In 2022, the market for automotive telematics was estimated to be worth USD 9154.8 million.
The market for automotive telematics is anticipated to increase at a CAGR of 12.80% from 2023 to 2030, reaching USD 23995.04 million in 2030.
Embedded telematics are the most popular category of telematics system types.
Commercial vehicles, by vehicle type, are the notable segment.
The top players include Omnitracs, Verizon, TomTom Telematics BV., MiX Telematics, Airbiquity Inc., Teletrac Navman, Harman International (Samsung Electronics), Trimble Inc., Cartrack, Masternaut Limited, I.D.Systems, Inc., and others.
The automotive telematics sector is expanding due to factors like the increasing demand for connected vehicles, government regulations for vehicle telematics, and growing interest in autonomous vehicles.
Due to the demand for new business models, increasing demand for developing economies, vehicle theft tracking and recovery, and reduction of environmental impact, the automotive telematics business has much growth potential.