What is the global market size of Vehicle Telematics Market?

Vehicle Telematics Market size was valued at USD 65.43 billion in 2021 and is poised to grow from USD 75. 77 billion in 2022 to USD 211.57 billion by 2030, at a CAGR of 15.8% during the forecast period (2023-2030).

Who are the key vendors in the Global Vehicle Telematics Market?

The global car telematics market is moderately fragmented in terms of competition, with a number of important competitors active on both a global and regional scale. Key competitors are working on technological advancements and forming strategic alliances to diversify their product lines and have a strong presence on the global market. 'Verizon Communications Inc. (United States)', 'AT&T Inc. (United States)', 'TomTom NV (Netherlands)', 'Trimble Inc. (United States)', 'Omnitracs LLC (United States)', 'Masternaut (United Kingdom)', 'Teletrac Navman Group (United States)', 'MiX Telematics Ltd. (South Africa)', 'Geotab Inc. (Canada)', 'CalAmp Corp. (United States)', 'Zonar Systems, Inc. (United States)', 'Octo Telematics Ltd. (Italy)', 'Teletrac Inc. (United States)', 'Spireon Inc. (United States)', 'Gurtam (Belarus)', 'Fleet Complete (Canada)', 'Fleetmatics Group (Ireland)', 'Navman Wireless (United States)', 'Pointer Telocation Ltd. (Israel)', 'Ctrack (South Africa)', 'Telenav, Inc. (United States)', 'Airbiquity Inc. (United States)'

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 2024-2031

Report ID: SQMIG25C2081 | Region: Global | Published Date: August, 2024
Pages: 223 | Tables: 142 | Figures: 80

Vehicle Telematics Market News

In march 2024, Growing reliance on connected vehicle technology prompted discussions and initiatives regarding cybersecurity measures. This is crucial for protecting vehicles from potential hacking attempts.
In jan 2024, The market witnessed consolidation with mergers and acquisitions between major telematics service providers and technology companies. This indicates a maturing market and a drive for enhanced service offerings
In late 2023, Integration of telematics with electric vehicles gained momentum as manufacturers looked to improve battery management, optimize charging infrastructure, and provide real-time data for range monitoring.
In May 2023, in order to provide telematics services to its fleet customers, Verizon and Geotab established a cooperation. Through the collaboration, Verizon will be able to provide its customers with a range of telematics solutions, such as fleet management, driver safety, and fuel efficiency.

In April 2023, the acquisition of Argus Cyber Security, a business that creates telematics security solutions, by Continental was announced. With the acquisition, Continental will be able to increase the scope of its telematics security offerings and provide consumers with a more complete package.

In March 2023, TomTom announced the debut of its brand-new telematics platform, TomTom Telematics. The software is made to assist companies in more effectively managing their fleets and enhancing driver security.

Vehicle Telematics Market Report Snapshots

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Global Vehicle telematics Market size was valued at USD 7.40 Billion in 2022 and is poised to grow from USD 8.15 Billion in 2023 to USD 17.59 Billion by 2031, at a CAGR of 10.1% during the forecast period (2024-2031).

The global car telematics market is moderately fragmented in terms of competition, with a number of important competitors active on both a global and regional scale. Key competitors are working on technological advancements and forming strategic alliances to diversify their product lines and have a strong presence on the global market. '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 delivers actionable data based on fleet vehicle movement that can enhance fleet safety programmers and aid in accident prevention. It allows users to receive updates on vehicle maintenance, driving habits, road conditions, emergency notifications, and other topics that promote safety and security. Due to its unstable environment and inadequate infrastructure, India sees a higher incidence of traffic accidents every year. By supplying real-time data, telematics helps prevent accidents by making the driver more careful. A study found that keeping an eye on drivers' well-being and driving habits significantly lowers fleet accidents by 80%. The need for car telematics is anticipated to rise along with increased safety concerns.

The vehicle telematics industry is currently undergoing changes, influenced by notable trends that are shaping its future. One key trend is the increasing integration of driver assistance systems (ADAS), with telematics technologies. This integration allows vehicles not to collect data about their surroundings but to actively respond to it thereby improving safety and driving experiences. Modern vehicles are increasingly equipped with features such as lane keeping assistance, cruise control and collision avoidance systems.

Due to the widespread use of telematics by commercial vehicles in this area, particularly in the United States, the market in North America is anticipated to have the biggest revenue share in the worldwide vehicle telematics market during the projected period. Demand for telematics is rising throughout the region as a result of growing driver and passenger concerns about security and safety as well as accident avoidance. For instance, the U.S. Department of Air Force and Geotab worked together to install fleet management telematics technology in over 210,000 vehicles on January 10, 2022.

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Vehicle Telematics Market News

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