New research report on Consumer telematics are communication technologies and services enabling transfer of large amounts of data in and out of passenger vehicles in real-time. This provides consumers in-vehicle services, global positioning System (GPS) navigation, traffic information, local search (for example, for petrol pumps / gas stations or restaurants) and concierge services. Passenger cars manufactured today offer unique connectivity solutions for better monitoring and tracking. The market is driven by amplified market penetration of smart phones, supportive governmental regulations which call for higher safety and security measures, growing demand for superior driving experience, lowered connectivity cost, and high speed internet technologies such as Long-Term Evolution (LTE).
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The Global Consumer Telematics
market, is expected to grow during the forecast period, i.e.
2014-2020, with a CAGR of 33.7%. Consumer telematics includes
passenger cars. Technology agreements and collaborations are the
key strategies adopted by the market players to enhance their
market share. Based on type of telematics, the market is segmented
into Automotive Original Equipment Manufacturers (OEM) and
Aftermarket. The traditional automotive OEM emphases on traffic
safety while aftermarket highlights media, entertainment and other
Currently, Aftermarket has a relatively high market share as compared to Automotive OEM. Vehicle manufacturing companies, in alliance with telematics providers can lead to high growth of Automotive OEM segment.
Based on Applications, consumer telematics market is segmented into Solutions and Services. Solutions include fleet/asset management, Infotainment, Tele health, Insurance Telematics, Vehicle-to-Vehicle (V2V)/ Vehicle to Infrastructure (V2I), remote alarm, etc. Services include design & consulting, deployment & integration and maintenance & training.
Further, consumer telematics market is segmented, based on End User i.e. Car (owned and rental based), Healthcare, Insurance, Media & entertainment, Vehicle manufacturers/dealers, Government agencies, etc.
Geographically, the market is segmented into, North America, Europe, Asia Pacific and LAMEA. In the years to come, Asia-Pacific is expected to grow as a prominent automobile market in future, which would fuel the market for consumer telematics in the region. The increase in sales is largely driven by the increasing population and rising disposal income. LAMEA is forecasted to grow at a good pace, because of increasing government regulations for vehicle as well as driver safety & security.
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