LONDON--(BUSINESS WIRE)--Feb 10, 2020--

The global automotive smartphone enabled telematics market is expected to post a CAGR of almost 28% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global automotive smartphone enabled telematics market 2019-2023 (Graphic: Business Wire)

The popularity of app-based UBI has increased in the automotive UBI market as developing apps is cost-effective compared to OBU-based UBI solutions. Also, it eliminates the need for investment in hardware as modern smartphones have built-in sensors that track driving behavior effectively. This will benefit both insurer and driver as UBI helps insurance companies to price policies more precisely by encouraging safe driving behavior. Such cost benefits offered by app-based UBI solutions is crucial in driving the growth of the global automotive smartphone enabled telematics market.

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As per Technavio, the growing popularity of smartphone enabled telematics in commercial vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Automotive Smartphone Enabled Telematics Market: Growing Adoption of Smartphone Enabled Telematics in Commercial Vehicles

Fleet operators are increasingly adopting advanced telematics services in their vehicles to improve their operational efficiencies. This is encouraging market vendors to offer customized solutions with competitive pricing to suit the requirements of fleet operators. Some automotive OEMs are collaborating with telecom operators and telematics solution providers to offer end-to-end telematics services for fleet operators. For instance, in 2015, Volkswagen partnered with RAC Monitoring Services to develop smart telematics services by integrating a dongle with the vehicle’s ECU. It allows fleet operators to analyze data using a smartphone, tablet, or desktop. This trend will have a positive impact on the growth of the market during the forecast period.

“The use of advanced analytics to optimize vehicle efficiency and the growing demand for better fuel efficiency and safety will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Global Automotive Smartphone Enabled Telematics Market: Segmentation Analysis

This market report segments the global automotive smartphone enabled telematics market by type (smartphone integrated telematics and app-based telematics) and geography (Americas, APAC, and EMEA).

The Americas led the market in 2018, followed by APAC and EMEA respectively. During the forecast period, the Americas is expected to maintain its dominance over the market. This is due to the high adoption of advanced telematics in passenger cars and commercial vehicles in the region.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

• Geographic comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Vendor classification
• Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email:[email protected]

Website:https://www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE

SOURCE: Technavio Research

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PUB: 02/10/2020 05:00 AM/DISC: 02/10/2020 05:00 AM

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