Market Trends of Automotive Telematics System Industry
Safety and Security to Witness Faster Growth
- Tracking stolen vehicles, automatically alerting the help centers in case of accidents, driver monitoring, and remote locking/unlocking of vehicles are the typical applications offered under the safety and security features of telematics devices.
- To reduce road accidents, governments are raising the bar for the safety evaluation of vehicles and reducing the turnaround time for medical help to vehicle operators in case of emergencies.
- Additionally, players in the automotive industry have been consistently working to improve vehicle safety and security features by enhancing vehicle telematics technology to meet the growing regulation standards in the respective regions.
- In March 2022, Navistar announced it would include a factory-installed telematics device as standard on all new builds of the complete Class 6-8 International Truck and IC Bus vehicle product portfolios, including electric models.
- The above trends toward the development of vehicle telematics and growing safety standards in the automotive industry are likely to drive automakers to incorporate more safety and security features in their new vehicle models as a standard. Therefore, it is expected that there will be faster growth in the market for telematics devices used for vehicle safety and security applications during the forecast period.
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Asia-Pacific Expected to Capture Major Market Share
- Asia-Pacific is one of the fastest emerging markets, due to its growing demand for fuel-efficient vehicles, along with the navigation feature (such as GPS) as a standard option to tackle issues like growing fuel prices, increasing number of accidents, and vehicle thefts.
- India recently released its first Automotive Research Association of India (ARAI) certified AIS (Automotive Industry Standard) 140 - a compliant vehicle telematics and emergency button solution.
- The AIS 140 regulation is in line with the Indian Ministry of Road Transport and Highways (MoRTH) 2016 dictate. The implementation of the AIS 140 regulation began on April 1, 2018, and it mandated a vehicle tracking device and one or more emergency buttons in all existing and new public service vehicles.
- In April 2022, Borqs Technologies, Inc. announced that it is collaborating with Qualcomm Technologies, Inc. to engage in the R&D and sales of automobile telematics products, especially for the Indian and Southeast Asia markets. The products include an in-vehicle-infotainment system (IVI) and Telematics Control Unit (TCU) for two and three-wheelers. All of these products are based on technologies in Qualcomm chipsets.
- Implementing such regulations toward improving vehicle safety and security across Asia-Pacific countries is expected to propel faster adoption of vehicle telematics during the forecast period.
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