KEY FINDINGS
The Europe automotive telematics market is predicted to grow at a CAGR of 20.70% during the forecast period, 2021-2028. The increasing demand for telematics-based pay-as-you-drive vehicle insurance propels market growth, along with the significant presence of luxury vehicle manufacturers. Further, OEMs are using infotainment systems to gain an advantage in competitive rivalry, thereby contributing to market growth.
MARKET INSIGHTS
France, the United Kingdom, Germany, Poland, Russia, Italy, Belgium, and Rest of Europe, are evaluated for the Europe automotive telematics market growth analysis. In Germany, automotive manufacturers are gaining traction in the connected cars market. The country also has the highest market share with regard to automotive telematics in Europe. Also, major automotive OEMs are launching vehicles with advanced connectivity and infotainment systems. For instance, BMW through its iDrive infotainment systems and connected drive platforms. At the same time, advanced connected cars are classified as luxury items in the country. Such factors, along with the thriving fleet management, facilitates market growth.
In Italy, insurance telematics is the most established in-vehicle telematics. Insurance companies use black-box and smartphone application telematics to evaluate driving behaviors. This data is then used to formulate risk modes, which leads to cost-effective insurance premiums for customers. Such incentives supplement the market growth. More importantly, the telematics system adoption is led by young driver user groups given the high costs of premiums available for them. Furthermore, fleet management in Italy has been facing certain challenges. The evolving infrastructure for both operators and associated supply chains is controlled by legal, environmental, political, and financial unsteadiness. As a result, mobile apps with advanced driver assistance systems (ADAS) technologies are an important breakthrough for Italian fleet management.
COMPETITIVE INSIGHTS
Some of the main market players include Trimble Inc, Visteon Corporation, TomTom International BV, Verizon Communications Inc, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments