Market Size of Europe Automotive Telematics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 16.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Automotive Telematics Market Analysis
The Europe automotive telematics market is valued at USD 7.3 billion currently, and it is expected to reach USD 34.3 billion, registering a CAGR of 16% over the forecast period.
The 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.
The year 2021 was remarked as the year of transition, where things came back to normal, and the automotive production and service market regained its growth phase mitigating strong demand for vehicle telematics across Europe.
Over the longer term forecast period, automakers are at the forefront of 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.
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.
Europe Automotive Telematics Industry Segmentation
Automotive telematics includes several features and services, including GPS systems, onboard vehicle diagnostics, and wireless devices.
The European Automotive Telematics Market is Segmented by Service Type (Infotainment and Navigation, Fleet Management, Safety and Security, and Diagnostics) and Country (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe). The report offers the market sizes and forecasts in value (USD billion) for all the above segments.
| By Service Type | |
| Infotainment and Navigation | |
| Fleet Management | |
| Safety and Security | |
| Diagnostics |
| Geography | |
| Germany | |
| United Kingdom | |
| Italy | |
| France | |
| Spain | |
| Rest of Europe |
Europe Automotive Telematics Market Size Summary
The European vehicle telematics market is experiencing significant growth, driven by advancements in technology and increasing demand for enhanced vehicle safety and connectivity. The market, currently valued at several billion, is poised for substantial expansion over the forecast period. The COVID-19 pandemic initially disrupted the industry, causing supply chain challenges and operational delays. However, the market rebounded in 2021, with automakers focusing on integrating advanced technologies to improve driver safety and vehicle functionality. Key factors propelling market growth include the reduction in connectivity costs, the rise in smartphone penetration, and stringent safety regulations. The integration of AI, machine learning, and IoT with automotive systems is expected to further drive innovation and adoption, particularly in electric vehicles.
Germany plays a pivotal role in the European automotive telematics sector, being a hub for high-tech automotive production and innovation. The country's robust automotive industry not only meets local demand but also serves international markets, contributing to significant export figures. The market is characterized by a fragmented landscape with numerous local and global players investing heavily in research and development to enhance telematics offerings. Collaborations and acquisitions among industry players are common as companies strive to expand their technological capabilities and market presence. The introduction of advanced diagnostic tools and the integration of telematics with vehicle systems are expected to sustain the high growth trajectory of the market in the coming years.
Europe Automotive Telematics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in Value USD Billion)
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2.1 By Service Type
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2.1.1 Infotainment and Navigation
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2.1.2 Fleet Management
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2.1.3 Safety and Security
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2.1.4 Diagnostics
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2.2 Geography
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2.2.1 Germany
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2.2.2 United Kingdom
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2.2.3 Italy
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2.2.4 France
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2.2.5 Spain
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2.2.6 Rest of Europe
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Europe Automotive Telematics Market Size FAQs
What is the current Europe Automotive Telematics Market size?
The Europe Automotive Telematics Market is projected to register a CAGR of greater than 16% during the forecast period (2024-2029)
Who are the key players in Europe Automotive Telematics Market?
Robert Bosch GmbH, Continental AG, Magnetic Marelli SpA, Valeo Group and ACTIA Group are the major companies operating in the Europe Automotive Telematics Market.
