According to a recent report published by Allied Market Research, titled, China, India, and Southeast Asia Automotive OEM Telematics Market by Vehicle Type and Application: Opportunity Analysis and Industry Forecast, 2017-2023, the automotive OEM telematics market size was valued at $2,545 million in 2016, and is projected to reach at $22,414 million by 2023, growing at a CAGR of 35.2% from 2017 to 2023.
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The earlier generations of fleets in China had poor fuel economy, and were considered the prime polluters of the world. In response to this, the Chinese government mandated the fleet vehicles to be pre-installed with satellite positioning and telematics systems to improve fuel economy and reduce pollution.
The Indian government has also made amendments in the motor vehicles acts, which could facilitate trial runs of automated vehicles. This could bring about a revolution of plying driverless cars on Indian roads. The government will allow the testing of these vehicles once the law is in place.
In 2016, the passenger car segment dominated the automotive OEM telematics market with 45% market share, in terms of revenue. Further, based on application, the solutions subsegment led the market with 64% share in 2016. The fleet management solution led the solution segment in the year 2016 and maintenance & training led the services segment.
Key Findings of the China, India, and Southeast Asia Automotive OEM Telematics Market:
- Passenger cars are projected to continue to maintain their leading position as a widely used vehicle type during the forecast period.
- Solutions would continue to maintain their leading position till 2023.
- Southeast Asia is expected to exhibit promising growth rate over the forecast period.
- OEM telematics industry participants would focus on introducing new products with innovations and partnerships to improve their market share.
The key players profiled in the report include Verizon, Harman, TomTom, AT&T, Vodafone Group PLC, Ford Motors Co., BMW, Telefonica, MiX Telematics, and Trimble Navigation Limited. These market players focus on the development of new technology, launch of novel products with innovative variations, and adoption of partnership and collaboration as key strategies to establish their position in the market.