Get more insights on APAC Automotive Telematics Market
APAC Automotive Telematics Market is Driven by Rising Demand for Connected Vehicles
The APAC automotive telematics market consists of telematics solutions and services that are used in passenger cars, commercial vehicles, and two-wheelers. Automotive telematics helps track vehicles, enables emergency calling, navigation assistance, diagnostics, and vehicle maintenance through a connected device. It provides benefits like vehicle tracking, diagnostics, emergency calling, navigation & infotainment, compliance management, and fuel management. The rising trend of connectivity in vehicles is increasing the demand for telematics devices and services in the APAC region owing to benefits such as safety, convenience, security, and fleet management optimization.
The APAC Automotive Telematics Market is estimated to be valued at US$ 25661.54 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the APAC Automotive Telematics are Accell Group, BionX, Robert Bosch GmbH, Derby Cycle AG, Easy Motion, Electric Bike Technologies LLC, Giant Bicycles, GRACE, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, Superpedestrian, Trek, and Yadea Technology Group Co. Ltd.
The increasing awareness regarding the benefits of electric bicycles such as reduced emissions, improved fitness, cost-effectiveness, and ease of use is fueling the growing demand for electric bicycles in the APAC region.
The APAC Automotive Telematics Market Growth is owing to supportive government policies and initiatives towards sustainable transportation along with growing investments by key OEMs for developing advanced telematics solutions and services in countries including China, Japan, and South Korea. International players are also focusing on expanding in developing nations for tapping the market potential.
Market Drivers
The key driver for the APAC automotive telematics market is the rising demand for connected vehicles. Factors such as growing penetration of smartphones, advanced connectivity features, and government mandates for vehicle safety and security are accelerating the demand for vehicle telematics in APAC. OEMs are increasingly integrating telematics solutions to offer value-added services to customers. Furthermore, increasing awareness about vehicle management, safety & security, and regulations regarding fleet management solutions are expected to boost the telematics market in APAC during the forecast period.
Impact of geopolitical situation on APAC Automotive Telematics Market growth
The APAC automotive telematics market is witnessing changes due to the evolving geopolitical environment. Ongoing global tensions and regional political instability are impacting transportation and automotive industry trends across various nations. Supply chain disruptions from lockdowns and international sanctions have constrained vehicle and component production for OEMs in some APAC countries. Furthermore, heightened security concerns in the region have prioritized the implementation of safety and tracking features in commercial fleets as well as private vehicles. This increasing focus on telematics solutions offering features like real-time monitoring, emergency response and location services is supporting the adoption of advanced telematics devices.
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