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Automotive Telematics Market: Transforming Fleet Management

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The Global Automotive Telematics Market is expected to advance with a CAGR of 16.06% during the forecast period 2023 to 2030. Request a Free Sample Report – PowerPoint PPT presentation

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Title: Automotive Telematics Market: Transforming Fleet Management


1
Automotive Telematics Market Transforming Fleet
Management
As per the European Automobile Manufacturers
Association, around 79.1 million motor vehicles
were produced globally in 2021. Also, logistics
services have witnessed substantial growth
globally, spearheaded by the e-commerce industry.
These developments have paved the path for
telematics solutions, especially in fleet
management, offering real-time data on driving
styles and vehicular movement. According to
Tritons estimates, the global automotive
telematics market is set to garner 435.88
billion by 2030, progressing with a CAGR of
16.06 during the forecast years 2023-2030. With
the integration of sensors and cameras, vehicles
have emerged as mobile data centers generating a
high volume of data. From documenting in-vehicle
infotainment choices to navigation routes,
telematics has redefined the automotive industry
since its inception. And the advent of smart city
initiatives has fueled smart mobility programs
for real-time traffic management, systematic
emission control, and predictive parking systems.
Automotive Telematics A One-Stop Solution for
Fleet Management With surged competition and
growing cost pressures, fleet managers and
proprietors require data insights to streamline
operations. In this regard, telematics fleet
systems significantly help reduce fuel costs
(almost 10) while also decreasing downtime with
preventive maintenance. Here, onboard
diagnostics-based telematics offers well-timed
system alerts by capturing the vehicles
location, speed, mileage, etc. Tritons analysis
portrays that fleet or asset management leads the
studied market in terms of application with
34.78 in 2022, closely followed by safety
security.
2
  • Moreover, with the rise of software-as-a-service
    (SaaS), telematics systems have gained popularity
    among small businesses to optimize their fleet
    with features like route planning to maintenance
    scheduling. Several small as well as large fleet
    owners are opting for two-wheelers integrated
    with vehicle telematics due to affordability and
    convenience. Our research indicates that the
    two-wheeler category is predicted to witness the
    fastest growth at a CAGR of 18.38 during the
    forecast period 2023-2030 in the vehicle segment,
    surpassing passenger and commercial categories.
  • Embedded telematics type, expected to observe the
    fastest growth at CAGR 15.58, is another trend
    that has upgraded fleet operations. This system
    provides autonomous driver assistance, GPS- based
    navigation, emergency solutions, etc., enabling
    vehicles to transmit stored data via the
    internet. For instance, in Feb 2023, Wejo
    announced partnering with Mercedes-Benz
    Connectivity Services to offer customized
    connected vehicle data to participating
    cloud-connected fleet vehicles in Europe. This
    will enable fleet managers to utilize data
    straight from embedded OEM hardware and support
    fleet services.
  • In a press release, Benoit Joly, Chief Commercial
    Officer at Wejo, said, With Mercedes-Benz
    Connectivity Services, we can deliver TSPs and
    FMS companies more data-driven, enhanced fleet
    management insights for their fleet customers and
    help improve safety and drive efficiencies on the
    roadways.
  • China An emerging leader in the Asia-Pacific
    market
  • China continues to host the worlds largest
    vehicle market in terms of annual sales and
    manufacturing output. In recent years,
    third-party logistics providers have surged their
    long-term capacity and digital capabilities. In
    this regard, the establishment of China Logistics
    Group, a merger of five-stated owned companies,
    redefined the logistics industry operations,
    creating a high demand for advanced solutions
    like telematics to mitigate risks associated with
    freight movement. Such developments are thus
    likely to drive the Asia-Pacific automotive
    telematics market with a CAGR of 17.11 during
    2023-2030.
  • Connectivity Demand Drives Strategic
    Contributions
  • Competition among players differs in terms of
    price, data security, and product quality. The
    race to provide a broad application of telematics
    to customers has resulted in various strategic
    steps, from partnerships to launches.
  • Listed below are some of the latest steps by
    players to expand their footing
  • In February 2023, Qualcomm introduced Snapdragon
    Auto 5G Modern-RF Gen 2 at Mobile World Congress,
    adding to its growing Snapdragon Digital Chassis
    connected car portfolio.
  • In January 2023, Uplight partnered with Rolling
    Energy Resources (RER) to develop an EV grid edge
    solution to manage grid load with the help of
    telematics.
  • Also, in January 2023, Lighting eMotors launched
    the Fleet Planner to enable managers to receive
    a customized operating cost analysis and carbon
    reduction metrics.
  • Walmart, in July 2022, collaborated with Platform
    Science to equip the retailers truck fleet with
    telematics devices.

3
Technological Advancements Prompt Growth
Opportunities for OEMs Rapid innovation in
telematics and interface design enables better
driving experiences while benefiting the entire
automotive ecosystem. In this regard, telematics
systems integrated with cutting-edge technologies
like AI, machine learning, and voice assistance
assist OEMs in significantly reducing costs and
cycle times in the latest models. These steps to
differentiate product lines hold the potential to
widen the scope of the smart fleet management
market. Aligning with this, the rising
technological advancements to shorten production
time via real-time performance statistics of
vital components creates opportunities for the
automotive telematics market. FAQ Q1) What is
the size of the automotive telematics market? In
2022, the global automotive telematics market
obtained revenue worth 121.12 billion and is
expected to reap 435.88 billion by 2030. Q2)
Which are the key types integrated into
telematics devices? Embedded, integrated
smartphones, and tethered are key types
integrated into telematics devices.
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