Global consumer telematics market is valued $16.6 billion in the year 2017 and is anticipated to grow with a CAGR of 26.54% from the year 2018 to 2023

Published By: IndustryARC Published On : 06-Sep-2019
According to the new market research report by IndustryARC titled “

Consumer Telematics Market By Vehicle Type (Truck, Semi-Trailer, Motor Coach, Taxicab, Trailers & Others); By Components (Communication, Sensors, Control Unit, Audio/Video); By Services (Safety & Security, Navigation, Others); By Geography – Forecast (2018-2023)

” the market will be driven by increased sales of automobiles.

Browse 39 Market Tables, 175 Figures spread through 185 slides and an in-depth TOC on “

Consumer Telematics Market

 (2018 - 2023)


The Americas to dominate the Consumer Telematics Market:


Americas will dominate the Consumer Telematics Market due to the extensive research and development activities taking place in the region. 
Asia Pacific is the second biggest market for telematics owing to the growth of the fleet management market in China. 

Selected Regulatory Analysis Done in the Full Report:


The Insurance Telematics segment will dominate the Consumer Telematics Market in the coming years. This is followed by the Infotainment, navigation, and location based telematics solutions. These segments are expected to generate huge revenues in the future. Media and entertainment and healthcare sectors are also expected to adopt consumer telematics. 

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Selected Driving Factors Mentioned in the Full Report:


Government initiatives will drive the growth of the consumer telematics market. In Europe and America, for instance, the governments have been offering tax credits for telematics customers in the fleet insurance and management sectors. 
Advanced technologies will reduce the production costs of telematics products during the forecast period, thereby driving the growth of the telematics industry. 
The automotive industry has witnessed an increase in the number of unit sales even while recovering from recession. This factor indicates that there will be no dearth of demand for telematics solutions in the near future. 
 Government regulations for higher security measures and growing amplified market penetration of smartphones will propel the consumer telematics market.       

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Key Players of the Consumer Telematics Market: 

 
General Motors, BMW, Ford MotorCorp., and Harman Infotainment are the key players of the Consumer Telematics Market. General Motors makes sure that your fleet operates at optimal efficiency with fleet telematics. It also provides a customizable and detailed report on the vehicles in the fleet. BMW, which is one of the leading automobile manufacturers in the world, has expanded its consumer telematics market by adding ConnectedDrive and Assist
Services. Ford Motors provides SYNC, a telematic device which is embedded in cars. Harman Infotainment provides infotainment devices with different features to the automotive OEMs.  (Original Equipment Manufacturers) 


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