Telematics is the branch of science
that deals with the long distance communication of computerized information. It
is the blending of telecommunication and informatics for achieving effective
and secured communication. This tremendous growth in telematics services is
expected to be the outcome of growing demand for electric vehicles. Telematics
market is also witnessing increasing demand due to introduction of cloud based
offerings in vehicle telematics. However, decrease in the cost of telematics
equipments is the major challenge currently faced by this industry.
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Increasing collaboration between
vehicle manufacturing companies and telematics vendors is one of the major
reasons contributing to the growth of telematics services industry. Next
generation vehicle telematics application such as automatic vehicle identifier
systems, fleet operation management systems, remote vehicle diagnostics,
incident detection systems, and in-vehicle terminal assistance are expected to
increase the demand of telematics services in vehicle manufacturing industry.
Rising awareness amongst consumers over the need and importance of telematics
services will drive the market demand in upcoming years. Need of effective
vehicle tracking systems is further expected to drive the demand of telematics
services in diverse application areas such as emergency service vehicles,
public transport (taxis), cargo delivery, and others.
Growing popularity of GPS enabled
smart phones can pose a challenge to the growth of this industry. Smart phones
are consuming an important share in world telematics market and these phones
provide multiple functionalities of telematics systems. Currently, the U.S. and
Europe accounts for the majority of global telematics services market due to
stringent regulations from government to have vehicles equipped with emergency
services. Further growth of this industry is expected to be driven by
widespread use of this technology in emerging economies and extended support from
governments to promote vehicular telematics.
Some of the key players of this
market include AirIQ, ETAS Group, OnStar Corporation, QUALCOMM, ATX Group,
WebTech Wireless, and Wireless Matrix Corporation, Punch Telematix, MinorPlanet
Systems, among others.
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This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
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