The global APAC Automotive Telematics Market is estimated to be valued at US$ 22275.64 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Automotive telematics refers to the transmission of data through wireless communication devices installed in vehicles. It provides connectivity and helps in navigation, tracking vehicle location, vehicle diagnostics and remote operations. Through telematics solutions, vehicles stay connected with external infrastructure and receive real-time information to enhance driver safety and infotainment.

Market key trends:

One of the major trends in the APAC automotive telematics market is the rising demand for connected car services. Connected car services such as emergency assistance, vehicle diagnostics, infotainment applications and navigation assist drivers in situations of distress or provide entertainment on the go. These services enhance the driving experience and safety of users. With advances in connectivity technologies and falling costs of telematics solutions, OEMs are increasingly offering connected car services with new vehicle models to gain competitive advantage. This is expected to fuel the adoption of automotive telematics in APAC region during the forecast period.

The APAC automotive telematics market has been witnessing increasing adoption of connectivity solutions by automakers in recent years. One of the key trends in this market is the growing demand for integrated telematics control units (TCUs) that offer varied functionalities like navigation, infotainment, fleet/asset management, and emergency calling. These multi-featured TCUs allow automakers to bundle various services and solutions, helping improve the consumer experience. Furthermore, the rising need for safety and tracking of fleet/commercial vehicles has boosted the deployment of fleet management systems in several APAC countries. The integration of advanced technologies like artificial intelligence, machine learning and cloud computing is another evolving trend, helping telematics players analyze driving patterns and driver behavior for improving safety and assistance offerings.

SWOT Analysis

Strengths: Early adoption of advanced driver assistance systems and connectivity in premium vehicles. Growing focus of OEMs in developing customized mobility solutions.

Weaknesses: Limited infrastructure in rural areas act as a barrier. High component costs initially.

Opportunities: Increasing deployment of commercial vehicle tracking systems. Surging demand for used car management and insurance telematics.

Threats: Cybersecurity issues and data privacy can hamper the growth. Competition from emerging navigation and communication service providers.

Key Takeaways

The Global APAC automotive telematics market Size is expected to witness high growth, exhibiting CAGR of 14% over the forecast period 2023 to 2030, due to increasing consumer demand for convenience, safety, and entertainment features in vehicles.

Regional analysis:

China dominates the APAC automotive telematics market and is expected to continue its lead, growing at a CAGR of over 15% during the forecast period. This can be attributed to the conducive regulatory environment promoting connected mobility in the country. India is projected to emerge as the fastest growing country in the region on account of rising vehicle parc and burgeoning fleet & transportation industry. Other major markets include Japan, South Korea and Australia.

Key players:

Key players operating in the APAC Automotive Telematics Market are Denso Corporation, Panasonic Corporation, Clarion, Masternaut Limited, Continental AG, Qualcomm Technologies, Inc., LG Electronics, Harman International Industries, Inc., Trimble Inc., and I.D. Systems.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it