ESOMAR-certified consulting firm Future Market Insights (FMI) has recently published a report on the global APAC automotive telematics market for the forecast period 2021-2031. According to the report, the market is expected to post impressive gains, expanding at a CAGR of over 9% throughout the forecast period. Increasing production of passenger and commercial vehicles are spurring demand.
While the outbreak of the COVID-19 pandemic took a toll on the automotive industry, the recovery that started in last quarter of 2020 and increased production of commercial as well as passenger vehicles bolstered the growth of automotive telematics market.
With the increasing adoption of embedded systems in the commercial vehicles due to the government regulatory policies across Japan, China and India, the market is expected to witness significant gains over the coming years.
The latest revised edition of the report on automatic telematics market study by FMI forecasts a valuation surpassing a billion dollar mark through 2021. Trends such as software platform integration, adoption of cloud based technology, and integration of android operating systems are accelerating the demand of automotive telematics market across Asia Pacific. .
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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
“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.
Key Segments Covered
- South Korea
- Oceania (Australia and the Rest of Oceania)
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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.
In April 2021, Airbiquity, a global leader in connected vehicle services announced the expansion of a multi-year technology collaboration with NXP Semiconductors to pre-integrate and demonstrate efficient and highly scalable automotive software updates and data management for intelligent connected vehicles.
Also, another leading company, Harman International, a wholly-owned subsidiary of Samsung Electronics Co. Ltd., focused on connected technologies for automotive, consumer and enterprise markets, announced the launch of new future-proof telematics solution. The HARMAN 5G-ready Telecommunications Control Unit (TCU) enables the scalable mobile network connectivity for connected cars using either the current 4G network infrastructure or the faster 5G network.
Some of the prominent manufacturers profiled by FMI includes 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.
More Insights on the Global APAC Automotive Telematics Market
In its latest study, Future Market Insights gives a detailed insight on the global APAC automotive telematics market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of vehicle type (commercial and passenger), technology type (embedded, tethered, and integrated/smartphone), channel type (original equipment manufacturers (OEM) and aftermarket), end use (infotainment, navigation, safety, and diagnostics) and region (India, China, South Korea, Japan, ASEAN and Oceania).
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The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.