Consumer Telematics Market

Global Consumer Telematics Market Size (2024 to 2029)

The global consumer telematics market is predicted to reach USD 32.98 billion in 2024 and USD 106.99 billion in 2029, growing at a CAGR of 26.54 % during the forecast period.

Telematics is a device used to transfer large amounts of information from one vehicle to the infrastructure of another. It monitors the vehicle using a GPS that records and maps the exact location of the vehicle, which also provides information about the speed. Telematics can also help provide information on vehicle management, such as the maintenance schedule, fuel monitoring and seat belt monitoring. Consumer telematics is segmented according to the fleet management system, improves driver safety and increases efficiency by providing delays on the road that help drivers redirect and save time and deliver products on time, which will also increase job satisfaction by better controlling daily routes, thereby reducing operating costs. The sensors send an alert message to the driver if there is a problem in the engine and other diagnostic issues. Consumer telematics is a technology and communication service that allows large amounts of data to transfer in and out of passenger vehicles in real time. This provides consumers with on-board services, global positioning system (GPS) navigation, traffic information, local search (for example, at gas stations or restaurants) and concierge services.

Current Scenario of the Global Consumer Telematics Market

The global consumer telematics market is expected to grow over the forecast period due to the increasing demand for big data analytics and related services. Communication technologies and services that allow the transfer of large volumes of data in passenger vehicles in real time are called consumer telematics. Suppliers focus on consumer safety through superior vehicle tracking products and services.

MARKET DRIVERS

The global consumer telematics market is stimulated by the significant penetration of smartphones, the growing demand for a superior driving experience, lower connectivity costs, high-speed Internet technologies and favorable government regulations.

For example, in some regions such as Brazil and China, government legislation requires everyone to adopt telematics in vehicles, given the growing concern related to vehicle tracking and safety, which stimulates demand for telematic solutions for consumers in these regions. The increasing demand for Big Data analysis and related services is also an essential factor that influences market growth. The proliferation of cloud-based services to provide a personalized experience to the end-user is even foreseen to have a positive impact on market demand.

Fleet management evolves its advantages from technological progress. The next addition to fleet management includes aviation safety (OTA) and vehicle control, called drones. To increase truck safety, many countries have required eCall regulations which aim to set up a device in the vehicle that will automatically dial the safety number in the event of a traffic accident and will be coordinated with the services of local emergency. This eCall will reduce emergency response times by 40% in urban areas and by 50% in rural areas.

The large truck mirrors have been replaced by a system of cameras and digital displays that will improve driver safety. This system includes several individually wired cameras which protect against malfunctions. The images appear on digital screens mounted on the interior pillars on both sides of the windshield and in the center of where a mirror is usually located, as well as on the dashboard. The camera lenses are heated to protect against ice and frost. They also have a special coating that resists moisture. The new launch of the voice assistant allows users to control the temperature of the vehicle, and analyze the driver's needs according to the route and behavior to automatically exploit the music and navigation in the vehicle.

MARKET RESTRAINTS

The increase in piracy activity, the high cost of consumer telematics equipment and poor Internet connectivity in developing economies is expected to diminish market growth. The field of consumer telematics has subtly changed the nature of various industries. Car maintenance and extensive data enabled by telematics have improved customer service offerings. Telematics is likely to play a vital role in the future of the connected car market, as it will help the car manufacturer generate revenue over the life of the vehicle rather than at the time of sale.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Consumer Telematics Market Analysis Based on type

The global consumer telematics market has been bifurcated as OEM aftermarket. Comparatively, the aftermarket segment accounts for higher revenue than its counterpart, which is predicted to change in the coming years.

Global Consumer Telematics Market Analysis By application

The global consumer telematics market is separated into solutions and services. The solutions segment is further divided into fleet management, navigation and location, infotainment, telehealth, remote alarming and monitoring, V2V and V2I, and others. 

REGIONAL ANALYSIS

In the coming years, Asia-Pacific is foreseen to become a leading automotive market in the future, which will boost the consumer telematics market in the region. The increase in sales is primarily due to the rise in population and the increase in disposable income. LAMEA consumer telematics market is also predicted to grow at a prominent pace, due to increasing government regulations for vehicles, as well as driver safety.

KEY PARTICIPANTS IN THE GLOBAL CONSUMER TELEMATICS MARKET

Companies such as STMicroelectronics, Littelfuse Inc., Robert Bosch GmbH, Continental AG, Delphi Technologies, Analog Devices Inc., NXP Semiconductors, Sensata Technologies Inc., Infineon Technologies AG, Denso Corporation, Autoliv Inc., Texas Instruments Incorporated, Hitachi Automotive Systems Americas Inc., Maxim Integrated, GMS Instruments BV and Broadcom are playing a key role in the consumer telematics market.

DETAILED SEGMENTATION OF THE GLOBAL CONSUMER TELEMATICS MARKET INCLUDED IN THIS REPORT

This report on the global consumer telematics market has been segmented and sub-segmented based on the type, application, end user, and region.

By Type

• OEM
• Aftermarket

By application

• Solutions
• Services

By End-User

• Automotive
• Insurance
• Healthcare
• Media & Entertainment
• Vehicle Dealers
• Government Agents

By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus