At 19.1% CAGR, Asia Pacific Automotive Telematics Market is Projected to be Worth US$ 67,876.09 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific automotive telematics market was valued at US$ 16,735.68 million in 2022 and is expected to reach US$ 67,876.09 million by 2030, registering a CAGR of 19.1% from 2022 to 2030. Increasing installation of telematic devices by automotive OEMs and mounting adoption of IOT and ai in fleet management are among the critical factors attributed to drive the Asia Pacific automotive telematics market.

Automotive OEMs such as Hyundai, Volkswagen Group, GM, Tata Motors, BMW, and Nissan are providing in-built automotive telematic solutions in their vehicles. These companies are installing embedded telematic systems as per the customer's requirements owing to the rising emergence of connected cars. According to Business Market Insights, embedded telematics systems installation by OEMs worldwide reached almost 43.8 million units worldwide in 2022 and is projected to reach 110.02 million units by 2030, growing with a CAGR of 12.2% during 2022-2030 2022-2030. The growing installation of telematics systems around the globe by OEMs is driving the market growth. Embedded telematics systems are used to control several functions in the vehicle. Telematics systems can be connected to the cloud and help keep occupants safe in a car. The demand for embedded telematics products is increasing rapidly with the growing number of telematic subscribers globally. According to Business Market Insights Analysis, the telematics subscribers that use embedded systems reached 112.0 million in 2022 and are projected to reach 216 million by 2030. As of 2022, all new cars sold globally are equipped with some kind of telematic systems. Developing countries such as India, China, Japan, and South Korea emerged as the fastest-growing countries adopting telematic services. China has a significant share of telematics services adoption across the globe. Also, several key players in the automotive industry are installing embedded telematic systems to manufacture connected cars.

On the contrary, the data privacy and security concerns hampers the growth of Asia Pacific automotive telematics market.

Based on application, the Asia Pacific automotive telematics market is segmented into hardware and software & services. The hardware segment held 63.5% market share in 2022, amassing US$ 10,628.24 million. It is projected to garner US$ 38,823.38 million by 2030 to register 17.6% CAGR during 2022-2030. The hardware is further sub segmented into telematics control units, navigation system, in-vehicle infotainment units, and others.

In terms of connectivity, the Asia Pacific automotive telematics market is categorized into integrated, tethered, and embedded. The integrated segment held 46.1% share of Asia Pacific automotive telematics market in 2022, amassing US$ 7,723.35 million. It is anticipated to garner US$ 34,020.23 million by 2030 to expand at 20.4% CAGR during 2022-2030.

By vehicle type, the Asia Pacific automotive telematics market is bifurcated into passenger cars and commercial cars. The passenger cars segment held 54.7% share of Asia Pacific automotive telematics market in 2022, amassing US$ 9,159.36 million. It is projected to garner US$ 33,714.81 million by 2030 to expand at 17.7% CAGR from 2022 to 2030.

By application, the Asia Pacific automotive telematics market is segmented into infotainment, remote diagnosis, navigation (GPS), safety and security, and others. The infotainment segment held 26.7% share of Asia Pacific automotive telematics market in 2022, amassing US$ 4,470.71 million. It is anticipated to garner US$ 19,019.27 million by 2030 to expand at 19.8% CAGR during 2022-2030.

By country, the Asia Pacific automotive telematics market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 41.7% share of Asia Pacific automotive telematics market in 2022. It was assessed at US$ 6,983.81 million in 2022 and is likely to hit US$ 27,342.08 million by 2030, registering a CAGR of 18.6% during 2022-2030.

Key players operating in the Asia Pacific automotive telematics market are Verizon Communications Inc; Geotab Inc.; Omnitracs LLC; Samsara Inc; Motive Technologies Inc; ORBCOMM Inc; Trimble Inc; Valeo SE; TomTom NV; Denso Corp; Loft Switzerland AG; and Harman International Industries Inc, among others.

2023: Valeo, a world leader in mobility technology and in electrification of mobility has been chosen by Mahindra & Mahindra (M&M), India's leading SUV manufacturer to provide the electric powertrain for a certain range of their "Born Electric" passenger vehicle platform and on board charger combo for their electric utility vehicles.



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