Trasporti
Automotive Telematics Market to Witness CAGR of 15% (2021-2027) on account of Increasing Demand for Fleet Telematics along with Stringent Government Mandates | UnivDatos Market Insights
Over time, smartphones have evolved into the primary mode of communication. It has opened several possibilities for automakers to replace traditional computer-based infotainment systems with tablets and smartphones, lowering product costs. The growing trend of remaining connected to the outside world while traveling is prompting automakers to implement connectivity options into their vehicles to boost sales. Fuel theft monitoring, car insurance telematics, and eco-driving assistance are now all available through monitoring systems embedded in smartphone apps. As a result, cellphones are a less expensive and handier gadget because they do not require in-vehicle electronics. For example, Driveway Software and Zurich Insurance Group collaborated to develop smartphone-based systems that monitor driving movements, quantify driver distraction, and provide feedback to drivers via their phones. For the safety and security of autos, governments in major countries throughout numerous regions have implemented strict rules and regulations. Many governments have mandated increased installation to track the location and behavior of cars. Many countries have made services such as theft tracking and emergency call systems mandatory.
The COVID-19 disaster has had a significant impact on practically every part of society, including automotive manufacturers and insurance companies. Companies and original equipment manufacturers (OEMs) in various countries were shut down in order to control and overcome the COVID-19 issue, which had a significant impact on the economy, particularly in developing countries. The pandemic has had a significant impact on the automotive industry, and the shutdowns of manufacturing facilities have created various issues. Automobile and parts production factories around the world have closed, consumer activity in showrooms has plummeted, and governments in a number of locations have placed temporary trade restrictions, resulting in a major decline in automobile sales. According to Toyota Kirloskar Motor (TKM), Toyota sales in India fell by 86.49 percent in May 2020 , to 1,639 units, compared to 12,138 units in May 2019 . As a result, it is expected that these factors will limit the market's expansion.
The global Automotive Telematics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
Asia Pacific region has accounted for a large share of the market's expansion owing to the rising connectivity trends and introduction stringent fleet management and telematics rules and regulations by various countries in the region. Furthermore, the market's growth will be fueled by OEM contributions to APAC automotive telematics and high demand for embedded systems or technology-based solutions, which are low-cost and easy to manage. Furthermore, rising government initiatives and stricter restrictions governing the integration of telematics systems for passenger safety and security in nations like India , China , Japan , and Australia are expanding the usage of vehicle telematics.
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive Telematics market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
UnivDatos Market Insights
Ankita Gupta
Director Operations
Ph: +91-7838604911
Email: Ankita.gupta@univdatos.com
Website: https://univdatos.com/
Logo: https://mma.prnewswire.com/media/1225049/UnivDatos_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/automotive-telematics-market-to-witness-cagr-of-15-2021-2027-on-account-of-increasing-demand-for-fleet-telematics-along-with-stringent-government-mandates--univdatos-market-insights-301663421.html