Global Automotive OEM Telematics Market - The Installed Base of Embedded OEM Telematics Systems to Reach 339 Million Units by 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 23, 2019--
The “The Global Automotive OEM Telematics Market - 5th Edition” report has been added to ResearchAndMarkets.com’s offering.
It is estimated that more than 41 percent of all new cars sold worldwide in 2018 were equipped with an OEM embedded telematics system, up from 33 percent in 2017. North America is the most advanced market in terms of premium telematics services with an attach rate of 53 percent. The EU+EFTA region is picking up pace and had an attach rate of 60 percent. Other developed markets such as Japan and South Korea currently have attach rates of approximately 45 percent. China has emerged as an important market for telematics services with an attach rate of about 31 percent in 2018. In other regions, the attach rate is below 15 percent. GM, BMW, MercedesBenz and PSA are the leading adopters of embedded telematics, widely offering the technology as a standard feature across models and geographies. GM has offered telematics services for more than two decades, offering the technology as an integral part of its value proposition in North America, Europe and China. BMW introduced its ConnectedDrive service in North America and Western Europe in 1997. Other major car brands offering embedded telematics on a broad scale include Hyundai, Volkswagen, FCA Group, Volvo Cars, Toyota/Lexus, Renault, JLR and Tesla.
This new report estimates that total shipments of embedded OEM telematics systems reached almost 34.0 million units worldwide in 2018. Growing at a compound annual growth rate of 14.2 percent, the shipments are expected to reach 75.4 million units in 2024. During the same time, the attach rate of embedded telematics units is forecasted to increase from about 41 percent in 2018 to 82 percent at the end of the forecast period. The number of telematics subscribers using embedded systems is forecasted to grow at a compound annual growth rate of 27.1 percent from 80.4 million subscribers in 2018 to 339.3 million in 2024.
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INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 12/23/2019 12:29 PM/DISC: 12/23/2019 12:29 PM