At 17.5% CAGR, Europe Automotive Telematics Market is Projected to be worth US$ 35,591.64 million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe automotive telematics market was valued at US$ 9,821.65 million in 2022 and is expected to reach US$ 35,591.64 million by 2030, registering a CAGR of 17.5% from 2022 to 2030. Rising adoption of connected cars and increasing adoption of intelligent telematic solutions are among the critical factors attributed to drive the Europe automotive telematics market growth.

The automobile industry has fundamentally transformed the connected car market in recent years. Vehicles in this dynamic industry are distinguished by their advanced sensor, communication, and software capabilities, which allow them to link to the internet, other vehicles, infrastructure, and numerous digital platforms. This has resulted in increasing consumer demand for connectivity and convenience. Consumers now expect seamless integration of their smartphones, access to navigation and entertainment apps, and the ability to monitor and control their vehicles remotely. Businesses and industries are further exploring the potential of connected fleets for improved logistics, fuel efficiency, and vehicle management. The rising adoption of car connectivity for exchanging data with external systems for infotainment automated safety features drives the Europe automotive telematics market growth. Volkswagen Group's connected car sales increased by 12% in 2022. BMW Group reported sales of 2.5 million units of connected cars, showing a growth of 8.4% in 2021 compared to 2020. The growth in connected car sales has created a massive demand for automotive telematics solutions. The connected cars consist of several telematics solutions such as GPS tracking devices, buzzers, and input and output devices. 

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

Based on application, the Europe automotive telematics market is bifurcated into hardware and software & services. The hardware segment held 61.1% market share in 2022, amassing US$ 5,998.57 million. It is projected to garner US$ 19,648.94 million by 2030 to register 16.0% 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 Europe automotive telematics market is categorized into integrated, tethered, and embedded. The embedded segment held 46.0% share of Europe automotive telematics market in 2022, amassing US$ 4,519.41 million. It is anticipated to garner US$ 16,217.48 million by 2030 to expand at 17.3% CAGR during 2022-2030.

By vehicle type, the Europe automotive telematics market is bifurcated into passenger cars and commercial cars. The passenger cars segment held 63.6% share of Europe automotive telematics market in 2022, amassing US$ 6,247.97 million. It is projected to garner US$ 20,559.54 million by 2030 to expand at 16.1% CAGR from 2022 to 2030.

By application, the Europe automotive telematics market is segmented into infotainment, remote diagnosis, navigation (GPS), safety and security, and others. The infotainment segment held 25.7% share of Europe automotive telematics market in 2022, amassing US$ 2,527.41 million. It is anticipated to garner US$ 9,644.18 million by 2030 to expand at 18.2% CAGR during 2022-2030.

By country, the Europe automotive telematics market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 25.8% share of Europe automotive telematics market in 2022. It was assessed at US$ 2,530.17 million in 2022 and is likely to hit US$ 9,554.07 million by 2030, registering a CAGR of 18.1% during 2022-2030.

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

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