At 15.4% CAGR, South & Central America Automotive Telematics Market is Projected to be worth US$ 6,141.92 million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America automotive telematics market was valued at US$ 1,953.59 million in 2022 and is expected to reach US$ 6,141.92 million by 2030, registering a CAGR of 15.4% from 2022 to 2030. Mounting adoption of IoT and AI in fleet management and rising adoption of connected cars are among the critical factors attributed to drive the South & Central America automotive telematics market growth.

IoT-enabled telematic devices optimize customer services and enhance vehicle maintenance management. With an IoT-integrated automotive telematics platform, communication and data retrieval become easy via smartphone applications and help in condition monitoring of the vehicle. Several companies are adopting the Sixt, and mobility service providers have adopted IoT-enabled automotive telematics systems via applications to optimize business operations. With this, app, customers connected more than 280,000 vehicles and connected with around 1.5 million drivers across 110 countries globally. The rising adoption of IoT and connected cars is a major trend in the South & Central America automotive telematics market. Several leading players are partnering with IoT solutions providers to enhance automotive capabilities. For instance, Aeris IoT and Sify solution provider integrated their IoT solutions for connected cars that minimize idle time and offer real-time vehicle tracking. Aeris IoT solutions providers have integrated the IoT Network, and the company has optimized more than 600 carriers across 190 countries. Further, Axon Telematics, a supplier of telematics solutions, partnered with Aeris to deploy an automotive telematics product to manage the real-time vehicle location. Axon deployed its product that collects drivers' behavior data to help insurers determine the vehicle's real-time location and provides a self-activation and self-installation system for vehicle policyholders. The logistics and transportation industry is implementing IoT for real-time vehicle location tracking. The growing adoption of smart tracking and environment monitoring (STEM) devices among consumers and transportation companies drives the growth of the South & Central America automotive telematics market. IoT-enabled devices track real-time GPS locations and help manage ambient temperature, pressure, humidity, goods mishandling, and several other parameters. It assures the smooth handling of goods throughout the transportation supply chain. Further, rising advancements in telematics gateways helped transportation and logistics companies optimize routing for better efficiency, monitoring the fleet's health, and improving the overall safety of the drivers.

On the contrary, the data privacy and security concerns hampers the growth of South & Central America automotive telematics market.

Based on offering, the South & Central America automotive telematics market is segmented into hardware and software & services. The hardware segment held 62.0% market share in 2022, amassing US$ 1,211.44 million. It is projected to garner US$ 3,392.78 million by 2030 to register 13.7% 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 South & Central America automotive telematics market is categorized into integrated, tethered, and embedded. The integrated segment held 39.7% share of South & Central America automotive telematics market in 2022, amassing US$ 774.75 million. It is anticipated to garner US$ 2,881.46 million by 2030 to expand at 17.8% CAGR during 2022-2030.

By vehicle type, the South & Central America automotive telematics market is bifurcated into passenger cars and commercial cars. The passenger cars segment held 63.8% share of South & Central America automotive telematics market in 2022, amassing US$ 1,246.86 million. It is projected to garner US$ 3,443.18 million by 2030 to expand at 13.5% CAGR from 2022 to 2030.

By application, the South & Central America automotive telematics market is segmented into infotainment, remote diagnosis, navigation (GPS), safety and security, and others. The infotainment segment held 25.7% share of South & Central America automotive telematics market in 2022, amassing US$ 501.37 million. It is anticipated to garner US$ 1,641.59 million by 2030 to expand at 16.0% CAGR during 2022-2030.

By country, the South & Central America automotive telematics market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 81.8% share of South & Central America automotive telematics market in 2022. It was assessed at US$ 1,598.04 million in 2022 and is likely to hit US$ 5,171.50 million by 2030, registering a CAGR of 15.8% during 2022-2030.

Key players operating in the South & Central America automotive telematics market are Denso Corp, Harman International Industries Inc, Luxoft Switzerland AG, Omnitracs LLC, TomTom NV, Trimble Inc, and Valeo SE, among others.

2022: ORBCOMM Inc., a global provider of Internet of Things (IoT) solutions, announced that it has added new feature enhancements to its data-driven truck telematics solution to improve the visibility, efficiency, safety and experience for fleets, drivers and their customers.



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