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Telematics Systems Market Trends

Report ID: GMI10433
Published Date: Jul 2024
Report Format: PDF

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Telematics Systems Market Trends

The integration of advanced AI and machine learning technologies is enhancing predictive maintenance and real-time data analytics capabilities. There is a notable shift towards cloud-based telematics solutions, which offer scalability and improved data management. The increasing adoption of electric vehicles (EVs) is driving demand for specialized telematics features such as battery monitoring and charging station navigation. Additionally, the market is seeing a rise in usage-based insurance models that leverage telematics data to offer personalized premiums based on driving behavior. With a growing emphasis on data security and compliance, companies are investing in robust cybersecurity measures to protect sensitive information.

For instance, in May 2024, Ambarella unveiled its next-gen AI SoCs, the CV75AX and CV72AX, for in-vehicle fleet telematics systems. These SoCs offer enhanced AI performance, supporting advanced driver monitoring and multi-channel video analysis. Featuring Ambarella’s latest AI engine and manufactured with Samsung's 5nm technology, they improve accuracy, efficiency, and image quality for fleet telematics applications.

Authors: Suraj Gujar , Saptadeep Das

Frequently Asked Questions (FAQ) :

The market size of telematics systems reached USD 44.7 billion in 2023 and is set to grow at a CAGR of over 10% between 2024 and 2032, backed by increasing demand for connected vehicles and advancements in automotive technology.

The smartphone segment will record a CAGR of over 10% between 2024 and 2032, as it is a ready platform for integrating telematics functionalities, leveraging the device's built-in sensors (such as GPS) and connectivity (cellular and Wi-Fi) for vehicle tracking, navigation, and data transmission.

North America dominated the global market in 2023, accounting for a share of over 30%, owing to the advanced automotive sector, strong regulatory frameworks mandating vehicle safety and emissions control, and high consumer demand for connected vehicle technologies.

Fleet Complete, Geotab Inc., Mix Telematics, Octo Telematics, TomTom Telematics, Trimble Inc., and Verizon Connect.