Germany Automotive Telematics Market To Value $7,748.0 Million by 2030

  • Published: October 2020

The German automotive telematics market is expected to be valued at $7,748.0 million by 2030, exhibiting a CAGR of 16.5% during the forecast period (2020–2030). The growing preference for the development of an improved and safer driving alternative, coupled with the presence of government support in terms of policies, is the major driver for the market.

However, the COVID-19 pandemic has been adversely impacting the German automotive telematics market. The pandemic has resulted in a decline in the overall vehicle sales in aGermany. For instance, commercial vehicle sales are expected to stand at 0.36 million units in 2020, whereas in 2019, 0.41 million units were sold; this comes out to a 12.4% decline. This declining sale of vehicles is expected to create hindrances in the growth of the German automotive telematics market.

Embedded Category To Continue To Dominate Market in Forecast Period

On the basis of product type, the German automotive telematics market is categorized into embedded, tethered, and integrated. Out of these, the embedded category is expected to remain the largest during the forecast period. Regulatory mandates in the European Union (EU) are driving embedded telematics system adoption in the country.

Regulatory mandates of the European Union (EU) are driving embedded telematics system adoption in the country. The embedded telematics category growth during the forecast period is also attributed to factors such as the increase in the demand for cloud-based services and need for the cost optimization of service plans.

On the basis of service, the German automotive telematics market is categorized into safety and security, infotainment and navigation, remote diagnostics, fleet/asset management, insurance telematics, vehicle-to-everything (V2X), and others. Among these, the safety and security category is expected to witness the fastest growth in the industry in the forecast period.

Safety and security solutions often address the concerns associated with the transportation of passengers and valuable goods. The government of the country is forming policies and regulations for traffic and transport management, with a special focus on the technological aspect.

Market Players Are Involving in Partnerships to Gain Competitive Edge

Players in the German automotive telematics market are entering into partnerships and collaborations to increase their market share. For instance, in October 2019, Geotab Inc. and Volvo AB signed a partnership agreement, under which the former company is offering its connected vehicle technology to Volvo AB. Additionally, Volvo AB is working to launch a fully integrated electronic logging device (ELD) for its trucks, using Geotab’s technology.

Similarly, in January 2019, Valeo S.A. entered into a partnership with Mobileye NV with the intention to develop and promote a new autonomous vehicle safety standard. The safety standard would be based on Mobileye NV’s mathematical safety model, responsibility-sensitive safety (RSS), and the partnership aims to initiate its widespread adoption.

Some of the foremost players operating in the German automotive telematics market are Robert Bosch GmbH, Valeo S.A., Continental AG, MiX Telematics Ltd., Verizon Communication Inc., AREALCONTROL GmbH, FleetGO Group Ltd., MAC & NIL srl, frameLOGIC PL, Emixis SA, CVS Mobile Inc., Mireo d.d., Axtech AB, Transpoco, and Loqus Holdings p.l.c.