USD 77.75 billion
Vehicle Telematics Market Size, Share, Growth Analysis, By Sales channels(OEMS and aftermarket), By Form(Embedded, integrated), By Services(Emergency Call, Remote Diagnostics, Stolen Vehicle Assistance (Stolen Vehicle Tracking, Stolen Vehicle Support), By Connectivity(Satellite, Cellular (3g,4g,5g)), By Vehicle type(Passenger car, light commercial vehicles, truck and buses, heavy commercial vehicle), By Fleet management services(Fleet Tracking and Geofencing, Routing and Scheduling, Vehicle Maintenance and Diagnostics, Fleet Analytics and Reporting), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25C2081 |
Region:
Global |
Published Date: August, 2024
Pages:
223
|Tables:
142
|Figures:
80
Vehicle Telematics Market Insights
Vehicle Telematics Market size was valued at USD 8.15 Billion in 2023 and is poised to grow from USD 8.97 Billion in 2024 to USD 19.37 Billion by 2032, growing at a CAGR of 10.1% during the forecast period (2025-2032).
Rapidly increasing demand for better fleet tracking and management solutions by vehicle fleet owners is expected to bolster the demand for vehicle telematics over the coming years. Growing demand for connected vehicles around the world is also slated to promote the adoption of vehicle telematics going forward. Advancements in tracking and connectivity technologies are also resulting in the creation of novel vehicle telematics solutions. Imposition of stringent safety mandates by regulatory bodies and governments to enhance driver safety are also slated to benefit the global vehicle telematics market growth in the long run. On the contrary, complexity in integration, poor connectivity in remote areas, data security and privacy concerns, and resistance to change are slated to be key constraints for vehicle telematics companies across the study period and beyond.
US Vehicle Telematics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger Vehicles
Fastest Growth
Commercial Vehicles
Growth Rate
15.80% CAGR
Global Vehicle Telematics Market ($ Bn)
Country Share for North America Region (%)
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Vehicle Telematics Market Segmental Analysis
Global Vehicle Telematics Market is segmented based on technology, sales channels, vehicle type and region. Based on technology, the market is segmented into embedded, tethered, integrated. Based on sales channels, the market is segmented into OEMS and aftermarket. Based on vehicle type, the market is segmented into passenger cars and commercial vehicles. Based on fleet management services, the market is segmented into Fleet tracking and geofencing, routing and scheduling, others. Based on services, the market is segmented into Emergency call, remote diagnostics and on road assistance. Based on connectivity, satellite and cellular(3g,4g,5g). Based on vehicle type, the market is segmented into pasenger car, commercial vehicle, truck, bus, BEV, PHEV AND FCEV. Based on region, the market is segmented into North America, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Technology
The embedded segment is forecasted to hold the largest global vehicle telematics market share going forward. The in-built nature of embedded vehicle telematics ensures continuous connectivity and also offers insights on multiple aspects of vehicle such as engine performance monitoring and emissions monitoring as well. High reliability and cost-effective nature of embedded vehicle telematics are also expected to bolster the dominance of this segment over the coming years. The growing number of vehicle manufacturers offering telematics from factories itself is also expected to bolster the popularity of embedded telematics in the long run.
Meanwhile, the demand for integrated vehicle telematics is forecasted to rise at a noteworthy pace over the coming years. Growing use of smartphones and use of the same for connectivity in vehicles are expected to promote the demand for integrated vehicle telematics going forward. Integrated vehicle telematics solutions utilize Bluetooth and OBD II (onboard diagnostics port) to connect with the vehicle and provide telematics features. This type of telematics solutions are expected to gain massive popularity in developing countries where advanced embedded telematics solutions are not available.
Analysis by Vehicle Type
Passenger vehicles are forecasted to account for a major chunk of the global vehicle telematics market share in the future. Surging sales of passenger vehicles and rising adoption of telematics solutions in the same are cementing the dominance of this segment. Growing disposable income of people around the world and rising popularity of connected vehicles are also slated to bolster revenue generation from passenger vehicles going forward. Rising demand for fuel & routing optimization, vehicle maintenance warnings, real-time tracking, and stolen-car recovery features in passenger vehicles is also estimated to offer new business scope for vehicle telematics providers over the coming years.
On the other hand, the demand for vehicle telematics in commercial vehicles is expected to rise at a notable pace in the long run. Increasing emphasis on improving tracking and management of large commercial vehicle fleets to ensure safety and compliance are promoting the demand for vehicle telematics going forward. Growing use of vehicle telematics in long haul trucking companies to enhance operational efficiency is also expected to boost revenue generation for companies via this segment. Moreover, imposition of stringent safety regulations for commercial vehicles are also expected to create new opportunities for vehicle telematics providers in the future.
Global Vehicle Telematics Market By Vehicle Type
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Vehicle Telematics Market Regional Insights
North America is forecasted to emerge as the leader in terms of global vehicle telematics market outlook. Growing emphasis on vehicle safety in this region and imposition of stringent vehicle safety regulations are helping this region lead the demand for vehicle telematics. Rising popularity of connected vehicles and availability of a developed network infrastructure further bolster the adoption of vehicle telematics in this region. The United States and Canada are estimated to emerge as the most opportune markets for vehicle telematics providers operating in North America through 2031 and beyond.
