Harrisburg, NC -- (SBWIRE) -- 10/28/2020 -- Global Telematics Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.

This Telematics Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.

The telematics market is expected to register a CAGR of 20.7% over the forecast period from 2020 to 2025. By enabling the capabilities of telecommunication and information technology, telematics is now being used across various industries for adequate transportation and logistics purposes. Recently, the application's focus has shifted from vehicle location and routing to solutions focused on drivers and their safety. By monitoring the driving behavior, vehicle health and maintenance intervals, telematics solutions help minimize accidental incidents, speeding tickets, and downtime.

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The prominent players in the Global Telematics Market:

Mix Telematics, AT&T Inc., Geotab Inc., Verizon Telematics, Cisco Systems Inc., Aplicom Oy, and Others.

- May 2020 - MiX Telematics, a global fleet, and mobile asset management solution, has announced that Post Office, an eminent UK retailer, has renewed its contract with MiX Telematics. The company offers over 170 different products and services, including postal services, financial services, broadband and home phone, foreign currency, and travel insurance.
- January 2020 - Geotab has launched Geotab Integrated Solution for General Motors. The offering launched at Geotab Connect 2020, which engages in helping the fleet managers to access their compatible vehicle data within the MyGeotab platform via a factory-fit, GM-engineered OnStar module. The solution intends to simplify mixed-fleet management tasks by providing businesses with the ability to oversee their entire fleet from within one platform.

Key Market Trends: -

Smartphone Solution is Expected to Hold a Major Market Share

- Smartphone telematics uses GPS and mobile phone sensors to collect data about driver behavior, location patterns, and apply it to urban transportation, insurance, fleet logistics, automotive, and other market verticals. This information helps to analyze crucial metrics like locations, geo zones, driving style, performance, and points of interest.
- There are many advantages of smartphone telematics, such as reducing the cost of adopting UBI technology while retaining the benefits of usage-based insurance. The data collected through it remains highly accurate, while the insurance company does not have to pay for the manufacturing and distribution of UBI hardware. The shift to smartphone-based UBI policies is helping the insurance providers reduce their operating costs, increase their profit margin, and pass some of their savings on to clients.
- TrueMotion, a Boston-based start-up, harnesses mobile technology's power to improve driving habits, including distracted driving. The company reports that it has reduced distracted driving up to 20% through safe driving programs. The start-up also developed a way of getting driving data from sensors on smartphones when the car insurer started to move away from the plug-in devices it uses in its Snapshot usage-based insurance (UBI) program.
- Moreover, Zurich insurance company ltd and Driveway software launched a smartphone-based telematics platform to power new mobility solutions. Zurich driver uses Driveway's telematics platform to analyze data collected from smartphone sensors. The app automatically detects driving and score drivers on excessive speeding and aggressive braking, acceleration, and cornering. It also measures the driver's phone distraction and provides feedback to drivers about their phone use while driving, encouraging distraction-free driving.

Asia-Pacific is Expected to Witness Significant Growth

- With the emergence of electric vehicle and autonomous vehicles technology, the automotive industry is witnessing a massive transformation including the development of new areas such as Advanced Driver Assistance System (ADAS), Mobility-as-a-Service providers (MaaS) and CASE, the entry of new industries utilizing IoT technology, and the emergence of new services such as ride-sharing and car-sharing. All these applications require fast data transmission, analysis, and implementation. All these factors are mainly driving the growth in the Asia Pacific telematics market.
- The regional government is also playing a significant role in the studied market growth. For instance, in January 2019, the Indian government released a new AIS 140 Motor Vehicles Order that mandates all new public transport vehicles in the country (excluding taxis and rickshaws) to be fitted with location tracking devices and emergency panic buttons. In April 2020, the Chinese Ministry of Ecology and Environment (MEE) has published a draft regulation on heavy-duty vehicle telematics (remote OBD, OBD III) telematics is required for all HD vehicles.
- According to a study conducted by market vendor Tech Mahindra, to understand the buying behavior and level of awareness of automotive telematics technologies in India, 90% of respondents preferred buying a vehicle with telematics capabilities (in a four-wheeler), 45% of respondents deemed it necessary to use telematics for safety and security, and 65% of respondents are comfortable with sharing their location details and driver behavior with fleet managers.

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Telematics Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Telematics Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth

Browse in-depth and report summary TOC on "Telematics Market":

https://www.marketinsightsreports.com/reports/10192357916/telematics-market-growth-trends-and-forecasts-2020-2025?Mode=18

Finally, the Telematics market report offers a complete and detailed study of Global Telematics market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter's five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.

Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.