions Market Analysis by Countries
Chapter Ten: South America Telematics Solutions Market Analysis by Countries
Chapter Eleven: Global Telematics Solutions Market Segment by Types
Chapter Twelve: Global Telematics Solutions Market Segment by Applications
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According to the new market research report "Telematics Solutions Market by Service (ACN, eCall, RSA, Remote Diagnostics, Insurance Risk Assessment, Driver Behavior, Billing & Other), Form & Vehicle Type, Component, Connectivity, Aftermarket, Fleet Management Service, Region - Global Forecast to 2025" The Telematics Solutions Market is projected to reach USD 62.6 billion by 2025 from an estimated USD 29.9 billion in 2020 at a CAGR of 15.9% during the forecast period.The Telematics Solutions Market growth is governed by the increasing trend of in-vehicle connectivity solutions and government initiatives towards developments in intelligent transportation systems & connected cars.
The market growth is also supported by the continual improvement in network infrastructure along with increasing technology acceptance among the consumers.
Therefore, the Telematics Solutions Market is expected to witness significant growth in the future.Browse in-depth TOC on "Telematics Solutions Market"130 – Tables20 – Figures180 – PagesThe Global Telematics Solutions Market is dominated by major players such as Robert Bosch GmbH (Germany), AT INC. (US), Continental AG (Germany), LG Electronics (South Korea), and Verizon (US).Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=245073008Fleet Management Market is expected to grow at the fastest CAGR by service segment.Fleet Management market is driven by the continuous increase in the demand for logistics and transport.
Fleet management also helps in higher efficiency, consistent performances, and ultimately reduced costs.
For instance, the installation of telematics systems and satellite positioning in commercial vehicles has been made mandatory by the Chinese government.
In 2017, the Chinese Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) issued a draft to establish national standards for China’s Intelligent & Connected Vehicles (ICV).
Investing in a GPS fleet asset tracking monitoring or Video Intelligence system, would be a wise move to help cut your overall insurance costs.
According to an article which appeared in the September edition of Business Fleet Magazine, most businesses are seeing a significant savings either 10-15% or more off their commercial vehicle insurance if they integrate a fleet asset management system into their everyday fleet activities.
When drivers know they can pick up deliveries on time, they will tend to actually take those deliveries instead of making last-minute excuses or taking risky, but costly, alternatives like shortcuts or passing up the opportunity to get the job done right.
This can reduce insurance costs by as much as fifteen percent, not to mention saving the company money in fueling bills and helping to meet fuel bills.Asset tracking systems are designed for any size and type of business.
With the advent of video intercom systems, fleet managers can view what's going on with each vehicle in real time.Vehicle tracking systems have revolutionized how fleets are managed.
The old style was to write down vehicle data in journals, keep them in file cabinets, secure them inside of vehicles only accessible by authorized staff members, and then go from office to check on them.
Owing to emergence of Industry 4.0, wherein all industries are profusely driven by technology and powerful economic substance sweeping into the automotive sector, owing to heavy demand for vehicles, there is a discernible surge in the telematics solutions market size.
The amalgamation of GPS tracker devices, the Internet, and other in-vehicle technologies have become inevitably important, especially because of the torrential demand for integration of smartphones with vehicles.
Furthermore, telematics enables insights pertaining to on-board diagnostics of the vehicles that include informations such as speed of the car, location, and internal behavior of the engine through the engine control module, which also allows the user to identify service requirement.
This aspect is highly backed by corporate social responsibilities (CSR), pertaining to the environment, which is making it important for organizations to adopt fuel-saving technologies such as telematics.The upcoming years are poised to witness the growth of the autonomous and semi-autonomous vehicles segment of the automotive industry, due to which market players will experience some lucrative opportunities to increase their telematics solutions market share.
Also, telematics solutions market size is increasing, owing to necessity to reduce the number of accidents, as the technology extracts the greatest possible safety from the vehicles.
Telematics solutions are also useful in tracing a lost or stolen car.Apart from that, logistics companies are always looking to increase their efficiency through optimum fleet management, and telematics solutions help in coordinating work vehicles which results in improved efficiency and reduced cost.In 2018, the telematics solutions market size was evaluated at $18.98 billion, and it is projected to increase at a CAGR of 14.95%, during the forecast period 2019-2025, according to the telematics solutions market report.This report provides detailed information about the telematics solutions market size by type and applications along with the detailed profiling of telematics solutions market share by top 5 companies and startups that are striving to rise ahead of the curve in this niche industry.North America Subjugated the Industry with High Telematics Solutions Market Share of 33.67% in 2018:The contemporary technological regime in North American countries such as the U.S., Mexico, and Canada is creating revenue scope for a gamut of technology-based markets, and so is the case with the booming telematics solutions market, which is further bolstered by propitious prominence of autonomous vehicles in the lucrative marketplace of the region.The telematics solutions market scope in North America in 2018 can be further gauged by high production of vehicles in major markets of the U.S., Mexico, and Canada.Table 1 – Production of Vehicles in North American CountriesSr.
