Title: Increasing adoption of technology will continue to fuel the Asia Pacific automotive telematics market during 2014 – 2020, says Future Market Insights
London, December 29, 2014: Future Market Insights (FMI) with sharp focus on emerging regions delivers key insights about the Asia Pacific automotive telematics market in its recent report titled, “Asia Pacific Automotive Telematics — Market Analysis and Opportunity Assessment, 2014 – 2020”. According to this report, the global telematics market is expected to expand at a single-digit CAGR during forecast period 2014–2020. On the other hand, Asia Pacific will demonstrate the fastest growth in the global automotive ...view middle of the document...
The three key technologies that will drive the Asia Pacific automotive telematics market are:
Embedded Technology – Currently, this segment dominates the Asia Pacific automotive telematics market. Greater ease of assembly, ease of troubleshooting, reliability of components and fall in cost of electronic parts are factors driving demand for automotive embedded systems in this region. Increasing use of cloud-based telematics will also influence the Asia Pacific automotive telematics embedded technology market segment. FMI projects that this segment will display a double-digit CAGR during the forecast period.
Tethered Technology – The tethered technology segment in the Asia Pacific automotive telematics market will demonstrate the lowest growth at a single-digit CAGR during forecast period 2014–2020.
Smartphone Technology – Price advantages and growing smartphone penetration will fuel growth of the smartphone technology segment in the Asia Pacific automotive telematics market. FMI anticipates that evolving smartphone technology will witness the highest CAGR in double digits during the forecast period.
Currently, North America dominates the global automotive telematics market, followed by Europe. High penetration of the aforesaid technologies in Asia Pacific combined with saturation of European and North American markets will continue to fuel growth of the Asia Pacific automotive telematics market.
Elaborating on this trend, Kaitwade further stated, “In order to differentiate their product offerings, automotive OEMs are integrating telematics technologies into vehicles they manufacture.”
In addition, the expanding safety and security end-user segment and increasing prominence of...