PUBLISHER: Allied Market Research | PRODUCT CODE: 1414750
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414750
The automotive OEM telematics market is expected to experience a significant growth rate of 15.1% from 2023-2032 due to integration of real-time fleet monitoring systems in vehicles coupled with rise in trend of connectivity solutions - Allied Market Research
The automotive OEM telematics market growth is driven by several factors, including the integration of real-time fleet monitoring systems into vehicles, the ease of integrating vehicle diagnostics, and the growth of connectivity solutions. In addition, intelligent transport system, better driver, and vehicle safety present significant opportunities for market expansion.
For this type of fleet management, AI, IoT and big data are used to gather the primary data. Additionally, techwave Consulting Inc. is using sensors which can be installed in vehicles to track high-value items. These sensors connect with the cloud and send the data real-time. In addition to vehicle and driver tracking, there are other important activities that need to be done in the field of smart fleet management. These activities include asset management, 2-way communication and driver safety and time management as well as rescheduling a delivery task. The introduction of new products and the benefits of smart fleet management such as
1) rapid response, wide area coverage and cost reduction help vendors to become more efficient and productive, which in turn increases the demand for intelligent fleet management services that are used for automotive original equipment manufacturers (OEMs).
Smartphones have revolutionized the concept of connectivity. People expect their vehicles to do the same things as computers and smartphones. This has made adding connectivity solutions to cars a top priority for car manufacturers. Most connectivity solutions are built into modern cars and need internet service to function. Connectivity solutions can be installed in a car through embedded, integrated or tethered solutions. The auto industry is in the midst of a digital revolution. Cars are expected to completely transform into communication objects in the near future. This is expected to fuel the growth of the automotive OBD market as customers demand to stay connected even while on the go.
The automotive OEM telematics market is segmented into offering, vehicle type, application, and region. On the basis of offering, the market is segmented classified into hardware, software, and services. On the basis of vehicle type, it is categorized into passenger vehicle and commercial vehicle. By application the market is divided into infotainment and & navigation, fleet management, safety and & security, and diagnostics. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Continental AG, Maruti Suzuki, Verizon, BMW AG, Toyota Motor Corporation, Renault Group, Mercedes-Benz Group, Ford Motor Company, Nissan Motor Co., Ltd., General Motors, among others are the major players operating in the market.
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