Future Market Insights (FMI) in its latest report titled, “Asia Pacific Automotive Telematics – Market Analysis and Opportunity Assessment, 2014 – 2020”, states that while the global telematics market will exhibit a single-digit CAGR of 8.8% over the forecast period, and Asia Pacific will outpace this rate to achieve a CAGR of 11.6%. The contribution of the Asia Pacific telematics market to the global share is projected to increase from 26% to 30%, reflecting an increase of 400 BPS over the forecast period.
The Asia Pacific automotive telematics market is driven by factors such as high penetration of technologies, steadily increasing GDP, and the presence of established vendors in the commercial vehicle telematics market. Furthermore, over 42% of the world’s Internet users in Asia (2013), combined with hundreds of millions of 4G users, bode well for the Asia Pacific automotive telematics market.
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FMI lead consultant, Nikhil Kaitwade, says, “Telematics in the automotive industry has become increasingly relevant with a palpable emphasis on safety and security globally. Increased technology adoption and remote vehicle diagnostics are driving the Asia Pacific automotive telematics market.” The three technologies that will propel the Asia Pacific automotive telematics market are: Embedded, tethered, and smartphone technology.
Key Takeaways from FMI’s APAC Automotive Telematics Market Study:
- In terms of vehicle type, passenger vehicles are expected to remain dominant throughout the forecast period
- In terms of technology, embedded systems are expected to be dominant, through 2031
- On the basis of end-user, infotainment segment is anticipated to register a increasing demand through the forecast period
- China is expected to be the most lucrative market of APAC automotive telematics market
By end-user, the safety and security segment is anticipated to dominate the market by 2020 due to increasing consumer focus on automotive safety and security. In addition, the growing prominence of social media in the Asia Pacific region will also contribute to the growth of infotainment segment during the forecast period.
Region-wise, North America dominates the global automotive telematics market, followed by Europe. High penetration of the aforesaid technologies in Asia Pacific combined with saturation of European and North American markets will continue to fuel the growth of the Asia Pacific automotive telematics market over the forecast period.
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Key Highlights from Report:
- Which is the most lucrative region of APAC automotive telematics market?
According to FMI, China is expected to be the most lucrative market over the forecast period of 2021-2031, followed by Japan and India. - Which is the most preferred vehicle type in the APAC automotive telematics market?
As per FMI, passenger vehicles are expected to be the most preferred vehicle type. However, commercial vehicles are anticipated to witness fast growth. - Who is the leading end user in APAC automotive telematics market?
Increasing application in safety & security and infotainment is anticipated to push the sales of automotive telematics. - Who are the leading players operating in APAC automotive telematics market?
Trimble Inc., Visteon Corporation, Airbiquity Inc., Aplicom OY, Scorpion Automotive Limited, iTriangle InfoTech Pvt. Ltd., Minda Corporation Limited, Road Track and Microlise Limited among others are some of the leading players operating in the APAC automotive telematics market
“Increasing adoption of advanced technology and continuous development in the technology are expected to boost the market. Also, surging adoption of embedded systems among the consumers is expected to create wide growth opportunities for market players,” says the FMI analyst.
Competitive Landscape:
Leading manufacturers are adopting artificial intelligence and big data science for new product launches and connected vehicles. Targeted collaborations and partnerships still remains the core strategy for many leading players to maintain a strong foothold in the industry. Some of the market players featured in the report are Trimble Inc., Aplicom OY, Visteon Corporation, Scorpion Automotive Ltd., Airbiquity Inc., Shenzhen Concox Information & Technology Co., Ltd., iTriangle InfoTech Pvt. Ltd., iDem Telematics GmbH, Minda Corporation Limited, ACTIA Group, Road Track, Microlise Limited, Lavinta Buana Sakti, Redtail Telematics Corporation, and BOX Telematics among others.
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Key Segments Covered:
Vehicle Type
- Commercial
- Passenger
Aircraft Type
- Embedded
- Tethered
- Integrated/Smartphone
End Use
- Infotainment
- Safety
- Navigation
- Diagnostics
Channel Type
- OEM
- Aftermarket