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Passenger Vehicle Telematics Market Size

  • Report ID: GMI5885
  • Published Date: May 2023
  • Report Format: PDF
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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 Market
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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.

Passenger Vehicle Telematics Market Report Attributes
Report Attribute Details
Base Year:2022
Passenger Vehicle Telematics Market Size in 2022:USD 24 Billion
Forecast Period:2023 to 2032
Forecast Period 2023 to 2032 CAGR:12%
2032 Value Projection:USD 80 Billion
Historical Data for:2018 - 2022
No. of Pages:250
Tables, Charts & Figures:273
Segments covered:Type, Communication Technology, Service Offering
Growth Drivers:
  • Growing sales of connected cars
  • Government support for telematics in automobiles
  • Growing investment in fleet management
  • Increasing use of real-time traffic information
  • Rising adoption of telematics based insurance
Pitfalls & Challenges:
  • Data privacy concerns
Learn more about the key segments shaping this market
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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of passenger vehicle telematics reached USD 24 billion in 2022 and will record 12% CAGR from 2023-2032 due to the surging need for emergency & roadside assistance, stolen vehicle tracking, and remote vehicle immobilization.

Embedded telematics type segment held over 50% of the industry share in 2022 owing to growing demand in GPS navigation, safety communications & emergency systems, and automatic driver assistance.

Passenger vehicle telematics industry size in North America is estimated to exceed USD 30 billion by 2032 driven by the rising security & safety concerns in the region.

Some of the leading passenger vehicle telematics business participants include Agero Inc., AirlQ Inc., Aptiv, and Continental AG.

Passenger Vehicle Telematics Market Scope

  • Passenger Vehicle Telematics Market Size
  • Passenger Vehicle Telematics Market Trends
  • Passenger Vehicle Telematics Market Analysis
  • Passenger Vehicle Telematics Market Share

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    • Base Year: 2022
    • Companies covered: 18
    • Tables & Figures: 273
    • Countries covered: 20
    • Pages: 250
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