Passenger vehicle telematics market size to grow by USD 24.78 billion from 2022 and 2027; APAC to account for 45% of the market growth - Technavio

NEW YORK, May 5, 2023 /PRNewswire/ -- The global passenger vehicle telematics market size is estimated to grow by USD 24.78 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 18.05%. APAC will account for 45% of the market growth during the forecast period. The demand for passenger vehicles is increasing in developing countries such as India, China, Malaysia, and Indonesia. The region is witnessing an increased demand for passenger cars that come installed with in-dash entertainment systems, display units, advanced safety and security features, and navigation systems. Prominent OEMs in the region are equipping their vehicles with telematics systems to create product differentiation. In addition, the rising awareness and increasing demand for telematics and built-in connectivity among consumers will drive the growth of the passenger vehicle telematics market in APAC during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Global Passenger Vehicle Telematics Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on product (smartphone integration, tethered, and embedded), type (remote message processing system, brake system, and transmission control system), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

• The market growth in the smartphone integration segment will be significant over the forecast period. The penetration of smartphones has grown significantly worldwide, and it is expected to grow further. This has pushed the need for integrating smartphones with vehicle systems for an enhanced driving experience. Ford SYNC 3 AppLink and Toyota Entune are some of the popular smartphone-integrated solutions in the market. The SYNC 3 AppLink gave significant popularity to Ford Motor Company due to its features and reliability. Similarly, other major market players offer a range of systems featuring various functionalities, applications, and prices, targeting every consumer demographic. As a result of these factors, the segment will witness strong growth over the forecast period.

Insights on the market contribution of various segments, including country- and region-wise data, historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Global Passenger Vehicle Telematics Market ? Market Dynamics

Key factor driving market growth

The market is driven by the push for embedded telematics systems in BRIC nations by OEMs. Regulatory bodies worldwide are introducing several legislations to encourage the installation of embedded telematics in passenger vehicles. The penetration of vehicle telematics is increasing rapidly in developing nations, especially in Brazil, Russia, India, and China (BRIC). Consumers in these countries are exhibiting increased interest in navigation services and infotainment services in passenger cars. Hence, OEMs are collaborating with automotive telematics providers and are planning to introduce new products and services to tap the growth opportunity in BRIC countries. Also, globalization and the increasing popularity of connected vehicles have paved the way for the use of in-vehicle entertainment and information systems. Many automotive OEMs operating in India are equipping their entry-level and medium-range vehicles with in-vehicle entertainment and information systems to meet the growing demand from consumers. All these factors are increasing the demand for connected vehicle technologies, which is driving the growth of the market.

Leading trends influencing the market 

The adoption of video telematics to precisely track driver behavior is identified as the key trend in the market. Modern telematics service providers are adopting cameras to monitor driver behavior. For instance, MiX Telematics offers MiX Vision in-cab video monitoring system. It is an integrated solution with an onboard computer and a web-based fleet management platform. Similarly, Omnitracs offers Critical Event Video with an in-cab video integration solution that ties into Omnitracs Critical Event Reporting to improve driver training and mitigate liability risks associated with accidents and other critical events. The introduction of video telematics solutions is expected to benefit the growth of the market during the forecast period.

Major challenges hindering the market growth

The high cost associated with telematics services is identified as the major challenge hindering the growth of the market. It requires significant initial investments when setting up vehicle telematics systems. The initial setup also includes the payment for customization and integration with current systems. In addition, the license fee needs to be renewed periodically, which increases the overall cost of ownership. Moreover, some service providers charge roaming fees if the vehicle travels beyond a country's borders. They also charge in situations involving vehicle replacement and end-contractual equipment termination. Such factors restrict the growth of the market.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this passenger vehicle telematics market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the passenger vehicle telematics market between 2023 and 2027
• Precise estimation of the size of the passenger vehicle telematics market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the passenger vehicle telematics market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of passenger vehicle telematics market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary ? Chart on Market Overview
• Exhibit 02: Executive Summary ? Data Table on Market Overview
• Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
• Exhibit 04: Executive Summary ? Chart on Market by Geography
• Exhibit 05: Executive Summary ? Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary ? Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary ? Chart on Incremental Growth
• Exhibit 08: Executive Summary ? Data Table on Incremental Growth
• Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global passenger vehicle telematics market 2017 - 2021 
• Exhibit 18: Historic Market Size ? Data Table on Global passenger vehicle telematics market 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size ? Product Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size ? Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size ? Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size ? Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers ? Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers ? Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants ? Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes ? Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry ? Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Smartphone integration - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Smartphone integration - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Smartphone integration - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Smartphone integration - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Smartphone integration - Year-over-year growth 2022-2027 (%)

• 6.4 Tethered - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Tethered - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Tethered - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Tethered - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Tethered - Year-over-year growth 2022-2027 (%)

• 6.5 Embedded - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Embedded - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Embedded - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Embedded - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Embedded - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ billion)
• Exhibit 47: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 48: Chart on Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Remote message processing system - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Remote message processing system - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Remote message processing system - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Remote message processing system - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Remote message processing system - Year-over-year growth 2022-2027 (%)

