Press Release: March 26, 2020
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$ 13,644.7 Mn in 2019 is expected to exhibit a CAGR of 14.8% % during the forecast period.
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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. For instance, In December 2019, a statement given by Telecom minister of government of India, India by 2022 India will install 10 lacks mobile towers from currently available 5.65 Lakhs. Moreover, in China, from 2013–2017, the total expenditure for LTE wireless infrastructure is expected to amount to US$ 26.9 Bn. Thus, these factors are expected to drive the APAC automotive telematics market growth during the forecast period.
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.
APAC Automotive telematics Market, By Technology:
APAC Automotive telematics Market, By Vehicle type:
APAC Automotive telematics Market, By Application
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Key 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.
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