Latest news with #automotive telematics
Yahoo
3 days ago
- Automotive
- Yahoo
Automotive Telematics Market to Reach US$349.2 Billion by 2033
The market is rapidly expanding, driven by universal vehicle connectivity and data-centric services. Demand for safety, efficiency, and advanced in-car experiences is pushing automakers to integrate sophisticated, AI-powered solutions as a standard feature. Chicago, Aug. 14, 2025 (GLOBE NEWSWIRE) -- The global automotive telematics market was valued at US$ 70.8 billion in 2024 and is expected to reach US$ 349.2 billion by 2033, growing at a CAGR of 19.4% during the forecast period 2025-2033. Competition within the global automotive telematics market is intensifying, with industry leaders posting remarkable financial and operational figures. Samsara achieved a significant milestone, reaching an annual recurring revenue of $1.1 billion by fiscal year 2024. Its growth is further highlighted by an increase of 611 customers with an annual recurring revenue over $100,000, bringing the total to 1,848 such clients. The company's total revenue for the 2024 fiscal year was reported at US$937 million. Samsara's solid financial footing is evident with total assets valued at US$1.73 billion in 2024, and its workforce expanded to 2,895 individuals as of January 2024. Technologically, its App Marketplace now supports over 270 partner integrations, and the platform's real-world impact is immense, having helped prevent an estimated 200,000-plus crashes. Download Sample Pages: Meanwhile, competitor Verizon Connect was recognized as a leader in the G2 Grid® Report for Fleet Management in Spring 2024, with its platform featuring a rapid 30-second refresh rate for GPS tracking. Corporate investments are also surging—Chinese state-owned SAIC Motor has planned a massive US$ 43 billion investment into advanced automotive technologies, including connected solutions, over five years from 2022. In early 2024, GE launched a new version of its Predix Asset Performance Management software, enhancing predictive analytics for the automotive sector. Penske Truck Leasing also entered the fray, introducing its Catalyst AI platform in April 2024 to redefine fleet management. Key Findings in Automotive Telematics Market Market Forecast (2033) US$ 349.2 billion CAGR 19.40% By Component Hardware (68.50%) By Application Vehicle Tracking Or Recovery Fleet Management (25.30%) By Connectivity Satellite Connectivity (66.30%) By Vehicle Type Passenger Cars (52.60%) By Sales Channel OEM (67.2%) Top Drivers Stringent government regulations mandating vehicle safety and tracking features. Rising consumer demand for advanced in-vehicle connected car services. The growing adoption of electric vehicles needing specialized telematics. Top Trends Integration of AI and machine learning for predictive analytics. The rapid expansion of 5G connectivity enabling V2X communication. Increasing focus on data monetization solutions by automotive OEMs. Top Challenges High initial hardware and implementation costs for advanced systems. Navigating complex data privacy regulations and cybersecurity threats. Ensuring seamless interoperability between different hardware and software platforms. Operational Excellence Redefined Through Advanced Fleet Management and Data Driven Insights Telematics solutions are delivering tangible improvements in fleet operations and efficiency in the global automotive telematics market. A 2024 survey of fleet professionals found the average fleet size to be 103 trucks for GVW Classes 4-8. A separate 2024 European report provided a different regional perspective, noting the average fleet size for survey respondents in Portugal was 137 vehicles. The scale of industry engagement in research is substantial. A key survey from Teletrac Navman was based on data from over 500 global fleet businesses. Similarly, Verizon's 2024 Fleet Trends Report gathered insights from a large sample of more than 2,500 fleet managers and professionals across 11 countries. Efficiency gains are not just about tracking. Leading platforms are automating core business processes. For instance, Samsara's platform has successfully digitized over 230 million workflows, drastically reducing administrative burdens and paperwork for its users. Unprecedented Market Penetration Signals a Future of Ubiquitous Vehicle Connectivity Solutions The adoption of telematics hardware in the is a primary indicator of market expansion. The automotive telematics market is witnessing incredible growth in unit shipments. Total shipments of embedded Original Equipment Manufacturer (OEM) telematics systems reached an estimated 64.5 million units globally in 2024. Projections for 2029 anticipate these shipments will surge to 82.1 million units. Active subscriptions tell a similar story of robust growth. The number of active embedded telematics subscriptions is projected to be 286.6 million in 2024. By 2029, this number is forecast to nearly double, reaching 528.1 million. The North American commercial vehicle telematics sector is particularly strong. It accounted for 9.03 million units in 2024 and is expected to grow to 10.53 million units in 2025. Looking further