• 7.4 Brake system - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Brake system - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Brake system - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Brake system - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Brake system - Year-over-year growth 2022-2027 (%)

• 7.5 Transmission control system - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Transmission control system - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Transmission control system - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Transmission control system - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Transmission control system - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 64: Market opportunity by Type ($ billion)
• Exhibit 65: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 107: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ billion)
• Exhibit 112: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Agero Inc.
• Exhibit 119: Agero Inc. - Overview
• Exhibit 120: Agero Inc. - Product / Service
• Exhibit 121: Agero Inc. - Key offerings

• 12.4 Airbiquity Inc.
• Exhibit 122: Airbiquity Inc. - Overview
• Exhibit 123: Airbiquity Inc. - Product / Service
• Exhibit 124: Airbiquity Inc. - Key offerings

• 12.5 AT and T Inc.
• Exhibit 125: AT and T Inc. - Overview
• Exhibit 126: AT and T Inc. - Business segments
• Exhibit 127: AT and T Inc. - Key news
• Exhibit 128: AT and T Inc. - Key offerings
• Exhibit 129: AT and T Inc. - Segment focus

• 12.6 Bridgestone Corp.
• Exhibit 130: Bridgestone Corp. - Overview
• Exhibit 131: Bridgestone Corp. - Business segments
• Exhibit 132: Bridgestone Corp. - Key news
• Exhibit 133: Bridgestone Corp. - Key offerings
• Exhibit 134: Bridgestone Corp. - Segment focus

• 12.7 Bynx Ltd.
• Exhibit 135: Bynx Ltd. - Overview
• Exhibit 136: Bynx Ltd. - Product / Service
• Exhibit 137: Bynx Ltd. - Key offerings

• 12.8 Continental AG
• Exhibit 138: Continental AG - Overview
• Exhibit 139: Continental AG - Business segments
• Exhibit 140: Continental AG - Key offerings
• Exhibit 141: Continental AG - Segment focus

• 12.9 Danaher Corp.
• Exhibit 142: Danaher Corp. - Overview
• Exhibit 143: Danaher Corp. - Business segments
• Exhibit 144: Danaher Corp. - Key news
• Exhibit 145: Danaher Corp. - Key offerings
• Exhibit 146: Danaher Corp. - Segment focus

• 12.10 Delphi Technologies Plc 
• Exhibit 147: Delphi Technologies Plc - Overview
• Exhibit 148: Delphi Technologies Plc - Business segments
• Exhibit 149: Delphi Technologies Plc - Key offerings
• Exhibit 150: Delphi Technologies Plc - Segment focus

• 12.11 DXC Technology Co.
• Exhibit 151: DXC Technology Co. - Overview
• Exhibit 152: DXC Technology Co. - Business segments
• Exhibit 153: DXC Technology Co. - Key news
• Exhibit 154: DXC Technology Co. - Key offerings
• Exhibit 155: DXC Technology Co. - Segment focus

• 12.12 Fleet Complete
• Exhibit 156: Fleet Complete - Overview
• Exhibit 157: Fleet Complete - Product / Service
• Exhibit 158: Fleet Complete - Key offerings

• 12.13 Robert Bosch GmbH
• Exhibit 159: Robert Bosch GmbH - Overview
• Exhibit 160: Robert Bosch GmbH - Business segments
• Exhibit 161: Robert Bosch GmbH - Key news
• Exhibit 162: Robert Bosch GmbH - Key offerings
• Exhibit 163: Robert Bosch GmbH - Segment focus

• 12.14 Telefonaktiebolaget LM Ericsson 
• Exhibit 164: Telefonaktiebolaget LM Ericsson - Overview
• Exhibit 165: Telefonaktiebolaget LM Ericsson - Business segments
• Exhibit 166: Telefonaktiebolaget LM Ericsson - Key news
• Exhibit 167: Telefonaktiebolaget LM Ericsson - Key offerings
• Exhibit 168: Telefonaktiebolaget LM Ericsson - Segment focus

• 12.15 Trimble Inc.
• Exhibit 169: Trimble Inc. - Overview
• Exhibit 170: Trimble Inc. - Business segments
• Exhibit 171: Trimble Inc. - Key offerings
• Exhibit 172: Trimble Inc. - Segment focus

• 12.16 Verizon Communications Inc. 
• Exhibit 173: Verizon Communications Inc. - Overview
• Exhibit 174: Verizon Communications Inc. - Business segments
• Exhibit 175: Verizon Communications Inc. - Key offerings
• Exhibit 176: Verizon Communications Inc. - Segment focus

• 12.17 Visteon Corp.
• Exhibit 177: Visteon Corp. - Overview
• Exhibit 178: Visteon Corp. - Product / Service
• Exhibit 179: Visteon Corp. - Key news
• Exhibit 180: Visteon Corp. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 181: Inclusions checklist
• Exhibit 182: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 183: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 184: Research methodology
• Exhibit 185: Validation techniques employed for market sizing
• Exhibit 186: Information sources

• 13.5 List of abbreviations 
• Exhibit 187: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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