Future Market Insights (FMI), in its latest report titled, Asia Pacific Automotive Telematics – Market Analysis and Opportunity Assessment, 2014 – 2020 (price £3500) predicts the global telematics market to exhibit a single-digit CAGR of 8.8 percent over the forecast period. It says Asia Pacific will outpace this rate to achieve a CAGR of 11.6 percent. It predicts the contribution of the Asia Pacific telematics market to the global total to increase from 26 percent to 30 percent over the forecast period.
FMI says: “The Asia Pacific automotive telematics market is driven by factors such as high penetration of technologies, steadily increasing GDP, and the presence of established vendors in the commercial vehicle telematics market. Furthermore, over 42 percent of the world’s Internet users are in Asia (2013), combined with hundreds of millions of 4G users, bode well for the Asia Pacific automotive telematics market.”
FMI identifies “The three technologies that will propel the Asia Pacific automotive telematics market as being embedded, tethered, and smartphone technology.
FMI lead consultant, Nikhil Kaitwade, said: “Telematics in the automotive industry has become increasingly relevant with a palpable emphasis on safety and security globally. Increased technology adoption and remote vehicle diagnostics are driving the Asia Pacific automotive telematics market.