ahead, projections for 2030 suggest the North American market will encompass 20.53 million units. Globally, with approximately 27.45 million commercial vehicles sold in 2023, the addressable market for telematics providers remains vast and full of potential. Usage Based Insurance Transforms Risk Assessment Models for Insurers and Policyholders The insurance industry is a key beneficiary of telematics data in the automotive telematics market. Usage-Based Insurance (UBI) is moving from a niche product to a mainstream offering. Globally, out of 875 million total auto insurance policies, approximately 20 million are now usage-based. These policies leverage real-time driving data to create more accurate and personalized risk profiles. The mobile UBI segment, which uses smartphone technology instead of dedicated hardware, has also expanded significantly. It now accounts for 4.8 million policyholders worldwide. A shift represents a fundamental change in how insurance risk is calculated. Insurers can reward safer driving behavior, while consumers gain more control over their premiums. The Digital Exhaust Stream Fuels Big Data Analytics and Sustainable Operations Connected vehicles are generating an unprecedented volume of data. Leading platforms in the automotive telematics market are harnessing information for powerful analytics and operational improvements. Samsara's platform, for example, processed over 9 trillion data points from its connected devices in fiscal year 2024 alone. The sheer scale of data processing is enabled by a robust infrastructure. The platform supported a volume of over 75 billion API calls during the same period. Beyond operational metrics, data is also driving sustainability efforts. Through route optimization and improved driver behavior, Samsara's platform has contributed to saving approximately 2.3 billion pounds of carbon emissions. A fact demonstrates the growing role of the automotive telematics market in helping corporations meet environmental, social, and governance (ESG) goals. Astounding Financial Implications of Vehicle Accidents Underscore Telematics' Intrinsic Value Proposition The financial argument for telematics adoption becomes crystal clear when examining accident costs. The average cost of a crash involving a medium to heavy truck is a staggering $148,279. For a typical commercial truck accident, the average cost for basic health and property damage is $334,892. If a semi-truck is pulling multiple trailers, the average accident cost escalates dramatically to $1.2 million. The costs associated with a fatality are even more profound, with a commercial truck accident resulting in a death having an average cost of $7.2 million. Even a non-fatal, work-related crash carries a significant financial burden, with an average cost of around $75,000 in the automotive telematics market. According to OSHA, even a "best-case" fleet accident scenario involves approximately $16,500 in damages and $57,500 in injury-related costs. An at-fault accident with a luxury vehicle can result in property damage costs between $50,000 and $100,000 alone. Furthermore, the average reduction in a vehicle's value after a crash is around $500, with some estimates closer to $2,200 for higher-end vehicles. These figures powerfully illustrate the immense return on investment offered by safety-focused telematics solutions. Global Adoption Rates Soar as Regional Markets Rapidly Embrace Embedded Telematics Different regions are at various stages of telematics adoption, but all show strong upward trends. In 2024, an estimated 79% of all new cars sold worldwide were equipped with an OEM-embedded telematics system. Europe (EU27+EFTA+UK) is leading the charge, driven by regulation. The attach rate for telematics in Europe is expected to reach 100% by 2025. A figure is up from an already high 97% in 2024, largely due to the eCall mandate. North America also demonstrates mature adoption with a high telematics attach rate of about 93% in 2024. China's dynamic automotive telematics market is also expanding quickly, with its telematics attach rate reaching 84% in 2024. These high penetration rates signify a global consensus on the value of connected vehicle technology. Need a Customized Version? Request It Now: Advanced Hardware Integration and Accessible Pricing Fuel Widespread Commercial and OEM Adoption The growth of the automotive telematics market is supported by both technological advancement and accessible business models. Service providers are making powerful technology available at manageable costs. Samsara, for instance, offers its comprehensive telematics solution for a price point of around $27 per vehicle per month. Such pricing makes advanced fleet management accessible to businesses of all sizes. On the hardware front, integration is becoming seamless. Component supplier Valeo is supplying a state-of-the-art 4G communication module for Renault's highly anticipated 2025 Scenic E-TECH model. Similarly, automakers are embedding connectivity directly into their latest vehicles. Hyundai's 2024 Venue and Creta models now come equipped with 4G-enabled BlueLink telematics. A trend towards deep integration ensures that connectivity is no longer an afterthought but a core feature of modern vehicles, paving the way for continued market expansion. Global Automotive Telematics Market Major Players: Robert Bosch GmbH Continental AG LG Electronics Verizon Harman International Delphi Automotive Plc Visteon Corporation Magneti Marelli S.P.A. Tomtom International BV Qualcomm Technologies Inc. Intel Corporation Trimble Inc AT&T Octo Telematics Airbiquity Inc. Masternaut Limited The Descartes Systems Group Inc. Box Telematics Act Soft Other Prominent Players Key Market Segmentation: By Component segment: Hardware Self-contained Telematics Units (TCU) GPS Devices Software Platform Services Consulting Implementation Maintenance Telematics as a Service By Application: Automatic Crash Notification Billing Services Driver Behavior Emergency Calling Insurance Risk Assessment Navigation On-Road Assistance Remote Diagnostics Vehicle Tracking/Recovery (Fleet Management) Others By Vehicle Type: Light Commercial Vehicles Passenger Car Electric Vehicles ICE Vehicles Heavy Vehicles Two-Wheeler Others By Connectivity: Satellite Cellular By Sales Channel: Aftermarket OEMs By Region: North America Europe Asia Pacific Middle East & Africa (MEA) South America Explore the Report Before You Buy – Book a Walkthrough: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ Follow us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website:
Yahoo
07-08-2025
- Automotive
- Yahoo
Automotive Telematics Market worth $16.72 billion by 2032
DELRAY BEACH, Fla., Aug 7, 2025 /PRNewswire/ -- The automotive telematics market is projected to grow from USD 10.02 billion in 2025 to USD 16.72 billion by 2032 at a CAGR of 7.6%, according to a new report by MarketsandMarkets. The automotive telematics market is driven by the growing shift toward software-defined vehicles, where telematics plays a key role in enabling connectivity for diagnostics, remote services, and feature upgrades. Rising adoption of over-the-air (OTA) updates, usage-based insurance (UBI), and fleet management solutions is expanding the role of telematics beyond navigation and tracking. Regulatory mandates in EU countries, India, and China are pushing OEMs to integrate telematics for real-time energy consumption and emissions reporting. In China, regulations such as the New Energy Vehicle National Monitoring Platform require OEMs to transmit real-time vehicle data, including battery status, location, and alerts, to a centralized government platform for all electric and hybrid vehicles. Additionally, the rollout of 5G and V2X communication technologies is enabling faster, low-latency data exchange, further accelerating advanced telematics applications. Download an Illustrative overview: Browse in-depth TOC on "Automotive Telematics Market" 304 - Tables102 - Figures366 - Pages Software segment to grow at fastest rate in automotive telematics market during forecast period Telematics systems increasingly rely on intelligent software platforms to deliver connectivity, data processing, and feature-rich services. Software enables dynamic capabilities such as predictive maintenance, real-time vehicle diagnostics, OTA updates, and remote command execution, which are essential for modern connected vehicles. The shift toward software-defined vehicles is accelerating demand for modular, cloud-integrated telematics software that can scale across models and markets. OEMs and Tier 1 suppliers are investing heavily in in-house and partner-developed software stacks to differentiate user experiences and enable monetizable services. For instance, in May 2025, Toyota announced that it was developing its proprietary software platform called Arene, which was first rolling out in its RAV4 model. Arene will support OTA functionality along with driving assistance and infotainment services. Additionally, software allows integration of third-party APIs for insurance, infotainment, and fleet management platforms. These APIs enable telematics systems to share real-time vehicle data with external services, supporting features such as usage-based insurance, personalized infotainment experiences, and efficient fleet tracking and diagnostics. Telematics software is now being developed using container-based architectures, with AI analytics and edge computing to improve speed and reduce delays. At the same time, cybersecurity features are being integrated to meet data privacy laws and regulatory requirements. 