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Car Sharing Telematics Market Trends

Report ID: GMI7954
Published Date: Jan 2024
Report Format: PDF

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Car Sharing Telematics Market Trends

The car sharing telematics industry is witnessing noteworthy growth fuelled by the growing partnerships, particularly in cloud computing. Collaborations between car sharing platforms and cloud service providers are optimizing data management, storage, and real-time connectivity. This synergy is enhancing the scalability and efficiency of telematics solutions, enabling seamless sharing of driving data. Owing to the robust cloud computing advancements, these strategic partnerships are playing a pivotal role in shaping the future of car sharing telematics, offering innovative and integrated solutions to cater to evolving mobility needs.

To cite an instance, in May 2022, Hertz, the global car rental leader, unveiled a strategic collaboration with Amazon Web Services (AWS) to fortify its investments in electrification, shared mobility, and customer services. The collaboration extended to leveraging Amazon Marketplace to support Hertz's digital services, contributing to a seamless customer journey, leveraging their electric vehicle fleet, and expanding their global charging infrastructure.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of car sharing telematics was reached USD 283.4 million in 2023 and is set to expand at over 11% CAGR from 2024 to 2032, driven by the increasing influx of companies venturing into this transformative sector through strategic initiatives.

The embedded vehicles segment held 48% share of the car sharing telematics industry in 2023 and is projected to gain significant traction through 2032, driven by the surging need to offer seamless connectivity for enhancing user experience and operational efficiency.

Asia Pacific held more than 35% revenue share of the car sharing telematics market in 2023 and is estimated to record substantial revenue by the end of 2032, owing to rapid urbanization, increased traffic congestion, and the growing focus on sustainable transportation solutions.

Some of the leading car sharing telematics firms are INVERS GmbH, Cal/Amp, Samsara Inc., Geotab Inc., Verizon, Vulog, Octo Group S.p.A, and Ridecell, Inc.