Report ID: SQMIG45C2085
Report ID:
SQMIG45C2085 |
Region:
Global |
Published Date: December, 2024
Pages:
173
|
Tables:
116 |
Figures:
72
Asia-Pacific dominated the automotive telematics market in 2023, accounting for more than 56.87% share. Increased consumer demand in emerging economies such as China and India for affordable aftermarket automotive telematics systems may account for this massive market share. The need for telematics solutions is also triggered by increasing urbanization and car ownership in such regions. Government programs that include provisions for increasing internet penetration and other cellular connectivity networks, even in rural areas, will also be the primary driver of growth for the industry. Asia-Pacific will witness further growth in the automotive telematics market as this awareness in customers will help them achieve efficiency and safety.
The automotive telematics market will be able to gain great momentum in North America and is predicted to increase by 20.1%. The growth in this market is mainly due to technology suppliers' focus on developing the currently telematics-enabled passenger car systems. Manufacturers and service providers enhance vehicle performance and connection by innovation and advancement in products. As part of its agreement with SRM Technologies Private Ltd., a U.S.-based technology company, Zonar Systems, Inc. has entered a joint venture that may offer next-generation telematics services for light-duty cars. North America is proving its intention to engineer innovative telematics solutions for the automotive sector through cooperation aimed at increasing aftermarket sales and improving vehicle uptime.
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Report ID: SQMIG45C2085