PUBLISHER: Inkwood Research | PRODUCT CODE: 1314356
PUBLISHER: Inkwood Research | PRODUCT CODE: 1314356
The Asia-Pacific automotive telematics market is set to propel with a 14.42% CAGR during the forecast period, 2023-2032. The market growth is boosted by road safety emphasis, smart city expansion, and electric vehicle adoption.
The Asia-Pacific automotive telematics market growth assessment includes an analysis of Australia & New Zealand, Japan, South Korea, India, Singapore, China, and Rest of Asia-Pacific. The adoption of automotive telematics in South Korea has been gaining momentum, catalyzed by the rising trend of connected vehicles and government-led initiatives that encourage the evolution of intelligent transportation systems. Leading this tech-driven march are South Korean automakers. They are heavily investing in the research, development, and implementation of advanced telematics systems, driving the industry forward.
Several factors propel this growth trajectory: an escalating consumer appetite for connected vehicles, robust government support for smart transportation systems, and the burgeoning application of autonomous vehicles. As such, automotive telematics has emerged as a pivotal element in shaping South Korea's transportation future, fostering a more interconnected, efficient, and sustainable transport ecosystem.
Furthermore, Australia's comprehensive national telematics framework aligns authorities, providers, and operators, promoting digital technology and data use for public purpose outcomes. It includes schemes for heavy vehicle network access, assurance levels, hardware requirements, data exchange standards, etc. In New Zealand, businesses spearhead the adoption of emerging technologies like telematics for improved safety risk management in freight movement, aiding market growth.
Major market players include: Solera, Tom Tom NV, etc.