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According to a new report Asia Pacific Automotive Telematics Market (2018-2024), the Asia Pacific Automotive Telematics market is expected to attain a market size of $34.2 billion by 2024, growing at a CAGR of 28.1% during the forecast period.
The Automotive industry is witnessing a phase of digital revolution. Over the next few years, automobiles will be completely transformed into communication objects. Therefore, the telematics market is expected to grow at a promising rate due to the rising consumer demands for staying connected 24*7 even while travelling. In APAC region, Chinese Government has rolled out a regulation for usage of fleet management solution in every vehicle effective from 2014. Russia and India have a joint venture to provide navigation services in India, which includes setting up the telematics terminals and portable navigation devices.
In 2017, Solution segment dominated the Asia-Pacific Consumer Telematics Market By Application, with market revenue of $971.7 Million. This segment would grow with a CAGR of 36.3% during the forecast period (2018-2024). In 2017, Fleet / Asset Management dominated the Asia-Pacific Commercial Telematics Solution Market by Type, and would garner market revenue of $5,550.2 Million by 2024. However, others segment would exhibit maximum CAGR of 42.5% during the forecast period (2018-2024).
In 2017, Transportation & Logistics dominated the Asia-Pacific Commercial Telematics Market By End User, and would garner market revenue of $8,774.1 Million by 2024. However, Healthcare would exhibit maximum CAGR of 26.8% during the forecast period (2018-2024).
In 2017, China dominated the Asia-Pacific Telematics Market by Country with market revenue of $1,982.0 Million. However, Malaysia would exhibit maximum CAGR of 30.5% during the forecast period (2018-2024).
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the countries in Asia-Pacific. The key influencing factors of the Asia-Pacific Automotive Telematics market have been discussed in the report along with the elaborated company profiles namely Verizon Communications Inc., AT&T Inc., Ford Motor Company, BMW AG Robert Bosch GmbH, Valeo S.A, Harman International Industries, Incorporated, Vodafone Group Plc and TELEF NICA, S.A.