DUBLIN, Sept. 5, 2022 /PRNewswire/ — The “Global Vehicle Telematics Market by Technologies, Infrastructure, Connectivity, Distribution Channels, Vehicle Types, and Applications 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
This report assesses the vehicle telematics ecosystem including market dynamics and emerging B2B, B2C, and B2P business models. The report evaluates hardware, software, network connectivity and supporting technologies.
The report also analyzes OEM vs. aftermarket sales opportunities, applications in different industry verticals, and emerging technologies that enable new and enhanced vehicle telematics solutions. The report provides market sizing data with forecasts from 2022 to 2027.
Telematics represents technologies and solutions that involve integrated wireless two-way communications, typically deployed in conjunction with moving assets for purposes of safety assurance through command and control procedures. It includes use of supporting technologies such as navigation systems and real-time tracking systems that rely on upon cellular communications as well as advanced satellite capabilities. Additional technologies include artificial intelligence and various IoT capabilities.
Vehicle telematics ecosystem success is determined largely by improved capabilities in the form of vehicle telematics tools and capabilities. Telematics solutions combine IT and telecommunications capabilities, applied to various industries for transportation and logistics purposes. Solutions integrate many vehicular technologies such as road safety, road transportation , electrical engineering like instrumentation, sensors, and wireless communications, and computer sciences such as multimedia and Internet-connected applications of many types.
Prior to COVID-19, the vehicle telematics market was growing exponentially due to many factors such as increasing adoption of standards-based approaches, such as leveraging the next generation telematics protocol solutions that enhance service delivery, increase adoption of sensors and connectivity technology, and increasing demand for road safety technologies.
The pandemic caused a worldwide lockdown, which facilitated a particularly harsh impact on all production-oriented industries. This triggered an adverse effect on the vehicle market as global manufacturing plants were shuttered, causing supply issues for automobiles and vehicle parts. Lingering effects from supply chain related shortages remain, causing supply/demand challenges in some market segments and solution areas.