Automotive Telematics Market worth USD 16.1 billion by 2030 - Exclusive Report by MarketsandMarkets™
Although Asia-Pacific leads the automotive telematics market owing to a higher volume of passenger cars, the European and North American markets hold a higher penetration of telematics unit fitment.
- Although Asia-Pacific leads the automotive telematics market owing to a higher volume of passenger cars, the European and North American markets hold a higher penetration of telematics unit fitment.
- OEMs like Volkswagen, Ford, Mercedes-Benz, Audi, and BMW offer telematics units as a standard or optional feature in these regions.
- Insurance-based assessment services are projected to become a prominent telematics service market by the end of 2030 as they offer several benefits over standard insurance.
- Hence, the increasing adoption of automotive telematics would prompt the market growth of insurance-based assessment services in the coming years.