Passenger Vehicle Telematics Market to grow by USD 24.78 billion from 2022 to 2027, Agero Inc., Airbiquity Inc., AT and T Inc., and MORE to emerge as key players- Technavio

NEW YORK, Oct. 13, 2023 /PRNewswire/ -- The passenger vehicle telematics market is estimated to grow by USD 24.78 billion from 2022 to 2027, growing at a CAGR of 18.05%. The passenger vehicle telematics market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer passenger vehicle telematics market are Agero Inc., Airbiquity Inc., AT and T Inc., Bridgestone Corp., Bynx Ltd., Continental AG, Danaher Corp., Delphi Technologies Plc, DXC Technology Co., Fleet Complete, OCTO Telematics S.p.A, Robert Bosch GmbH, Telefonaktiebolaget LM Ericsson, Telenav Inc., Trimble Inc., Valeo SA, Verizon Communications Inc., Visteon Corp., Vodafone Group Plc, and Garmin Ltd. For details on companies and their offerings – Buy report!

Company Offering:

• Agero Inc: The company offers passenger vehicle telematic solutions to improve the accident management process to minimize the costs and reduce stress for the customers.
• The report provides a full list of key companies, their strategies, and the latest developments. Download FREE Sample before buying

By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. APAC will have the largest share of the market.

APAC accounts for 45% of the growth of the global market during the forecast period. There is an increasing demand for automotive telematics from emerging markets such as India, China, Malaysia, and Indonesia. which is signficantly contributing to the growth of the market in APAC. Some of the main telematic services that fuel the revenue growth of the market include fleet management and vehicle tracking services. Furthermore, there is an increasing adoption of telematics offerings in their commercial portfolios by OEMs in APAC in order to ensure product differentiation. Hence, such factors are expected to drive the market growth in APAC during the forecast period.

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• Impactful driver- Push for embedded telematics systems in BRIC nations by OEMs
• Key Trend - Adoption of video telematics to precisely track driver behavior
• Major Challenges - High cost associated with telematics services 

 Market Segmentation

• The market share growth by the smartphone integration segment is significant during the forecast period. There is an increasing adoption of smartphone-integrated solutions across mid-size passenger vehicles. Therefore, the increasing volume of the mid-size vehicle segment, especially in APAC will fuel the adoption of smartphone-integrated systems. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Technavio Research experts have provided more insights on the market share of segments - View FREE Sample Report

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio