The APAC automotive telematics market provides connectivity services by integrating telecommunications and wireless technologies with automobiles. Automotive telematics enables many advanced in-vehicle services like vehicle tracking, navigation, emergency assistance, and diagnostics. These services enhance driver and passenger safety, comfort and convenience on the road.
The global APAC Automotive Telematics Market is estimated to be valued at US$ 30 Billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of advanced connected services is accelerating the growth of the APAC automotive telematics market over the forecast period. OEMs are focusing on deploying telematics control units with advanced technologies to offer value-added services to customers. For instance, integrated platforms with the latest connectivity solutions enable features like remote diagnostics, infotainment services, automatic crash notification, and vehicle maintenance to enhance customer experience. Furthermore, rising demand for safety, security, and entertainment options has encouraged automakers to provide advanced features through telematics solutions. This increasing focus on connected vehicles with innovative offerings is expected to drive the APAC automotive telematics market growth significantly in the coming years.
Segment Analysis
The APAC automotive telematics market is dominated by the commercial vehicle segment due to increasing fleet operations and demand for safety and security. The commercial vehicle segment accounts for over 60% of the market share owing to the growing e-commerce and logistics industry in the region.
Key Takeaways
The global APAC Automotive Telematics Market analysis is expected to witness high growth over the forecast period of 2024 to 2031. The global APAC Automotive Telematics Market is estimated to be valued at US$ 30 Billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Regional analysis:
China dominates the APAC automotive telematics market and accounts for over 40% of the market share. This is due to the large vehicle parc and growing penetration of telematics solutions. The commercial vehicle segment is growing rapidly in China led by increasing fleet operations of e-commerce companies. India is the fastest growing market in the region due to strong economic growth and rising vehicle sales over the past few years.
Key players:
Key players operating in the APAC Automotive Telematics Market include Toyota Motor Corporation, BMW Group, Ford Motor Company, General Motors, Volkswagen AG, Hyundai Motor Company, Honda Motor Co. Ltd., and Nissan Motor Co. Ltd. Toyota Motor Corporation dominates the market with over 15% market share in 2024 led by strong telematics solutions for its connected car services. BMW Group also has a significant market share due to advanced telematics offerings for fleet and commercial vehicle customers.
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