Summary
The global Passenger Vehicle Telematics market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
Passenger Vehicle Telematics is those systems that are installed on the vehicles for recording data and storing it in a remote central location. There are various advantages of using these vehicles for the purpose, the foremost being their high level of accuracy, as well as the low cost associated with the same. With a wide range of models to choose from, vehicles having this technology have become extremely popular among trucking and transportation companies all over the world. The global passenger vehicle telematics market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global passenger vehicle telematics market is expected to witness significant growth during the forecast period, owing to stringent government regulations for the safety and security of vehicles.
Market Drivers
Technological advancements in telematics technology are expected to drive growth of the global passenger telematics systems market during the forecast period. Key players operating in the market are focused on research and development activities, in order to launch novel products. For instance, in November 2019, iTriangle Infotech, a provider of vehicle telematics devices, launched three new devices namely T S101 Basic with CAN, U X101, and Drive-Assist that are in tune with changing requirements of the industry. Hence, these factors are expected to drive growth of the global passenger vehicle telematics market during the forecast period. Furthermore, stringent regulations for the safety and security of vehicles is expected to propel the global passenger vehicle telematics market growth over the forecast period.
Market Restraint
High capital and maintenance cost is expected to restrain growth of the global passenger vehicle telematics market over the forecast period.
Regional Insights
Among regions, North America is expected to witness significant growth in the global passenger telematics market. This is owing to a high volume of passenger vehicles and rising safety and security concerns among vehicle owners across the region. Furthermore, Europe is expected to register a robust growth rate, owing to the presence of stringent safety regulations in the region.
Competitive Section
Key players involved in the global passenger vehicle telematics market are Agero Inc., Visteon Corp., Airbiquity Inc., Verizon Communications Inc., AT&T Inc., Trimble Inc., Bridgestone Corp., Telefonaktiebolaget LM Ericsson, Continental AG, and Robert Bosch GmbH.
For instance, in August 2020, Zoomcar, a vehicle rental platform, launched a software stack for fleet owners with real-time status of vehicles.
The Passenger Vehicle Telematics market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Passenger Vehicle Telematics market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Agero
- Airbiquity
- Bosch
- Continental
- Visteon
- ...
By the Product Type, the market is primarily segmented into:
- Remote Message Processing System
- Brake System
- Transmission Control System
By Applications, the market is segmented into:
- Passenger Car
- Commercial Vehicle
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Passenger Vehicle Telematics market Report:
- To assess the size of the market by value and volume
- Analyze the Passenger Vehicle Telematics market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Passenger Vehicle Telematics market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Passenger Vehicle Telematics market
The Passenger Vehicle Telematics market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Passenger Vehicle Telematics market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
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