Global Consumer Telematics Market is Expected to Reach $26.18 Billion by 2020

Date: 2015-06-11

Global Consumer Telematics Market (Type, Application, End User and Geography) – Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 – 2020″”, the global consumer telematics market is expected to reach $26.18 billion by 2020, growing at an estimated CAGR of 33.7% during the forecast period (2014-2020). The study includes an analysis of drivers, restraints, opportunities and competition in the key geographies, which include North America, Europe, APAC and LAMEA.Insurance telematics, is the highest revenue-generating solution, contributing about 27% of the total consumer telematics solutions market revenue driven by the growing insurance sector. This is followed by infotainment and navigation and location-based telematics solution. In certain economies like Brazil and China, the government legislations mandate the adoption of telematics in vehicles, given the rising concern of vehicle tracking and safety and security; thereby driving the demand for telematics solutions in these regions.

Consumer telematics industry has established from customary navigation services to advanced navigation services used for vehicle tracking, monitoring, location-based services and traffic and weather information. The report segments the market by type viz., automotive OEM and aftermarket. The aftermarket type generates the maximum revenue and is expected to remain the largest revenue generator, contributing to over 55% of the total market revenue throughout the forecast period (2014-2020). On the other hand, the automotive OEM is expected to increase due to growing alliance between telematics service providers and device manufacturers. Amongst end users, Car (rental and owned) segment held the second-largest share in the total market size by revenue in 2013. The consumer telematics market is also expected to observe increased adoption from sectors such as healthcare and media and entertainment.

Insurance telematics is one of the most prominent solutions available in the market. It led the market with a share of almost 27% of the global consumer telematics market, followed by infotainment and navigation telematics solution, and is expected to remain dominant throughout the forecast period
Asia-Pacific as well as LAMEA is expected to be the most lucrative markets, in terms of growth, owing to the supportive government regulations and the growing automotive market

The report also outlines the competitive environment of the consumer telematics market, providing a comprehensive comparative study of the key strategies adopted by the market leaders to grow and gain a competitive edge. Along with product launches, alliance and partnership are key strategies practiced to gain a higher market share. Companies such as AT&T, Harman and TomTom have partnered with different industry players to gain access to the market and technologies. Prominent companies profiled in the report include Verizon, Harman, TomTom, AT&T, Vodafone, Ford Motors, BMW, Telefonica, Mix Telematics and Trimble Navigation Ltd.”

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