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Car Sharing Telematics Market Size - By Service (Automatic Crash Notification (ACN), Emergency, Navigation, Assistance & Access, Diagnostics, Fleet Management, Billing), By Form (Embedded, Tethered, Integrated), Component, Business Model & Forecast, 2024 – 2032

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

Car Sharing Telematics Market Size

Car Sharing Telematics Market was valued at USD 283.4 million in 2023 and is projected to expand at more than 11% CAGR from 2024 to 2032, fuelled by the growing influx of companies venturing into this transformative sector through strategic initiatives. With businesses recognizing the economic and environmental benefits of shared mobility solutions, the need for advanced telematics systems is escalating.
 

Car Sharing Telematics Market

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The influx of various technologies to enhance vehicle tracking, fleet management, and user experience will also drive the market expansion. The rising number of companies embracing car sharing telematics is further underscoring a broader industry shift towards sustainable and efficient transportation solutions, shaping the future of urban mobility.
 

The burgeoning demand for car sharing telematics is propelled by the increasing recognition of notable achievements within the industry. With companies showcasing their successes in implementing innovative telematics solutions, consumers and businesses alike are acknowledging the tangible benefits of improved efficiency, cost savings, and environmental sustainability. This heightened awareness is fostering a growing demand for car sharing telematics, reflecting a broader appreciation for the transformative impacts of these advancements on modern transportation and mobility solutions. Additionally, businesses adopting shared mobility solutions can optimize fleet management, leading to reduced operational costs. This economic appeal is contributing to the growing demand for car sharing telematics.
 

The challenges posed by regulatory bodies as governments grapple with evolving policies around data privacy and sharing may limit the market expansion to some extent. In Addition, the rising concerns about cybersecurity and data breaches may deter some users from fully embracing telematics solutions. The initial setup costs and technological barriers can also restrict the deployment of car sharing telematics in smaller businesses.
 

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.
 

Car Sharing Telematics Market Analysis

Car Sharing Telematics Market Size, By Component, 2022-2032 (USD Million)
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The software segment captured major market share and is expected to grow significantly. Emerging as integral elements of telematics systems, software components help drive innovations in data analytics, user interfaces, and connectivity features. Enhanced software solutions also optimize fleet management, improve user experiences, and ensure robust cybersecurity. With a growing emphasis on smart mobility, the demand for advanced software components in car sharing telematics is on the rise, reflecting a dynamic market prioritizing technological sophistication and seamless integration for optimized user experience.
 

Global Car Sharing Telematics Market Share, By Form, 2023
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The embedded vehicles segment held around 48% market share in 2023 and is poised for significant growth. Embedded forms, directly integrated into vehicle architecture, offer seamless connectivity for enhancing user experience and operational efficiency. This embedded approach provides real-time data on vehicle performance, location, and user behaviour, optimizing fleet management for car sharing services. With automakers increasingly adopting embedded telematics solutions, the demand for car sharing services utilizing this technology is expected to grow, fostering a more connected and streamlined experience for users.
 

Asia Pacific Car Sharing Telematics Market Size, 2022-2032 (USD Million)
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 Asia Pacific dominated the global car sharing telematics market with a major share of over 35% in 2023. Rapid urbanization, increased traffic congestion, and the growing focus on sustainable transportation solutions are driving the adoption of car sharing telematics in the region. Countries like China, Japan, and India are embracing smart mobility fueled by the rise of urban population seeking efficient and eco-friendly transportation options. With the Asia-Pacific region continuing to prioritize modern mobility solutions, the market is poised for substantial growth.
 

Car Sharing Telematics Market Share

Geotab Inc. holds the around 20% of the total market share, attributed to its advanced technology, robust solutions, and extensive partnerships, offering comprehensive fleet management and vehicle tracking services to businesses globally. These market players are employing various strategies to bolster their global presence. This involves dedicating resources to research and development to create inventive solutions, forging strategic alliances, securing crucial technologies, and consistently adjusting products to meet the changing cybersecurity threats. This approach also guarantees a competitive advantage in the ever-shifting market terrain.
 

Car Sharing Telematics Market Companies

Major players operating in the car sharing telematics industry are:

  • Cal/Amp
  • Geotab Inc.
  • INVERS GmbH
  • Octo Group S.p.A
  • Ridecell, Inc
  • Samsara Inc.
  • Verizon
  • Vulog 
     

Car Sharing Telematics Industry News

  • In September 2023, Geotab, a global provider of connected transportation solutions, joined forces with BMW Group to offer a comprehensive connected mobility solution. The collaboration merged BMW Group's data with Geotab's platform for delivering fleet operators a ready-to-use connectivity solution. This benefited various entities, including fleets, leasing and rental companies, as well as car sharing and ride-hailing organizations, enabling them to make informed decisions in near real-time regarding productivity, compliance, and driver safety.
     

This car sharing telematics market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Service

  • Automatic Crash Notification (ACN)
  • Emergency
  • Navigation
  • Assistance & access
  • Diagnostics
  • Fleet Management
  • Billing
  • Others

Market, By Form

  • Embedded
  • Tethered
  • Integrated

Market, By Component

  • GPS receiver
  • Accelerometer
  • Engine interface
  • Sim card
  • Software
  • Others

Market, By Business Model

  • Subscription-based model
  • Pay-per-use model
  • Corporate fleet management
  • Partnerships with OEMs
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America 
  • MEA
    • UAE
    • South Africa
    • Saudi Arabia
    • Rest of MEA

 

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.

Car Sharing Telematics Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 300
  • Countries covered: 24
  • Pages: 280
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