Automotive Telematics Market is Expected to Expand at a CAGR of 9.9% During 2018 - 2026 - Persistence Market Research - Seite 2

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On the flip side, lack of awareness regarding wireless technology and heterogeneous language and culture are projected to hinder the growth of the APAC automotive telematics market. In Asia, multiple languages are used, very unlike the United States where English is the default language. Automotive telematics service providers need to integrate product/content localization as well as customized user interface design to accommodate the diversity in language and culture in Asia.

Global and APAC Automotive Telematics Market Forecast 

From a regional perspective, Europe is projected to dominate the global automotive telematics market. In 2018, the estimated value for Europe is US$ 14,555 Mn, i.e. a 34.1% value share. By 2020, this value is projected to reach US$ 27,554 Mn, i.e. a 34.0% value share. North America is projected to be the second largest market for automotive telematics, owing to the increasing penetration of telecom services such as car connecting technology during the forecast period. The APAC region is projected to grow with a remarkable growth rate in the global automotive telematics market, owing to the increasing production of passenger vehicles and commercial vehicles over the stipulated time period.

Automotive Telematics Market Segmentation By Vehicle Type - Passenger, Commercial; By Technology Type - Embedded, Tethered, Smart Phone; By Sales Channel - OEM, Aftermarket; By End User - Infotainment, Diagnosis, Navigation, Safety & Security, Others: https://www.persistencemarketresearch.com/market-research/automotive-telematics-market.asp

By vehicle type, the passenger segment is projected to dominate the automotive telematics market, owing to the increasing demand, coupled with government initiatives, particularly for vehicle safety and security. The passenger vehicle segment is projected to be valued at US$ 10,608 Mn and account for an 87.0% value share in the APAC automotive telematics market by 2018 end. By 2026, this value is projected to reach US$ 22,118 Mn and account for an 85.3% value share.

By technology type, the embedded segment is projected to dominate the APAC automotive telematics market, owing to the increasing number of vehicle safety regulations in the region. The embedded segment is projected to be valued at US$ 9,392 Mn and account for a 77.0% value share in the APAC automotive telematics market by 2018 end. By 2026, it is projected to reach US$ 20,800 Mn, accounting for an 80.2% value share with a CAGR of 10.5% during the forecast period.