Market Overview:
Automotive telematics refers to the use of wireless technology to transmit data from vehicles to other systems, thereby allowing remote monitoring and configuration of vehicles. It offers features such as vehicle diagnostics, navigation, and infotainment. Growing demand for safety, security, and convenience features from drivers and passengers is driving the need for automotive telematics systems.

The global APAC Automotive Telematics Market is estimated to be valued at US$ 22,275.64 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The APAC automotive telematics market is expected to witness significant growth owing to the rising adoption of connected vehicles in the region. Connected vehicles are equipped with wireless internet access and send as well as receive data through mobile and cloud-based applications. They offer a range of benefits including emergency response systems, navigation, vehicle diagnostics, and infotainment which is driving their adoption. Furthermore, initiatives by governments in the region towards developing intelligent transportation systems are also expected to boost the automotive telematics market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: High capital requirements and established brands pose challenges for new players entering the APAC automotive telematics market.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various options from key players in the market.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are numerous component manufacturers and suppliers in the market.

Threat of new substitutes: Moderate threat from alternative connectivity solutions for vehicles.

Competitive rivalry: Intense due to presence of global and regional players.

SWOT Analysis

Strengths: Growing demand for connected vehicles and increasing sales of luxury vehicles fuel market growth.

Weaknesses: High manufacturing costs and connectivity issues in rural areas hampers market growth.

Opportunities: Emergence of autonomous vehicles and incorporation of telematics in low-cost vehicles present new opportunities.

Threats: Cybersecurity concerns and stringent government regulations pose threats.

Key Takeaways

The global APAC Automotive Telematics Market Share is expected to witness high growth, exhibiting CAGR of 14.% over the forecast period, due to increasing demand for improved safety, security, and convenience features.

Regionally, China dominated the APAC market in 2023 and is estimated to grow at a significant CAGR through 2030 on the back of increasing sales of passenger vehicles in the country.

Key players operating in the APAC automotive telematics market are Denso Corporation, Panasonic Corporation, Clarion, Masternaut Limited, Continental AG, Qualcomm Technologies, Inc. LG Electronics, Harman International Industries, Inc., Trimble Inc., and I.D. Systems. These players are focused on investing in R&D of innovative telematics solutions and forming strategic partnerships to consolidate their market position.

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