Asia Pacific Automotive Telematics Market was worth US$ 80.18 Billion in the year 2022 and is expected to reach US$ 341.7 Billion by the year 2032 at a sizzling CAGR of 15.6% between 2022 and 2032.
Telematics in automotive comes across as one of the interdisciplinary fields including multimedia, telecommunications, sensors, road transport, and road safety. The application areas of telematics in automotive include auto insurance, mobile data, container tracking, vehicle tracking, intelligent vehicle technologies, fleet management, car sharing, an emergency warning system for the vehicle, satellite navigation, and likewise.
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At the same time, the advent of GPS-enabled smartphones is expected to restrain the APAC automotive telematics market. It is a known fact that several functionalities pertaining to telematics could get activated on smartphone by installation of relevant software applications. Plus, the big transport companies do have in-place fleet management systems and could show reluctance in further investment in telematics solutions; especially when economic climate is on the adverse side.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘APAC Automotive Telematics Market’. It has its team of analysts and consultants to work on the basis of macros and micros with 360-degree view embedded.
“With digital transformation making a beeline to the automotive vertical, APAC Automotive Telematics Market is bound to grow on a good note in the near future”, says an analyst from Future Market Insights.
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Key Takeaways from APAC Automotive Telematics Market
- China is subject to stern government policies for installing telematics and satellite positioning systems. They are playing a vital role in adopting telematics. The year 2021 saw 18.8 Million units of commercial and passenger vehicles being produced all over China.
- Coming to India, the Indian Automotive Fleet report 2020 stated that close to 7.42 Million commercial vehicles plied on Indian roads in 2020 with 0.29 Million telematics units getting installed.
- Japan’s automotive vertical is looking for tapping into next-gen automotive capabilities like automotive telematics. The manufacturers are into incorporation of advanced technologies like IoT and AI for necessitating demand for enhanced GPS technology in the passenger vehicles. 5G mobile telecommunication network is being widely adopted for catering to quicker technology. The Carnegie Endowment for International Peace is investing in Open Radio Access Network.
- ASEAN economies like Myanmar, Indonesia, Vietnam, and Philippines are into adopting cloud-based technology for the automotive telematics solutions. Transport & logistics sector is there to add. As per the Automotive Association of ASEAN Nations, the year 2018 saw sales of 7.19 Million units of passenger vehicles in the Philippines and Vietnam.
- The Australian Government of Industry Science and Resources has released a report stating that US$ 100 Million funds have been sanctioned for advanced manufacturing; which includes automotive transformation scheme encouraging innovation and competitive investment in automotive vertical since 2020. Plus, US$ 10 Million have been sanctioned for an ‘automotive innovation labs program’ for building automotive test facilities and increasing access to design as well as test facilities regarding automotive products.
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Competitive Automotive Telematics
- Airbiquity, in October 2020, announced launching OTAmatic vehicle configurator (a tool to define and manage connected vehicle software). It does provide automaker an insight into exact software and hardware configurations for managing the known combinations of ECUs (Electronic Control units) and software versions in the vehicles.
- Qualcomm technologies Inc., in January 2021, entered into partnership with General Motors for delivering premium experiences for the vehicles to be released thereafter. This partnership did etch incorporating an entire site of the automotive solutions along with integrating the latter’s next-generation digital cockpit and telematics systems & advanced driver assistance systems.
- Ford, in March 2021, did announce launching novel connected uptime system called ‘FordLiive’. It has been designed for helping Ford commercial vehicle operators enhance their productivity by maximization of vehicle uptime and maintenance of their vehicles, by reduction of number of breakdowns and number of visits to workshop of dealer for maintenance.
- Masternau (Michelin Group Company), in June 2021, did announce launching novel ‘Move Electric’ solution with the objective of supporting company’s fleets’ management as they witness transition to EVs (Electric Vehicles) from ICEs (Internal Combustion Engines).
What does the Report state?
- The research study is based on vehicle type (passenger and commercial), by aircraft type (embedded, tethered, and integrated/smartphone), by end-use (infotainment, safety, navigation, and diagnostics), and by channel type (aftermarket and OEM).
- With growing production of commercial and passenger vehicles coupled with technological advancements, APAC automotive telematics market is slated to grow vigorously in the years to come.
Key Segments Covered
Vehicle Type
- Commercial
- Passenger
Aircraft Type
- Embedded
- Tethered
- Integrated/Smartphone
End Use
- Infotainment
- Safety
- Navigation
- Diagnostics
Channel Type
- OEM
- Aftermarket
Region
- China
- Japan
- South Korea
- India
- ASEAN
- Oceania (Australia and the Rest of Oceania)
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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