Authored By: Sarah
29 Oct 2023

Billion -Dollar Automotive Telematics Market to exhibit growth at a CAGR of 18.34 % through 2023-2027  

According to the market research by Technavio, the Automotive Telematics Market is a billion-dollar sector in the making and is expected to grow by USD 91.86 Bn accelerate at a CAGR of  18.34% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. 

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Snapshot of the Automotive Telematics Market Analysis


Navigating through the growth drivers of the Automotive Telematics Market it has been observed that the Automotive telematics services are gaining prominence in the automotive market due to increased demand for vehicle tracking and navigation services. 

Increasing infrastructural support from governments and regulatory mandates is expected to drive the growth of the global automotive telematics market especially in emerging economies like India and China are developing regional navigation systems - the Indian Regional Navigation Satellite System in India and Beidou in China - to support telematics service providers and reduce dependency on US GPS

Leading names such as Agero Inc., Airbiquity Inc., BorgWarner Inc., Continental AG, Garmin Ltd., General Motors Co., LG Corp., Masternaut Ltd., OCTO Telematics S.p.A, Panasonic Holdings Corp., Qualcomm Inc., Robert Bosch GmbH, Solera Holdings LLC, TomTom NV, Trimble Inc., Verizon Communications Inc., Visteon Corp., Volkswagen AG, MiX Telematics Ltd., and Teletrac Navman US Ltd. are some of the major market participants and are contributing significantly to the market advancement.

Technavio has been monitoring the Automotive Telematics  Market's growth trajectory, the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking along detailed profiling of the market leaders. Request for our best-selling sample report to discover more about this sector.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 18.34%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by USD 91.86 billion through 2023-2027.

     
  3. What is a key factor driving this market?
    The growing popularity of EVs will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, APAC, Europe, South America, and Middle East, and Africa are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    35% growth will originate from APAC

     
  6. What are the market segments covered in this report?
    The market is segmented by Distribution Channel (OEM and Aftermarket ), Application (Passenger cars and Commercial vehicles ), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)
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