The Europe automotive telematics market was valued at USD 7.3 billion in 2022, and it is expected to reach USD 34.3 billion by 2031, registering a CAGR of 16% over the forecast period
The ongoing COVID-19 pandemic had an adverse effect on many industries, and the telematics industry is also no exception. The market has been negatively affected by the lockdowns and the subsequent shutdown of operations by manufacturers, owing to the guidelines to contain the virus. The supply chain disruptions have caused delays and other operational challenges. As the situation is coming back to normalcy, it is expected that the market would grow positively in the forecast period.
Lately, automakers have been focused on improving driver safety, and hence, modern cars are being equipped with various technologies that monitor and control various functions of the vehicle. The reduction in the cost of connectivity, increasing penetration of smartphones, and stringent safety regulations are some of the key reasons fueling the market growth.
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Most connected vehicles are nowadays provided with sensors that generate lots of valuable data used by fleet managers for smooth operations and supporting automakers in delivering a personalized experience to their customers. With more advanced features and technologies, cars are now being driven by software, which is resulting in the entry of more technology and software giants in the automotive industry.
The adoption of automotive telematics in electric vehicles is also expected to propel the growth of the market in the future. The leading players in the market are looking forward to leveraging the opportunities presented by the introduction of electric vehicles (EVs) in the market.
Key Market Trends
Introduction of New Technologies is Driving the Market
The introduction of new technologies like AI, machine learning, and IoT and their integration with automotive systems like ADAS and vehicular connectivity can be witnessed in the coming years. Many major automobile manufacturers are investing billions in the research and development of telematics for future vehicles and releasing the latest developments with their products.
For instance, in July 2020, Continental announced that two major European vehicle manufacturers had decided to work with the company for the supply of innovative telematics and antenna solutions. Both projects build on the technology company’s 5G Hybrid V2X platform, which is specifically developed for scalability and flexibility.
In April 2020, Automotive Grade Linux (AGL) announced the release of the AGL platform, UCB 9.0, which is also known as Itchy Icefish. It is an open-source software platform that can be utilized for infotainment, telematics, and instrument cluster applications. AGL UCB is being utilized in the 2020 Subaru Outback, Subaru Legacy, Mercedes-Benz Vans, and Toyotas, which utilize the AGL-based infotainment system.
Various industry players are continuously collaborating with other market participants to update their present vehicles with the latest technological updates. For instance-
In April 2021, Marelli and Quectel established a joint venture to advance further work in progress on 5G and cellular vehicle-to-x (CV2X) platforms. The two companies’ broad collaboration has seen them work together on many projects in the automotive industry, including the enablement of evolved LTE connectivity utilizing the Quectel AG520R and AG55xQ platforms suitable for automotive applications such as fleet management, vehicle tracking, in-vehicle navigation systems, remote vehicle monitoring, remote vehicle control, remote vehicle diagnostics, security monitoring and alarms, vehicle wireless routing, in-car entertainment, and many others.
In February 2021, Bosch teamed up with Microsoft to develop a software-defined vehicle platform for seamless integration between cars and the cloud. The goal of this collaboration is to simplify and accelerate the development and deployment of vehicle software throughout a car’s lifetime in accordance with automotive quality standards.
Safety and Security to hold the Major Share in the Automotive Telematics Market
Through telematics, fleet managers can monitor various information of vehicles remotely, such as vehicle speed, location, harsh driving, and usage of seat belts. Telematics can provide various accident prevention measures and driver safety standards. It can continuously provide feedback on driving style and driving behavior, which helps fleet managers, driving coaches, and drivers to reduce unwanted driving habits, such as harsh braking and speeding.
Government fleets at all levels have unique requirements and opportunities in terms of positioning and safety. Telematics data can also be utilized to drive or support many government fleet initiatives. Many government fleets have recognized this and implemented some type of basic GPS vehicle tracking solution. Now government agencies are recognizing the value of telematics data and integration of data collected from fleet operations in other areas such as smart cities and big data.
Governments are forming new rules and regulations for the safety of vehicle occupants in case of any mishaps; for instance, every new vehicle should be equipped with e-Call, as a mandate from the European Commission. This has helped in the growth of the telematics market in Europe. The region is also home to several automotive telematics hardware suppliers such as Robert Bosch GmbH and Continental AG. In addition to these, various new players are also entering the market.
In April 2020, CalAmp’s subsidiary LoJack Italia, a telematics service provider, was selected for a contract to offer collision emergency response services via Private eCall to drivers across Italy. According to the agreement signed between AREU (Regional Agency for Emergency Urgency) and the Telematics Service Providers (TSP) Association, the LoJack Italia Command Center, along with a few other selected TSP Association members, are authorized to provide emergency calls to the European 112 Central Response Center through Private eCall.
Competitive Landscape
The Europe automotive telematics market is fragmented due to the presence of many local and global players such as Robert Bosch GmbH and ACTIA Group. The market is transforming with the evolution of technologies, but conventional technology will continue to hold the major share. The companies have been highly investing in R&D projects to provide the best service through telematics to car owners, and major players in the market are expanding their presence by acquiring small companies and starting new plants in other countries. For instance-
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In June 2021, Investindustrial agreed to acquire Targa Telematics, an Italian technology company that offers solutions in telematics, smart mobility, and digital IoT platforms for mobility operators.
In September 2020, RAM Tracking acquired Asset Monitoring Solutions to further strengthen its market position and installed a base in the United Kingdom, the United States, and France. During fall 2020, ABAX acquired RAM Track & Trace in Belgium and Automile in Sweden.
In May 2020, AddSecure Smart Transport acquired Connexas, a provider of smart transport solutions throughout the European Union. In July 2020, AddSecure Smart Transport also acquired Navkonzept in Germany, adding 2,200 clients and 20,000 equipped vehicles.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Service Type
5.1.1 Infotainment and Navigation
5.1.2 Fleet Management
5.1.3 Safety and Security
5.1.4 Diagnostics
5.2 Geography
5.2.1 Germany
5.2.2 United Kingdom
5.2.3 Italy
5.2.4 France
5.2.5 Spain
5.2.6 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Robert Bosch GmbH
6.2.2 Continental AG
6.2.3 Magnetic Marelli SpA
6.2.4 Ficosa International SA
6.2.5 Octo Telematics
6.2.6 TELEFONICA SA
6.2.7 Valeo Group
6.2.8 Faurecia Clarion Electronics
6.2.9 NavInfo Co. Ltd
6.2.10 ACTIA Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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