Automotive OEM Telematics Market to Reach $321,297.22 million Globally by 2032, and is expected to grow at 15.1% CAGR: Allied Market Research

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Dec 06, 2023, 06:30 ET

The integration of real-time fleet monitoring systems in vehicles, ease in integration of vehicle diagnosis, and rise in trend of connectivity solutions drive the growth of the global Automotive OEM Telematics Market.

PORTLAND, Ore, Dec. 6, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive OEM Telematics Market by Offering (Hardware and Software & Services), Vehicle Type (Passenger Vehicle and Commercial Vehicle), and Application (Infotainment & Navigation, Fleet Management, Safety & Security, and Diagnostics): Global Opportunity Analysis and Industry Forecast, 2023–2032. According to the report, the global automotive OEM telematics industry size generated $88,084.14 million in 2022, and is anticipated to generate $321,297.22 million by 2032, witnessing a CAGR of 15.1% from 2023 to 2032.

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118 - Tables
71 - Charts
276 - Pages

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Prime determinants of growth

The global automotive OEM telematics market has experienced significant growth and transformation, driven by a combination of economic expansion, increased infrastructure development, the integration of real-time fleet monitoring systems into vehicles, the ease of integration of vehicle diagnostics and the growth of connectivity solutions. Intelligent traffic system, better driver and vehicle safety offer significant opportunities for market expansion.

Report Coverage and Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$88,084.14 million
Market Size in 2032	$321,297.22 million
CAGR	15.1 %
No. of Pages in Report	xx
Segments Covered	Offering, Vehicle Type, Application, and Region.
Drivers	Integration of real-time fleet monitoring systems in vehicles. Ease in integration of vehicle diagnosis. Rise in trend of connectivity solutions.
Opportunities	Intelligent transportation system. Better driver and vehicle safety.
Restraints	High installation cost. Lack of uninterrupted & seamless internet connectivity.

The hardware segment to maintain its leadership status throughout the forecast period

By offering, the hardware segment held the highest market share in 2022, and the highest CAGR of 15.3% is estimated to maintain its leadership status throughout the forecast period 2023 to 2032, das it reduces the amount of space needed and increases component modularity. However, the software and services segment are projected to obvious a CAGR of 14.5% from 2023 to 2032. Most of the OEM telematics software are sold as contracts at a monthly price. Optimized data arrives from the centralized server to the fleet management software. The data is visualized and translated into the user interface that fleet operators can easily understand which is increasing the software and services requirement.

The passenger vehicles segment to maintain its leadership status throughout the forecast period

By vehicle type, the passenger vehicles segment held the highest market share in 2022 due to the factors such as growth in sales majorly in the developing countries such as China and India, increase the demand for passenger vehicles. In addition, the development of logistics infrastructure also fuels the demand for commercial vehicles, which in turn increases the demand for automotive telematics solutions. The fleet management is an important feature in commercial vehicles due to which companies are primarily focusing on providing convenience and safety to the drivers due to which it is about to grow with a CAGR of 15.8% during the forecast period. The GPS-fleet tracking system provides great control of individual business needs, thereby driving the adoption of commercial telematics in transportation & logistics.

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The infotainment and navigation segment to maintain its lead position during the forecast period

By application, the infotainment and navigation segment accounted for the largest share in 2022 and is estimated to maintain its leadership status in 2032, owing to increasing efficiency and productivity in businesses related to the fleet of vehicles. The increase in production and demand for the smart fleet management solutions remote fleet management, location-based solution, infotainment, and auto insurance due to benefits in time savings with the effective system operation are expected to create a demand for OEM telematics in the forecast period. However, the fleer management segment is expected to portray the largest CAGR of 15.7% from 2023 to 2032, due to the increased sale of connected cars, autonomous vehicles in developed countries and rise in infrastructural development coupled with governments strong funding.

North America to maintain its dominance by 2032

By region, North America held the highest market share in terms of revenue in 2022 and is estimated to maintain its leadership in 2032, owing to rise in need to manage fleet in a more efficient way, technological advancements, and increase in concerns over safety of vehicle & driver. Increased demand for smart fleet management systems, smart technologies, government initiatives, and advent & integration of IoT & information, communication, & technology particularly into automobiles are the factors responsible for the market growth. Increase in demand for smart transportation and concern of users toward environments are the major growth factors of the North American market. Investment in emerging areas of smart cities and innovation in fleet management in different transportation modes are expected to provide lucrative opportunities for the automotive telematics market.

Key Highlights of the Report:

The automotive OEM telematics market study spans across 14 countries, providing regional and segment analysis for each country in terms of value ($million) over the projected period of 2023-2032.
Integrating high-quality data, professional insights, and critical independent perspectives, the study employs a research approach aimed at offering a well-rounded view of global markets. The intention is to assist stakeholders in making informed decisions to achieve their ambitious growth objectives.
The research involved a comprehensive review of over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants, enhancing understanding of the market dynamics.

Key Developments:

Leading companies are implementing various strategies, including acquisition, agreement, expansion, partnership, contracts, and product launches, to fortify their market positions.
In January 2020, Samsung collaborated with BMW to introduce the first 5G Telematics Control Unit (TCU) in the market. The BMW iNEXT became the world's first automobile equipped with 5G technology from HARMAN and Samsung.

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Leading Market Players: -

Continental AG
MARUTI SUZUKI INDIA LIMITED
Verizon
BMW AG
Toyota Motor Corporation
Renault Group
Mercedes-Benz Group
Ford Motor Company
Nissan Motor Co. Ltd.
General Motors

The report provides a detailed analysis of these key players in the global automotive OEM telematics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Similar Reports We Have on Telematics Industry:

China, India, Southeast Asia Automotive OEM Telematics Market Research Report 2023-2032

Southeast Asia Automotive OEM Telematics Market Research Report 2023-2032

Connected Trucks Telematics Market Research Report 2023-2032

U.S. Commercial Telematics Market Research Report 2023-2032

Automotive Telematics Market Research Report 2023-2032

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