Car Sharing Telematics Market Research, 2033
The global car sharing telematics market was valued at $259.3 million in 2023, and is projected to reach $872.8 million by 2033, growing at a CAGR of 13.2% from 2024 to 2033.
Market Introduction and Definition
Car-sharing telematics is a type of technology implemented in vehicles that are utilized for car-sharing vehicles in the car sharing telematics industry. Car-sharing telematics includes the integration of telecommunications and informatics, through global positioning system (GPS) tracking sensors and communication systems to supervise and control vehicles on a remote level. Car-sharing telematics hardware assists organizations in tracking the location, use, and vehicle conditions in real time. The hardware comprises of equipment such as GPS trackers, onboard diagnostics (OBD) units, sensors for supervising fuel levels and health of the vehicle, and communication modules for communicating data to a central server. By deploying car-sharing telematics hardware, service providers help in the efficient management of vehicle fleets, improving directing, ensuring the safety of the vehicle, and providing improved user experience for customers through features such as remote vehicle unlocking and keyless entry.
Key Takeaways
The car-sharing telematics market study covers 20 countries. The research includes a segment analysis of each country in terms of value ($Million) for the projected period.
More than 1,500 product literatures, industry releases, annual reports, and other such documents of major car-sharing telematics industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
Key Strategies and Developments
In June 2022, Samsara Incorporation partnered with Free2move, a global provider of linked data, fleet, and mobility services, a division of Stellantis, and formed a new solution. Through the new solution, customers have access to Stellantis embedded telemetry data, including GPS location, engine hours, fuel consumption, and tire pressure.
In September 2023, Thrifty Car maken Rental Company launched the Flexi Connect solution. It gives companies access to a fleet of long-term rental cars that individual employees can reserve for as minimum as 15 minutes at a time and get rapid access via a secure radio frequency identification (RFID) card or a mobile smartphone.
In June 2022, Geotab, a leader in the world of IoT and connected transportation solutions, partnered with Renault to integrate its My Geo tab fleet management platform with the telematics capabilities of Renault cars. This strategy was implemented to help the fleet managers to take educated decisions and offer connectivity solutions to fleets of any size.
In May 2024, Invers GmbH launched fleet guard solution for theft and joyride detection in car sharing. Fleet Guard is a software-only product that uses high-quality real-time vehicle data from CloudBoxx. CloudBoxx is a car-sharing telematics unit that is trusted by many users.
In October 2023, OCTO Telematics entered into a partnership with Flexcar, the smart alternative to car ownership, focused on adding OCTO’s connected vehicle capabilities to Flexcar’s fleet across the United States. Flexcar wants to make sure that its cars are always being checked for the best possible condition and that OCTO can help out in the case of an accident.
Key Market Dynamics
Growing environmental concerns and increasing urbanization are two prime factors driving the growth of the global car sharing telematics industry. Furthermore, high investment costs and data privacy issues are two significant factors restraining the growth of the global car-sharing telematics market. Moreover, integration with mobile applications factor provides an important opportunity for the growth of global car-sharing telematics market. Advanced telematics can integrate seamlessly with mobile applications, providing users with real-time information on vehicle availability, location, and booking options. Features such as keyless entry, remote start, and customizable vehicle settings enhance convenience and user satisfaction.
Market Segmentation
The car-sharing telematics market is segmented into service, business model, form, and component. Based on service, the market is divided into automatic crash notification, emergency, navigation, assistance & access, diagnostics, fleet management, billing, and others. Depending on the business model, the market is divided into subscription-based models, pay-per-use models, corporate fleet management, partnerships with OEMs, and others. Based on form, the market is divided into embedded, tethered, and integrated. Based on components, the market is divided into GPS receivers, accelerometers, engine interfaces, sim cards, software, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Regional/ Country Market Outlook
North America is a leading market for car-sharing telematics, driven by high urbanization rates, technological advancements, and supportive regulatory frameworks. Zipcar, Turo, and Car2Go are some of the key players dominating the global car-sharing telematics market in the North American region and increasing the car sharing telematics market growth.
Europe is experiencing significant growth in car sharing telematics market forecast, supported by stringent environmental regulations and a strong push towards sustainable urban mobility. DriveNow, BlaBla Car, and Green Mobility are some of the key players dominating the global car-sharing telematics market in the Europe region.
The Asia-Pacific region is poised for rapid growth due to factors such as increasing urbanization, rising disposable incomes, and significant investments in smart city initiatives. These factors are pushing the growth of car sharing telematics market opportunity. Didi Chuxing, Grab, and Socar are the main key players dominating the global car-sharing telematics market in the Asia-Pacific region.
The car-sharing market in Latin America is emerging due to growing urbanization and interest in reducing traffic congestion and pollution. Urban, Zazcar, and Awto are the significant key players dominating the global car-sharing telematics market in the Latin America region.
Competitive Analysis
The major players operating in the car sharing telematics market size include Cal/Amp, Geotab Inc., Invers GmbH, Octo Group Spa, Ridecell Inc., Samsara Inc., Verizon, Vulog, Mobility Tech Green, Targa Telematic, Openfleet, WeGo BV, Fleester, MoC Sharing, and Convadis AG. These players adopted partnership and product launch strategies to increase their market share in the global car sharing telematics market size.
Industry Trends
In June 2021, HDI Seguros, a leading auto insurance company in Mexico, partnered with Cambridge Mobile Telematics (CMT) , the world’s largest telematics service provider, and launched HDI iDriving, a complete safety solution based on mobile telematics that helps drivers improve on risky driving behavior, detect crashes, and provide a proactive response in the event of an accident.
In January 2020, CalAmp, subsidiary LoJack Mexico collaborated with Volkswagen Financial Services (VWFS) Mexico to add real-time car monitoring, diagnostics, and driver behavior analytics to its full-service leasing products. LoJack México's state-of-the-art telematics will be installed in select light, heavy-duty, long-haul trucks and buses leased through more than 300 VWFS clients across?Mexico. These new features will enable fleet managers to increase operational efficiencies, minimize the risk of theft, and improve driver safety when leasing vehicles through VWFS.
In May 2023, Admiral Group partnered with Ford Smart Mobility and telematics provider Redtail Telematics and launched Admiral Live, a connected car offering that enables Ford vehicle owners with eligible vehicles to share driving data collected directly from their cars.
Key Sources Referred
Free2move.com
Ridecell.com
Geotab.com
Invers.com
Globenewswire.com
Prnewswire
Businesswire
Coverager
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the car sharing telematics market analysis from 2024 to 2033 to identify the prevailing car sharing telematics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the car sharing telematics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global car sharing telematics market trends, key players, market segments, application areas, and market growth strategies.
Car Sharing Telematics Market Report Highlights
| Aspects | Details |
 Market Size By 2033 | USD 872.8 Million |
 Growth Rate | CAGR of 13.2% |
 Forecast period | 2024 - 2033 |
 Report Pages | 250 |
 By Service |
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 By Business Model |
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 By Form |
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 By Component |
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 By Region |
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 Key Market Players | Cal/Amp, Ridecell Inc., Verizon, Openfleet, Invers GmbH, MoC Sharing, Samsara Inc., Convadis AG, Targa Telematic, Fleester, WeGo BV, Octo Group Spa, Mobility Tech Green, Vulog, Geotab Inc. |
Growing environmental concerns and increasing urbanization are the upcoming trends shaping the future of car sharing telematics market.
Fleet management is the leading application of car sharing telematics market.
North America is the largest regional market for car sharing telematics.
$872.8 Million is the estimated industry size of car sharing telematics.
Cal/Amp, Geotab Inc., Invers GmbH, Octo Group Spa, Ridecell Inc., Samsara Inc., Verizon, Vulog, Mobility Tech Green, Targa Telematic, Openfleet, WeGo BV, Fleester, MoC Sharing, and Convadis AG. are the top companies holding the market share in car sharing telematics
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