Surging sales of vehicles are projected to primarily drive the demand for vehicle telematics in the Asia Pacific region and make it the fastest-growing market in the world. The presence of leading automotive manufacturers, growing awareness regarding the benefits of telematics, and imposition of stringent regulations are expected to create new business scope for vehicle telematics providers going forward. China, India, and Japan are forecasted to bring in the most revenue owing to rising disposable income and growing sales of passenger vehicles. Increasing adoption of navigation and real-time traffic information systems in this region is also estimated to bolster the demand for vehicle telematics in the long run.
Global Vehicle Telematics Market By Region
- Largest
- Fastest
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Vehicle Telematics Market Dynamics
Vehicle Telematics Market Drivers
High Demand for Fleet Management Solutions
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A growing number of vehicle fleet owners are promoting the adoption of advanced vehicle telematics solutions to keep track and manage their fleets efficiently. By deploying fleet management solutions, companies are getting access to real-time tracking, route optimization, and fuel efficiency, reducing operational costs and improving productivity.
Growing Adoption of Connected Vehicles
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Connected vehicles are gaining rapid popularity around the world as they provide better user experience and enhanced safety features. The integration of telematics with advanced connectivity technologies, including 5G, IoT, and V2X communication enables connected vehicles to become more advanced. Hence, use of telematics in connected vehicles is slated to boost the global vehicle telematics market growth in the future.
Vehicle Telematics Market Restraints
Limited Network Connectivity in Remote Areas
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Vehicle telematics rely heavily on network connectivity to function efficiently. However, the absence of proper network infrastructure in remote areas could render vehicle telematics solutions useless. This restraint is expected to especially impede the adoption of vehicle telematics in developing and underdeveloped countries with poor network infrastructure and connectivity.
Data Privacy and Security Concerns
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Vehicle telematics solutions collect vast amounts of data about the vehicle and its operations. Ensuring privacy and security of this data is a major concern for vehicle telematics providers and increasing risk of cyberattacks and data breaches are also expected to push vehicle and fleet owners to stay away from these offerings going forward.
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Vehicle Telematics Market Competitive Landscape
Vehicle telematics companies should focus on expanding their business scope across multiple industry verticals in the future. Integration of advanced connectivity technologies to improve the scope of vehicle telematics will also be a key area of interest for all market players. Targeting the developing countries is forecasted to offer robust returns for all new as well as established vehicle telematics companies in the long run.
Vehicle Telematics Market Top Player’s Company Profiles
- Verizon Communications Inc. (United States)
- AT&T Inc. (United States)
- TomTom NV (Netherlands)
- Trimble Inc. (United States)
- MiX Telematics Ltd. (South Africa)
- Geotab Inc. (Canada)
- CalAmp Corp. (United States)
- Octo Telematics Ltd. (Italy)
- Gurtam (Belarus)
- Fleet Complete (Canada)
- Airbiquity Inc. (United States)
- Continental AG (Germany)
- Robert Bosch GmbH (Germany)
- Valeo S.A. (France)
- Denso Corporation (Japan)
- Aptiv PLC (Ireland)
- Qualcomm Incorporated (United States)
- Intel Corporation (United States)
- NXP Semiconductors N.V. (Netherlands)
- Panasonic Corporation (Japan)
- Inseego Corp. (United States)
- Verizon Connect (United States)
Vehicle Telematics Market Recent
- In November 2023, a new vehicle telematics system was launched by Brigade Electronics. Aspects of driving such as speeding, sudden braking and rapid acceleration can be monitored using Brigade’s Vehicle Telematics solution to improve road and driver safety.
- In September 2024, Bosch Global Software, KPIT, and Cummins joined hands to develop a new commercial vehicle telematics solution. The new open source offering is projected to be launched with the Eclipse Software Defined Vehicle project to reduce telematics development costs for commercial vehicles.
- In October 2023, Nauto®, a leading provider of safety solutions for commercial vehicles announced the launch of its telematics capabilities. The new offering is aimed at vehicle tracking, utilization, misuse, and maintenance planning for commercial vehicles to enhance safety and provide better operational efficiency for fleet owners.
Vehicle Telematics Key Market Trends
- Use in Shared Mobility: Vehicle telematics providers should invest in developing specialized solutions for the shared mobility industry. Ride-sharing and car rental companies are gaining massive popularity around the world and the need for vehicle telematics to ensure smooth operations in the aforementioned businesses is quite high thereby making this a prominent vehicle telematics market trend for the future.
- Emphasis on Sustainability: Vehicle telematics companies can focus on improving sustainability through their offerings in the future. Imposition of stringent vehicle emission mandates is also expected to push vehicle telematics solutions to be integrated with emissions monitoring in the long run. Fleet operators can utilize vehicle telematics solutions to optimize their routes and ensure maximum fuel efficiency as well.
Vehicle Telematics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing emphasis on improving vehicle safety and rising demand for better fleet tracking and management are slated to drive up the demand for vehicle telematics going forward. However, poor network coverage in remote areas and data privacy concerns are slated to impede the adoption of vehicle telematics in the future. North America is expected to spearhead the global vehicle telematics market outlook owing to the presence of a strong technological and network infrastructure. Emphasis on sustainability and use in shared mobility are slated to be key opportunities for vehicle telematics providers in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.40 Billion |
| Market size value in 2031 | USD 17.59 Billion |
| Growth Rate | 10.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Vehicle Telematics Market Recent
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vehicle Telematics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vehicle Telematics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vehicle Telematics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vehicle Telematics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vehicle Telematics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vehicle Telematics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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