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Global Aftermarket Car Telematics Report 2023: Smartphone-based Telematics Solutions Compete with Aftermarket TelematicsDUBLIN, Aug. 21, 2023 /PRNewswire/ -- The "Aftermarket Car Telematics" report has been added to ResearchAndMarkets.com's offering.  Total shipments of aftermarket car telematics systems reached 28.0 million units worldwide in 2022. Growing at a compound annual growth rate of 11.1 percent, shipments are expected to reach 47.3 million units in 2027. The aftermarket car telematics applications covered in the report include stolen vehicle tracking, roadside assistance, vehicle diagnostics, Wi-Fi hotspot and various convenience applications. Get up to date with the latest industry trends in this new 200-page strategy report. Telematics is a broad term that may be applied to a wide range of automotive connectivity solutions. The definition of an aftermarket car telematics solution in this report includes telematics devices created by a company other than the carmakers and are retrofitted into cars mainly via OBD-II and blackbox devices based on both cellular/GNSS and RF technology. The connected car is a major trend in the automotive industry and virtually all of the world's leading carmakers have launched mass-market services in key regions. The OEM initiatives can be seen as competition for the aftermarket solutions, but there is still a growing demand for different forms of aftermarket car telematics services. Aftermarket telematics still has a dominant position on the market in many parts of the world. Several categories of aftermarket car telematics applications have become popular including roadside assistance, stolen vehicle tracking (SVT), vehicle diagnostics, usage-based insurance, dealer and inventory management, Wi-Fi hotspot as well as convenience applications targeting consumers. The addressable market for aftermarket car telematics solutions is significant. At the end of 2021, there were an estimated 1.31 billion passenger cars and light trucks registered worldwide. Even though aftermarket car telematics services face competition from smartphone-only solutions and OEM solutions, the report analysts are of the opinion that the aftermarket car telematics market is in a growth phase. The report estimates that total shipments of aftermarket car telematics systems reached 28.0 million units worldwide in 2022. Growing at a compound annual growth rate of 11.1 percent, shipments are expected to reach 47.3 million units in 2027. The number of aftermarket car telematics systems in active use is forecasted to grow at a compound annual growth rate of 11.7 percent from 92.2 million in 2022 to 160.7 million worldwide in 2027. The penetration rate will at the same time grow from 6.9 percent in 2022 to 10.7 percent at the end of the forecast period. The market is characterised by a great diversity of players interacting in a complex value chain that spans multiple industries. The car telematics companies targeting the aftermarket car sector include specialists focusing on this application area only as well as general telematics players that serve a broad range of applications including also for example fleet management for commercial vehicles. The leading aftermarket car telematics solution providers have reached installed bases in the millions. Examples of leading car telematics solution vendors include Octo Telematics, Spireon, StarLine, Procon Analytics, Targa Telematics, Vodafone Automotive, Ituran, SareKon, PassTime GPS, SVR Tracking, Mojio, CalAmp (LoJack) and Viasat Group. The most common go-to-market strategy is to partner with insurance companies, dealers, OEMs, MNOs and vehicle finance companies. Leading companies delivering telematics hardware and related services to the aftermarket car telematics market include Danlaw, Sensata Insigts, Gosuncn, Munic, Jimi (Concox), Positioning Universal, Queclink and Teltonika. Stolen vehicle recovery and security-related telematics applications are mature aftermarket car telematics applications whereas other direct-to-consumer car telematics solutions have more recently started to emerge. Regional market conditions such as a high level of vehicle crime influence the demand for stolen vehicle tracking and have made SVT solutions popular in countries such as Brazil, Argentina, China, Israel, Russia and South Africa. Vehicle theft has increased in the past years in many countries. For example, there were thefts of 1 million motor vehicles in the US in 2022 according to the National Insurance Crime Bureau (NICB). The number of dedicated active aftermarket SVT units in use worldwide is forecasted to reach 88.7 million in 2027, up from 55.1 million at year-end 2022. Telematics has become an important part of the aftersales programmes of dealers and vehicle finance companies, enabling remote diagnostics and direct communication with drivers. There is a tremendous opportunity to turn a reactive way of managing customers into a proactive process by integrating CRM solutions, using data from cars intelligently. Collecting data from the fleet on the lot is also valuable for dealers in order to for example collect information about faulty components and software bugs as well as battery status. Direct-to-consumer car telematics offerings are available to a varying degree in many regions by companies such as Bouncie, Mojio, Verizon, CarLock and Net4Things. Many direct-to-consumer car telematics providers have broadened their product portfolios to include additional telematics application areas such as fleet management as well as powering B2B2C telematics services. Key Topics Covered: The Global Passenger Car Market
Car Telematics Solutions
Market Forecasts and Trends
International Car Telematics Service Providers
Company Profiles and Strategies Providers of SVT/SVR and related services
Consumer telematics solutions providers
Technology vendors
For more information about this report visit https://www.researchandmarkets.com/r/x89d2s About ResearchAndMarkets.com Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1907 Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets 
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