The APAC automotive telematics market is expected to be worth US$ 93.9 billion in 2023, rising to US$ 414.5 billion by 2033. From 2023 to 2033, APAC automotive telematics sales are predicted to expand at a 16% CAGR.
The APAC automotive telematics market increased significantly between 2018 and 2022, owing to increasing technical breakthroughs and increased production of both passenger and commercial cars.
With the automotive sector planning to use next-generation automotive communication techniques such as automotive telematics, the industry has seen widespread adoption in a variety of applications such as safety and security, navigation, and infotainment, among others.
The growing need for satellite navigation services, and the growing popularity of in-car mobile communications among drivers, are opening up new potential for automotive telematics companies. Additionally, contributions from OEMs in the APAC automotive telematics market, as well as increasing demand for embedded systems or technology-based solutions in terms of low cost and ease of management, might drive market expansion.
Increasing regulatory efforts and severe legislation governing the implementation of telematics systems for passenger safety and security in nations such as India, China, Japan, and Australia are expanding the usage of automotive telematics.
Telecom infrastructure has grown significantly in countries such as Australia, Japan, India, China, and other countries in South Asia as a result of favorable government efforts.
Key Takeaways:
- In the last five years, the market has expanded at a CAGR of 9%.
- FMI forecasts significant growth for APAC vehicle telematics in China, with the market rising at a 15% CAGR through 2033.
- According to FMI’s analysis, the United Kingdom is expected to lead Europe’s AGV market, increasing at a healthy 14.5% CAGR during the projection period.
- The market’s main players control roughly 60% of the market.
- China accounts for more than half of both revenue and market share in the APAC automotive telematics industry.
Competitive Landscape
Leading players are concentrating their efforts on increasing their present wide product offers. Moreover, increasing research spending to develop superior products is another important technique for market companies to maintain their market position.
- On July 21, 2022,Guidepoint Systems, a leading global provider of automotive telematics and SaaS for OEMs announced an agreement with Stellantis’ global fleet, accessibility, and linked data brand, Free2move, to utilize vehicle-embedded telematics data.
In June 2023, Directed Technologies officially established a linked Mobility Innovation Centre, allowing it to meet increasing global demand for its linked car technology and IoT solutions that save lives, reduce pollution, and increase efficiency. Over 2,500 vehicle fleets now use the organization’s telematics devices globally, including significant truck companies such as PACCAR (Kenworth and DAF), HINO, and Mercedes-Benz.
