Automotive Telematics Market Outlook and Opportunities in Growing Regions

The increasing requirement of enhanced safety features in automobiles is one of the biggest reasons responsible for the surging demand for automotive telematics systems across the world. Additionally, the rising demand for efficient road traffic systems is further boosting the progress of the automotive telematics market. Furthermore, the increasing prevalence of road accidents and deaths, especially in the U.S., China, and India is causing the growing integration of advanced security features and systems in automobiles all over the world.

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The soaring popularity of connected cars is another important factor propelling the growth of the automotive telematics market. Owing to their ability to provide numerous advantages to the users such as vehicle-to-infrastructure (V2I) and vehicle-to-vehicle (V2V) interfaces, connected cars are being increasingly preferred by people in several countries around the world. In addition to this, the integration of advanced features such as roadside assistance, smartphone connectivity, traffic and collision warning, real-time traffic monitoring, and automobile diagnostics in connected cars contribute tremendously toward their growing popularity throughout the world.

Geographically, North America registered the highest utilization of telematics solutions in automobiles in 2019. Moreover, the region recorded the highest growth in the automotive telematics market in 2019 and this trend is predicted to continue during the forecast period as well. This is fundamentally due to the increasing integration of connected technology in vehicles in the region. However, the automotive telematics market is expected to register the fastest growth in the Latin America, Middle East, and Africa (LAMEA) region from 2020 to 2030.

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Thus, the incorporation of telematics solutions will increase massively in automobiles in the future years, primarily because of the increasing incidence of road accidents and deaths and the growing demand for enhanced safety features and systems in vehicles all over the globe.