The growth of the global telematics market is being driven
due to several factors, including government initiatives to include advanced
technology in public safety on roads, increasing demand for premium passenger
cars and growing demand for connectivity in vehicles. The use of telematics has
been constantly increasing in insurance sector for tracking the driving
conditions to calculate precise vehicle insurance premium.
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North America dominated the global market; however
Asia-Pacific is estimated to grow at the highest pace during the forecast
period. The high cost of telematics equipment and hacking threats are the key
restraints in the global market. The poor internet infrastructure in the
developing countries is also hindering the adoption of telematics.
With the advancement in technology, the demand for
connectivity is increasing everywhere. Vehicle telematics, trailer tracking,
and container tracking are the common application areas of telematics. They are
used to transform automobiles into communication objects. Earlier telematics were
integrated only on premium vehicles; now it’s either offered as standard
feature on select vehicles, or as an option for the low-priced vehicles. It
also enables patient’s health tracking while travelling.
In order to assure vehicular safety, the government in
several countries has been promoting the use of telematics in vehicles. For
instance, eCall project promoted by European Commission (EC) was adopted in
Europe in 2013. eCall is targeted to provide assistance to motorists, who have
met with road accident and are unable to speak due to injuries. It is
applicable for the vehicles in which telematics is installed.
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The government of China rolled out a program in 2014 that
promotes the use of fleet management solution in every vehicle. In Brazil, a
program known as SIMRAV has been introduced to monitor and control crimes
associated with vehicles. This program is also operated with the help of telematics.
The key competitors in the global telematics market include
Verizon Communication Inc., Harman International Industries Inc., TomTom
International BV, AT&T, Vodafone Group Plc, Ford Motor Company, BMW Group,
Telefonica SA, MiX Telematics, Trimble Navigation Ltd.
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