4G cellular connectivity to hold largest share of automotive telematics market during forecast period 4G cellular connectivity is expected to lead the automotive telematics market during the forecast period, primarily due to the widespread availability of 4G infrastructure across most global markets, including emerging economies. Unlike 5G, which is still in the early stages of rollout in emerging economies and concentrated in urban areas, 4G offers broader and more stable coverage at lower deployment and operational costs. Its technical maturity also ensures compatibility with a wide range of vehicle platforms and telematics applications such as real-time tracking, remote diagnostics, and OTA updates. OEMs are increasingly integrating 4G into entry- and mid-segment vehicles, often pairing it with edge computing to enable faster and more responsive telematics functions. For instance, Hyundai's 2024 Venue and Creta models come equipped with 4G-enabled BlueLink telematics, offering services such as remote vehicle control, live location tracking, and vehicle health monitoring. Other models, such as the Toyota Corolla, Kia Sonet, Honda Civic, and Toyota Camry, also feature 4G-based telematics platforms. Companies such as LG Electronics (South Korea), HARMAN International (US), and Valeo (France) are also enhancing their connectivity modules. For instance, in May 2025, LG unveiled a next-gen TCU that combines 4G LTE, 5G Rel-16, and satellite V2X capabilities, with embedded antennas and edge computing for enhanced coverage and resiliency. In March 2025, HARMAN announced its Ready Connect TCU, which still supports 4G LTE fallback and integrates satellite-based reliability in partnership with Skylo, ensuring uninterrupted telematics even in remote areas. Further, Valeo provided a 4G communication module to Renault (France) for its 2025 Scenic E-TECH model in France. Thus, 4G cellular connectivity is likely to continue to serve as a stable backbone for mainstream telematics applications even as 5G adoption rises in premium segments. North America to hold significant share of automotive telematics market during forecast period North America is expected to hold a significant share of the automotive telematics market during the forecast period, due to its advanced infrastructure, high penetration of connected vehicles, and rapid fleet modernization across commercial and consumer segments. The Electronic Logging Device (ELD) mandate in the US, enforced by the Federal Motor Carrier Safety Administration (FMCSA), requires commercial drivers to use electronic devices to record their driving hours. This rule has led to a significant increase in telematics adoption, particularly among fleet operators. Agencies such as the National Highway Traffic Safety Administration (NHTSA) in the US and Transport Canada require reporting on crash data, vehicle defects, and the use of event data recorders (EDRs). Telematics systems support these requirements by automatically collecting and submitting relevant data. In addition, programs related to vehicle-to-infrastructure (V2I) and connected vehicle data-sharing, such as the US Department of Transportation's Connected Vehicle Program, encourage the use of telematics for traffic and safety monitoring. As a result, OEMs and large fleets are increasingly adopting built-in telematics solutions to meet regulatory requirements while also improving diagnostics, driver safety, and operational efficiency. For instance, established North American OEMs such as Ford Motors, General Motors, and Tesla provide embedded telematics features in their vehicles. The increasing interest in autonomous driving is further expected to propel the telematics market expansion as advanced technologies are integrated into vehicles. Key Market Automotive Telematics Industry: Prominent players in the Automotive Telematics Companies include LG Electronics (South Korea), HARMAN International (US), Denso Corporation (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany), Aptiv (Ireland), Valeo (France), Visteon Corporation (US), Marelli Holdings Co., Ltd. (Japan), Infineon Technologies AG (Germany). Get 10% Free Customization on this Report: This report provides insights on: Analysis of key drivers (surging demand for connected vehicles and in-car digital services, increasing adoption of remote diagnostics to enhance vehicle efficiency, telematics-driven optimization in fleet management and logistics), restraints (regulatory complexities around usage-based insurance models, data privacy and cybersecurity concerns), opportunities (expansion of IoT and next-gen connectivity technologies, convergence of advanced analytics, generative AI, and smart city integration, heightened emphasis on vehicle safety and security through mandates), and challenges (limited user acceptance and behavioral resistance, absence of industry-wide standardization). Product Development/Innovation: Detailed insights on upcoming technologies and research & development activities in the automotive telematics market Market Development: Comprehensive information about lucrative markets (the report analyzes the automotive telematics market across varied regions) Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the automotive telematics market Competitive Assessment: In-depth assessment of market share, growth strategies, and product offerings of leading players such as LG Electronics (South Korea), HARMAN International (US), Denso Corporation (Japan), Continental AG (Germany), and Robert Bosch GmbH (Germany) in the automotive telematics market. Related Reports: In-Vehicle Infotainment Market Connected Car Market Car as a Connected Living Ecosystem Get access to the latest updates on Automotive Telematics Companies and Automotive Telematics Industry Growth About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. 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