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According to a new report Europe Automotive Telematics Market (2018-2024), the Europe Automotive Telematics market is expected to attain a market size of $46.4 billion by 2024, growing at a CAGR of 21.7% during the forecast period.
In 2017, Germany dominated the Europe Telematics Market by Country, and would garner market revenue of $12,067.3 Million by 2024. However, Italy would exhibit maximum CAGR of 20.2% during the forecast period (2018-2024). Government rules and regulations in different regions for the safety, security, tracking of vehicles is an important growth driver for the telematics market. For example, eCall in Europe, which automatically calls the nearest emergency center, even if no passenger is able to speak, e.g. due to injuries, a 'Minimum Set of Data' is sent, which includes the exact location of the crash site, is mandated by the European commission in every vehicle from 2017.
In 2017, Solution segment dominated the Europe Commercial Telematics Market by Application, with market revenue of $6,978.9 Million. This segment would grow with a CAGR of 14.6% during the forecast period (2018-2024).
In 2017, Insurance segment dominated the Europe Consumer Telematics Solution Market by Type, and would garner market revenue of $3,198.2 Million by 2024. However, others segment would exhibit maximum CAGR of 40.0% 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 Europe. The key influencing factors of the Europe 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.