Telematics Is Fastest Growing Segment Fueling Growth Of APAC Automotive Telematics Market

https://www.coherentmarketinsights.com/market-insight/apac-automotive-telematics-market-3654
APAC Automotive Telematics Market



Market Overview:

Automotive telematics is a combination of wireless communication and telecommunication integrated with automotive electronics to improve safety, enhance vehicle fuel efficiency, and provide real-time data of vehicles. It also enables fleet management services through satellite navigation, DSRC, and diagnostics.

Market key trends:

The emergence and growth of connected vehicles is a notable trend in the APAC automotive telematics market. Connected car technologies such as wireless networks and embedded/integrated telematics systems facilitates connectivity between vehicles and enables features like remote diagnostics, vehicle maintenance, navigation, emergency calling, and driver assistance. This, in turn, is bringing more comfort into mobility experience while enhancing safety and productivity. For example, Denso Corporation offers an integrated telematics control unit for commercial vehicles which gathers vehicle and driver data and sends it to the cloud for data analytics and insights to fleet managers.

The global APAC Automotive Telematics Market is estimated to be valued at US$ 22,275.64 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

The APAC automotive telematics market is segmented by vehicle type, application, connectivity solution, and communication technology. By vehicle type, the passenger cars segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is due to the increasing adoption of advanced connectivity features in passenger cars, driving the need for reliable telematics systems.

Key Takeaways

The global APAC Automotive Telematics Market Share is expected to witness high growth, exhibiting CAGR of 14% over the forecast period, due to increasing concerns towards road safety and growing demand for connected vehicles.

Regional analysis
Regionally, China held the largest share in the APAC automotive telematics market in 2023 and is projected to grow at a significant rate during the forecast period. This is attributed to presence of prominent automotive manufacturers and rapid adoption of advanced connected vehicle systems in the country.

Key players
Key players operating in the APAC automotive telematics market are Denso Corporation, Panasonic Corporation, Clarion, Masternaut Limited, Continental AG, Qualcomm Technologies, Inc. LG Electronics, Harman International Industries, Inc., Trimble Inc., and I.D. Systems. These players are focusing on developing innovative telematics solutions and establishing partnerships with automotive OEMs to strengthen their presence in the market.

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