The APAC automotive telematics industry is projected to reach USD 93.9 billion in 2023 and soar to USD 414.5 billion by 2033, expanding at a robust CAGR of 16% from 2023 to 2033.
Between 2018 and 2022, the market witnessed substantial growth due to advancements in technology and increased production of passenger and commercial vehicles.
As the automotive industry embraces next-generation communication technologies like automotive telematics, the market has seen widespread adoption across various applications, including safety and security, navigation, and infotainment.
The rising demand for satellite navigation services and the growing trend of in-car mobile communications are unlocking new opportunities for companies in the automotive telematics sector. Additionally, contributions from OEMs and the increasing demand for low-cost, easy-to-manage embedded systems and technology-based solutions are expected to fuel market growth.
Regulatory initiatives and stringent laws aimed at ensuring passenger safety and security are also driving the adoption of telematics systems, particularly in countries like India, China, Japan, and Australia.
Moreover, significant advancements in telecom infrastructure, spurred by favorable government initiatives in countries such as Australia, Japan, India, China, and other South Asian nations, are further supporting the growth of the automotive telematics market in the region.
Key Takeaways:
- In the last five years, the market has expanded at a CAGR of 9%.
- FMI forecasts significant growth for APAC vehicle telematics in China, with the market rising at a 15% CAGR through 2033.
- According to FMI’s analysis, the United Kingdom is expected to lead Europe’s AGV market, increasing at a healthy 14.5% CAGR during the projection period.
- The market’s main players control roughly 60% of the market.
- China accounts for more than half of both revenue and market share in the APAC automotive telematics industry.
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Competitive Landscape
Leading players are concentrating their efforts on increasing their present wide product offers. Moreover, increasing research spending to develop superior products is another important technique for market companies to maintain their market position.
- On July 21, 2022, Guidepoint Systems, a leading global provider of automotive telematics and SaaS for OEMs announced an agreement with Stellantis’ global fleet, accessibility, and linked data brand, Free2move, to utilize vehicle-embedded telematics data.
- In June 2023, Directed Technologies officially established a linked Mobility Innovation Centre, allowing it to meet increasing global demand for its linked car technology and IoT solutions that save lives, reduce pollution, and increase efficiency. The organization’s telematics devices are now used by over 2,500 vehicle fleets globally, including significant truck companies such as PACCAR (Kenworth and DAF), HINO, and Mercedes-Benz.
Key Market Players
- Trimble Inc.
- Visteon Corporation
- Airbiquity Inc.
- Aplicom OY
- Scorpion Automotive Limited
- iTriangle InfoTech Pvt. Ltd.
- Shenzhen Concox Information & Technology Co. Ltd.
- Minda Corporation Limited
- iDem Telematics GmbH
- Road Track
- ACTIA Group
- Lavinta Buana Sakti
- Microlise Limited
- BOX Telematics
- Redtail Telematics Corporation
Key Segmentations Covered
Vehicle Type:
- Commercial
- Passenger
Aircraft Type:
- Embedded
- Tethered
- Integrated/Smartphone
End Use:
- Infotainment
- Safety
- Navigation
- Diagnostics
Channel Type:
- OEM
- Aftermarket
Region:
- China
- Japan
- South Korea
- India
- ASIAN
- Oceania (Australia and the Rest of Oceania)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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