The "Global Vehicle Telematics Hardware Market 3rd Edition" report has been added to ResearchAndMarkets.com's offering. The addressable market for aftermarket telematics solutions is significant. At t...
Autore: Business Wire
DUBLIN: The "Global Vehicle Telematics Hardware Market 3rd Edition" report has been added to ResearchAndMarkets.com's offering.
The addressable market for aftermarket telematics solutions is significant. At the end of 2022, an estimated 1.52 billion vehicles were registered worldwide. 47.3 million aftermarket telematics hardware devices were sold globally during 2023 for a total market value of approximately € 2.2 billion. Asia-Pacific is the largest geographical market, achieving shipments of about 17.1 million in 2023. The shipments of aftermarket telematics hardware in Europe and North America accounted for 11.6 million and 11.2 million respectively.
Global shipments of aftermarket telematics devices is forecast to will grow at a compound annual growth rate (CAGR) of 8% in the next five years to reach 69.3 million in 2028. Revenues from sales of aftermarket telematics devices are forecasted to grow from € 2.2 billion in 2023 to € 3.1 billion in 2028, representing a CAGR of 6.8%.
Teltonika was the market leader in terms of aftermarket hardware sales with a market share of about 6.8 percent, reaching annual sales of € 153 million in 2023. Xirgo Technologies was the runner-up with a market share of around 4.4 percent in terms of sales. Additional top players include Jimi IoT, Queclink and CalAmp. Jimi IoT ranked third in terms of sales with a market share of about 4.2 percent while Queclink and CalAmp ranked fourth and fifth with a market share of roughly 3.0 percent each.
Notable vendors further include ERM Advanced Telematics from Israel; Positioning Universal and Danlaw from North America; Suntech International, Gosuncn RichLink, Neoway Technology, Sinocastel, Coban Electronics, Gosafe, Kingwo and ATrack from Asia-Pacific; Meta System, Ruptela and Munic from Europe; and Maxtrack from Latin America.
Automotive manufacturers can choose between connectivity options such as embedded and handset-based when creating connected car services, which are not mutually exclusive. Embedded solutions use cellular communications hardware inside the vehicle, whereas handset-based solutions use a tethered device such as the driver's smartphone for connectivity. This report mainly focuses on embedded telematics solutions. Several categories of telematics applications are now offered by most leading vehicle manufacturers. Examples include eCall and roadside assistance, stolen vehicle tracking (SVT), vehicle diagnostics, over-the-air updates, connected navigation and infotainment, fleet management, Wi-Fi hotspots, concierge services and convenience applications. The drivers behind the adoption of OEM telematics are both commercial and regulatory.
There are also numerous OEM telematics offerings from commercial vehicle manufacturers, provided either independently or in collaboration with third parties including leading aftermarket telematics providers. These OEM solutions are expected to achieve increased adoption and to an increasing extent be delivered as standard.
The analyzer estimates that global shipments of OEM telematics hardware for both passenger cars and commercial vehicles reached 68.4 million units in 2023 at a total market value of € 8.6 billion. Also the estimation says that nearly 74 percent of all new passenger cars and commercial vehicles sold worldwide in 2023 were equipped with an OEM-embedded telematics system, up from nearly 72 percent in 2022.
The design and development of OEM telematics systems are complex as these have to integrate with vehicle systems, fulfil strict quality standards and ensure performance during the long lifecycle of a vehicle model. For this reason, the OEM telematics equipment suppliers are generally established automotive suppliers that develop their solutions in cooperation with car manufacturers.
LG Electronics is the market leader in terms of OEM telematics shipments with a market share of about 26%. The company has contracts with leading automotive brands such as General Motors and Volkswagen. Continental and Harman were the runners-up with market shares of about 16 and 10 percent respectively. Other OEM telematics hardware vendors include Valeo, Marelli, Denso, Actia, Lear, Bosch, Gosuncn WeLink, Huawei, Neusoft Corporation, Lianyou Technology, Hyundai Mobis, Visteon and Aptiv.
The report answers the following questions
Highlights from the report
Key Topics Covered:
1 The Passenger Car and Commercial Vehicle Market
1.1 Introduction
1.1.1 Vehicles in use by region
1.1.2 New vehicle registration trends
1.2 Automotive and commercial vehicle telematics
1.2.1 Vehicle management
1.2.2 Vehicle diagnostics and maintenance planning
1.2.3 Security tracking
1.3 Aftermarket and OEM telematics infrastructure
2 Market Forecasts and Trends
2.1 Aftermarket telematics hardware forecast
2.2 OEM telematics hardware forecast
2.3 Value chain analysis
2.4 Market trends
Company Profiles and Strategies
Specialised aftermarket hardware vendors
Vertically integrated telematics and fleet management vendors
OEM telematics hardware suppliers
For more information about this report visit https://www.researchandmarkets.com/r/8qdt19
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Fonte: Business Wire