Report : Middle East & Africa Automotive Telematics Market Forecast to 2030 - Regional Analysis - by Offering (Hardware and Software & Services), Connectivity (Integrated, Tethered, and Embedded), Vehicle Type (Passenger Cars and Commercial Cars), and Application (Infotainment, Remote Diagnosis, Navigation (GPS), Safety and Security, and Others)
At 16.0% CAGR, Middle East & Africa Automotive Telematics Market is Projected to be Worth US$ 9,291.62 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa automotive telematics market was valued at US$ 2,836.14 million in 2022 and is expected to reach US$ 9,291.62 million by 2030, registering a CAGR of 16.0% from 2022 to 2030. Increasing installation of telematic devices by automotive OEMs and mounting adoption of IoT and AI in fleet management are among the critical factors attributed to drive the Middle East & Africa automotive telematics market.
Automotive telematics is the combination of several hardware and software solutions, including GPS systems, onboard vehicle diagnostics, wireless telematic devices, and other solutions used to transmit the record and vehicle's data. Telematic devices control several parameters, such as location, speed, maintenance requirements, and services. Automotive telematics is a system of monitoring vehicles such as cars, automotive equipment, trucks, and other assets with the help of GPS technologies. Increasing automotive sales and production with built-in advanced telematics systems across the globe is driving market growth. Automotive manufacturers use connectivity options, including automotive telematic solutions and software, to create a connected vehicle. Carmakers use a combination of GPS devices, accelerometers, gyroscopes, and connected solutions to meet customer requirements for the vehicles. There are several major components used in automotive telematics, which are:
- Input and output interface
- GPS receiver
- Accelerometer
- Buzzers
- SIM card
- Engine interface
- Others
On the contrary, the data privacy and security concerns hampers the growth of Middle East & Africa automotive telematics market.
Based on offering, the Middle East & Africa automotive telematics market is bifurcated into hardware and software & services. The hardware segment held 63.9% market share in 2022, amassing US$ 1,813.65 million. It is projected to garner US$ 5,182.10 million by 2030 to register 14.0% CAGR during 2022-2030. The hardware is further sub segmented into telematics control units, navigation system, in-vehicle infotainment units, and others.
In terms of connectivity, the Middle East & Africa automotive telematics market is categorized into integrated, tethered, and embedded. The embedded segment held 38.6% share of Middle East & Africa automotive telematics market in 2022, amassing US$ 1,095.23 million. It is anticipated to garner US$ 3,264.80 million by 2030 to expand at 14.6% CAGR during 2022-2030.
By vehicle type, the Middle East & Africa automotive telematics market is bifurcated into passenger cars and commercial cars. The passenger cars segment held 68.4% share of Middle East & Africa automotive telematics market in 2022, amassing US$ 1,939.84 million. It is projected to garner US$ 5,879.12 million by 2030 to expand at 14.9% CAGR from 2022 to 2030.
By application, the Middle East & Africa automotive telematics market is categorized into infotainment, remote diagnosis, navigation (GPS), safety and security, and others. The infotainment segment held 27.0% share of Middle East & Africa automotive telematics market in 2022, amassing US$ 764.74 million. It is anticipated to garner US$ 2,598.24 million by 2030 to expand at 16.5% CAGR during 2022-2030.
By country, the Middle East & Africa automotive telematics market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 34.1% share of Middle East & Africa automotive telematics market in 2022. It was assessed at US$ 966.20 million in 2022 and is likely to hit US$ 3,003.60 million by 2030, registering a CAGR of 15.2% during 2022-2030.
Key players operating in the Middle East & Africa automotive telematics market are Verizon Communications Inc, ORBCOMM Inc, Trimble Inc, Valeo SE, TomTom NV, Denso Corp, Luxoft Switzerland AG, and Harman International Industries Inc, among others.
2022: ORBCOMM Inc., a global provider of Internet of Things (IoT) solutions, announced that it has added new feature enhancements to its data-driven truck telematics solution to improve the visibility, efficiency, safety and experience for fleets, drivers and their customers.
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