Passenger Vehicle Telematics Market Size By Type (Embedded Telematics, Tethered Telematics, Integrated Telematics), By Communication Technology, By Service Offering (Safety and Security, Infotainment and Navigation, Remote Control and Monitoring), Forecast 2023 - 2032

Passenger Vehicle Telematics Market Size

Passenger Vehicle Telematics Market size surpassed USD 24 billion in 2022 and is anticipated to grow at 12% CAGR from 2023 and 2032 owing to the growing demand for improved connectivity and intelligence along with the continuous technological advancements in the industry.
 

Passenger vehicle telematics collects & transmits sensitive data about the vehicle and the driver, raising concerns about data privacy and unauthorized access or misuse of personal information. Effective data security measures and addressing privacy concerns are essential for the widespread acceptance & adoption of telematics systems in passenger vehicles.
 

COVID-19 Impact

COVID-19 led to nationwide lockdowns in various countries, which resulted in the drastic fall in passenger vehicle demand and, in turn, decreased the industry. However, growing investments in fleet management coupled with government regulations on enhancing vehicle safety have increased passenger vehicle telematics market demand by 2032.
 

Passenger Vehicle Telematics Market Trends

The growing sales of connected cars and increasing penetration of devices, such as smartphones, IoT devices & tablets, are propelling the demand for telematics in passenger vehicles. Further, the rising deployment of ADAS in passenger vehicles is an important factor boosting telematics demand. ADAS utilize telematics data to provide real-time warnings & alerts, enhance driver safety, and assist in decision-making during critical situations, leading to improved road safety. Also, government regulations on strengthening in-vehicle connectivity and safety to decrease road accidents are expected to play a crucial role in the boosting the industry demand 2023-2032.
 

Passenger Vehicle Telematics Market Analysis

Embedded telematics dominated 50% of the passenger vehicle telematics market share in 2022. Embedded telematics enables sending and receiving information with the help of telecommunication devices. GPS navigation, safety communications & emergency systems, and automatic driver assistance are some of the major factors propelling embedded telematics demand. Furthermore, regulatory mandates to improve vehicle & passenger safety and the growing demand for fleet management solutions are anticipated to increase embedded telematics espousal in passenger vehicles.

Remote control & monitoring is expected to witness a significant growth rate of 15% through 2032. Remote control & monitoring allow users to remotely interact with their vehicles, access real-time information, and control certain vehicle functions from a distance. Owing to this feature, passengers or drivers can lock or unlock their vehicles. Growth in vehicle thefts coupled with the increasing demand for real-time tracking of vehicles is expected to fuel market demand by 2032.
 

North America passenger vehicle telematics market captured 35% of the global share in 2022 and, is estimated to amass USD 30 billion revenues by 2032. Rising security & safety concerns are significantly fueling demand for passenger vehicle telematics in the U.S. and Canada. Moreover, U.S. government regulations are also supporting telematics demand in the region. For instance, in June 2022, the U.S. General Services Administration (GSA) Fleet team activated more than 19,000 new telematics devices with an aim to combine telecommunications & informatics to send, receive, and store data connected with fleet vehicles.
 

Passenger Vehicle Telematics Market Share

Some of the major players operating in the passenger vehicle telematics industry include

• Agero Inc.
• AirlQ Inc.
• Aptiv
• Continental AG

These players focus on strategic partnerships and telematics offerings for market expansion. Furthermore, they are heavily investing in research, enabling them to introduce innovative technologies and garner maximum revenue in the market.
 

Passenger Vehicle Telematics Industry News:

• In May 2021, MiX Telematics launched the MiX Vision AI, an extensive update to its video telematics offering. The new launch aimed to further enhance safety and reduce fleet operating costs. MiX Vision AI leverages machine vision technology to detect and alert drivers & managers about risky driving behavior that impacts road safety.
   

This market research report on passenger vehicle telematics 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 Type

• Embedded Telematics
• Tethered Telematics
• Integrated Telematics

Market, By Communication

• Cellular Telematics
• Satellite Telematics

Market, By Service Offering

• Safety and Security
• Infotainment and Navigation
• Remote Control and Monitoring
• Others

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

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Netherlands
  • Spain
  • Norway
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Singapore 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa