The automotive telematics market is poised to grow by 65.76 million units during 2020-2024 says the report of Technavio on basis of up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is highly fragmented, and the degree of fragmentation will decelerate during the forecast period. Agero Inc., Airbiquity Inc., Continental AG, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, TomTom International BV, Trimble Inc., Verizon Communications Inc., and Visteon Corp. are some of the major market participants. The popularity of EVs will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Popularity of EVs has been instrumental in driving the growth of the market.
Automotive Telematics Market 2020-2024: Segmentation
Automotive Telematics Market is segmented as below:
- Commercial Vehicles
- Passenger Cars
- Smartphone Integration
- Geographic Landscape
- North America
- South America
The report identifies the presence of a conducive technology environment as one of the prime reasons driving the automotive telematics market growth during the next few years.