Increasing Adoption of Technology Will Continue to Fuel the Asia Pacific Automotive Telematics Market During 2014 – 2020

Title: Increasing adoption of technology will continue to fuel the Asia Pacific automotive telematics market during 2014 – 2020, says Future Market Insights

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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 telematics market at a double-digit CAGR during the forecast period. During this period, the contribution of the telematics market in the Asia Pacific region to the overall market is projected to increase from 26% to 30%, reflecting an increase of 400 BPS.

Browse: Asia Pacific Automotive Telematics Market

This growth is attributed to high penetration of technologies and steadily increasing GDP. Moreover, Asia Pacific benefits from the presence of established vendors in the commercial vehicle telematics market, which includes PeopleNet, FleetMatics, Trimble, Telogis and Omnitracs. Furthermore, over 42% of the world’s Internet users in Asia (2013), combined with hundreds of millions of 4G users, will fuel growth of the Asia Pacific automotive telematics market during the forecast period.

FMI lead consultant, Nikhil Kaitwade, sheds light on why Asia Pacific will emerge the fastest growing market in the near future. “Telematics in the automotive industry has become increasingly relevant with a palpable emphasis on safety and security globally. New business models combined with increased technology adoption and remote vehicle diagnostics is fuelling growth of the Asia Pacific automotive telematics market,” he said.

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