Global Telematics Software Market Overview:
Telematics software is designed to track vehicles, airplanes, location-based systems, telehealth solutions, and others. The telematics technology embedded with vehicles and devices to deliver real-time transmission, monitoring, and management. With the growing requirement of tracking vehicles on a real-time basis and observe drivers, and other parameters such as monitoring health, temperament while diving is driving the demand for telematics software. This market is highly growing in the North America region, as this region accounts for around USD 29.48 Billion in FY 2017, and it is expected to reach USD 102.27 Billion by FY 2022. Some of the players profiled in the study are Aplicom (Finland), Aptiv (Ireland), Chetu (United States), Descartes (Canada), Digital Matter (Australia), Key Telematics (United States), Mecomo (United States), Omnitracs (United States), RentalMatics (Ireland) and SkyHawk Telematics (Canada).
On the basis of geography, the market of Telematics Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Mode, the sub-segment i.e. Cloud-Based will boost the Telematics Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Users, the sub-segment i.e. Automotive Telematics will boost the Telematics Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. GPS will boost the Telematics Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- The increased purchasing power of customers and shifting its preference for the high-end vehicles then simple transport machines. With the development of 4G and 5G technology is playing a major role in this market.
- An increasing number of automobiles in developed regions including the USA, Canada, Mexico, and other regions. These regions require advanced road assistance and vehicle crash management.
- Vehicles are being manufactured with embedded SIMs to avail telematics-based services such as UBI products that can be accessed through smartphones or pre-installed screen in the vehicles
- The government in most developed and developing nations are making it mandatory for fleets to come up with embedded telematics devices such as navigation devices or black-box for real-time position tracking and maintenance
- High Cost Associated with Data Transmission
- Lack of Approval Process and Unified Port for the Telematics Devices
- An increasing number of road accidents because of the speeding car, this creates a huge opportunity for the usage of telematics software
- Rising government focus on technology-based vehicle monitoring infrastructure. Government from developed regions has implemented regulation for vehicle users for e-call technology, and others to enhance the road safety assistance
- Vehicle Connected Over Same Network Can be Easily Hacked and Controlled, that Can Cause Harmful Damages
- Lack of Awareness Among Individual Car Owners and Resistance to the Additional Expenditure for the Installation of New Devices
Key Market Developments:
In Jun 2020, Ford Commercial Solutions announced the launch of Ford Telematic, basically web-based software platform, this helps commercial vehicle customer better manage their fleets. Through this initiative enhance their business and offerings.
The companies are operating in this market are exploring new geographical regions by adopting various types of market growth strategies such as mergers & acquisitions, expansions, investments, new solution launches, and others. The major players are exploring new market opportunities through expansions and acquisitions across the globe to avail of competitive advantage through combined synergies.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Telematics Software Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Telematics Software market on the basis of product [Vehicle Tracking, Trailer Tracking, Container Tracking, Fleet Management and Others] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Telematics Software market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Telematics Software industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Tieto (Finland), Verizon Communications (United States) and ZF Friedrichshafen (Germany).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Telematics Software market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.