The telematics market is anticipated to show a lucrative growth at a CAGR of around 17% during the forecast period 2020-2026. The telematics industry includes devices, software, and services to collect and transmit data on vehicle use, maintenance requirements, and automotive servicing. It is widely used to coordinate vehicle to manage the fitness, profitability, and productivity of a vehicle and the entire fleet. In a vehicle telematics system, a tracking device installed that allows the sending, receiving, and storing of telemetry data. The device is used to collect GPS data along with other vehicle-specific data and transmits it via different methods which include GPRS (General Packet Radio Service), cellular network, or satellite communication to a centralized server. The centralized server interprets the data and displays it to the end-users via websites and mobile applications.
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High adoption of the telematics system for fleet management is one of the major factors for the growth of the market. It is used for vehicle tracking, trailer and asset tracking for the predictive maintenance, safety tracking, and insurance risk assessment due to its various advantages. The advantages of the telematics include a decrease in fuel cost, improved safety, elevated productivity, with overall better payroll management. With the introduction of 5G technologies and the increasing trend of the connected vehicle, telematics will find enormous opportunity in the near future. Besides, it is also expected to find a significant application in the autonomous vehicle for add-on service and safety operations. However, the mature automotive market and decreasing automotive sales are one of the major restraining factors for the market. Besides, due to COVID-19, an economic slowdown is expected which will further decrease the passenger and commercial vehicle demand all across the globe.
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Market Segmentation
Global Telematics Market by Type
• Hardware
• Software & Services
Global Telematics Market by Sales Channel
• OEM
• Aftermarket
Global Telematics Market by Connectivity Solution
• Embedded Solution
• Integrated Solution
• Tethered Solution
Global Telematics Market by Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
• Other
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• Actsoft, Inc.
• Agero Inc.
• BSM Technologies Inc.
• CalAmp Corp.
• Daimler AG
• Cisco Systems, Inc.
• Geotab Inc.
• Masternaut Ltd.
• Mix Telematics Ltd.
• HERE Global B.V.
• Octo Group S.p.A
• Omnitracs, LLC
• OnStar Corp.
• ORBCOMM Inc.
• Tantalum Corp.
• Telit IoT Platforms, LLC
• Tomtom International BV
• Trimble Inc.
• WirelessCar AB
• Verizon Wireless Inc.
• Wex Inc.
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