Telematics can be described as the technology which allows electronic devices to communicate with each other and humans over a specific network. A telematics system has been integrated into various applications like telecommunications, road transportation, etc. The telematics device usually transmits measurements from one location to another. Over the years, the biggest adopter of telematics technology has been the automotive industry. Automotive telematics allows a wireless communication link between multiple machines as well as other systems in real-time. Thus, the Consumer Telematics Systems Market is very well placed to register strong growth during the forecast period of 2016-2022.
Scope & Regional Forecast of the Consumer Telematics Systems Market
In 2013, the Consumer Telematics Systems Market registered a revenue of $51.5 Billion as telematics companies gradually understood the potential of the technology in their hands. By 2022, the revenue of the Consumer Telematics Systems Market is expected to exceed $140 Billion. The CAGR for the consumer telematics industry is set to be 23% till at least 2020 as adoption of telematics solutions is expected to rise at an extremely rapid pace.
The next big opportunity for the Consumer Telematics Systems Market is the spread of big data and cloud-based services. Customer feedback systems through tracking devices or help enterprises to provide an extremely personalized experience to each and every individual. This kind of telematics technology has been boosted by falling costs of 3G and 4G connectivity. As smartphone usage rises, data on all kinds of everyday situations is expected to throw light on cutting-edge insights.
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Segmentations & Key Players Involved in the Consumer Telematics Systems Market
The Consumer Telematics Systems Market can be broken down into various segmentations on the basis of –
Industry: Automotive, Information Technology, Telecom, Insurance, Logistics and Customer service providers.
Services Offered: GPS Tracking, Navigation Systems(Intelligent Transport System), Car Diagnostics System, Fleet Management Services, User based Insurance service(UBI), Emergency Notification Service, Local Search and Concierge Services and Infotainment Systems.
Components: Control Unit, On-board RAM, Network Operations System, CAN-bus (Controller Area Network), Wireless communication infrastructure, GPS antenna, GNSS receiver, Visual & Audio interface, Sensors and Mobile Router.
Markets: Passenger Vehicle Telematics and Commercial Vehicle Telematics.
Technology: Integrated Telematics, Embedded Telematics and Tethered Telematics.
Geographical Location: North & South America, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Consumer Telematics Systems Market are as follows:
General Motors (OnStar)
Agero Connected Services Inc.
Bosch Automotive Technologies
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