Automotive telematics refers to the usage of telecommunication and informatics in vehicles to enable safety and security assistance, infotainment and comfort. Features like navigation, e-call, telehealth, fleet management are boosting the demand for telematics solutions.
One of the key trends driving the growth of APAC automotive telematics market is increased adoption of connectivity solutions in vehicles. Fleet tracking, navigation and infotainment are some of the widely used connectivity features. Manufacturers are focussed on integrating advanced connectivity and telematics technologies to provide personalized in-vehicle experience and improve safety. Technologies such as embedded telematics, integrated telematics and tethered telematics are gaining popularity in the region. This shift towards connected vehicles will propel the market growth over the forecast period.
The APAC automotive telematics market is segmented by vehicle type, connectivity solution, application, and geography. Based on vehicle type, the passenger car segment dominated the market with a share of over 70% in 2023. The growing demand for safety, security, and convenience features from tech-savvy passengers is driving the segment's growth. By connectivity solution, the embedded segment captured around 65% of the market in 2023 as it provides seamless connectivity without additional hardware costs.
The Global APAC automotive telematics market Size is expected to witness high growth, exhibiting a CAGR of 14% over the forecast period, due to increasing demand for safety, connected, and autonomous mobility solutions in emerging economies.
Regionally, China held the highest share of over 35% of the APAC automotive telematics market in 2023 owing to the large automotive production base and increasing focus of the government and OEMs on developing autonomous and connected vehicles. India is expected to exhibit the fastest CAGR of around 17% during the forecast period due to rising adoption of subscription-based services.
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http://digitalmarketinsights.weebly.com/blog/december-01st-2023
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