In automotive technology, satellite-based positioning technologies are used to connect telematics solutions via wireless connectivity that enables audio or visual data and drivers to various in-vehicle telematics applications. The automotive telematics market has witnessed a significant growth over the years, owing to increase in trend of connectivity solutions worldwide.
According to a new report published by Trends Market Research, the automotive telematics market is expected to hit $320.6 billion By 2026.
A telematics system offers multiple features such as driver’s emergencies such as roadside assistance, airbag, navigation, vehicle security notification, stolen vehicle tracking services, and others. Hardware in telematics control unit consists of infamous “black box” module that integrates a phone, GPS receiver, digital signal processor and microphone for voice recognition. It also gathers diagnostic information from sensors.
The automotive telematics market is segmented on the basis of channel type, vehicle type, connectivity solutions, application, and region. By channel type, it is bifurcated into OEM and aftermarket. By vehicle type, it is categorized into passenger, commercial vehicles, and two-wheeler. By application, it is classified into fleet/asset management, navigation & location-based system, infotainment system, insurance telematics, safety & security, V2X, others. By connectivity solution, it is divided into embedded, integrated smartphones, and tethered. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players in the report include Masternaut Limited, TomTom Telematics B.V, Trimble Inc., Omnitracs , VERIZON, I.D.Systems, Inc., Airbiquity Inc., Harman International Industries, Inc., MiX Telematics, Teletrac Navman, and CARTRACK.