Report Code : A10603
By solution, the fleet/vehicle management segment dominated the Southeast Asia automotive OEM telematics market in 2016, in terms of revenue, and is expected to lead the market over the forecast period. By channel, the OEM segment is anticipated to witness lucrative growth over the forecast timeframe. By vehicle type, the LCV/vans segment dominated the automotive OEM telematics market in 2016 in terms of revenue. In 2016, Thailand was the highest revenue contributor, followed by Indonesia.
Mayank Halmare
Lead Analyst, Automotive and Transportation at Allied Market Research
According to a recent report published by Allied Market Research, titled, “Automotive OEM Telematics Market by Solution, Channel, and Vehicle Type: Southeast Asia Opportunity Analysis and Industry Forecast, 2020–2025,”
The Southeast Asia automotive OEM telematics market was valued at $1.18 billion in 2016, and is projected to reach $5.56 billion by 2025, registering a CAGR of 19.3%.
Thailand dominates the market in terms of revenue, followed by Indonesia, Vietnam, and the Philippines. Thailand dominated the Southeast Asia automotive OEM telematics market share in 2016, and Vietnam is expected to grow at a significant rate during the forecast period due to increasing awareness regarding the benefits of adopting automotive OEM telematics. Automotive OEM telematics is gradually growing in the Philippines and a rising number of companies are offering automotive telematics in Indonesia.
Telematics technology is one of the largest evolving sectors across the world, wherein technological advancements in mobile communications have made it possible to identify and determine any unfavorable changes in vehicle in real-time. The Southeast Asia automotive OEM telematics market is attaining momentum in the Southeast Asia region and holds great prospects to the merchants and market vendors in the future. Across the Southeast Asia region, particularly in Thailand and Indonesia, the automobile manufacturers are installing more and more telematics to simultaneously check the performance and discover any faults in vehicles, thereby meeting the increased demand from users regarding wireless connectivity.
Currently, the rising demand for automotive telematics is being leveraged by OEMs to manufacture automobiles that incorporate larger telematics features to stand out from its competitors. The biggest advantage delivered by telematics is Cloud connectivity. It allows easy data collection and storage based on various automobile factors such as vehicle performance, its location, and maintenance needs. As a result of getting this useful information on the go, vehicle owners are offered a service that gives them the ability to keep track of a large number of fleet vehicles, get social updates and infotainment on the go, check traffic conditions in real-time, and much more. For instance, Teltonika, a company that offers cloud-based telematics solutions, has a good presence in Vietnam.
By solution, the Southeast Asia automotive OEM telematics market has been segmented into telematics insurance, fleet/vehicle management, telematics maintenance, location information services, infotainment, in car marketing, smart contracts, and others. The fleet/vehicle management segment accounted for the highest revenue in 2016 as it enables improved tracking, flexibility in route planning, efficient use of capacity, and reduced fuel consumption. Moreover, the smart contracts segment is anticipated to witness significant CAGR over the forecast timeframe. Smart contract automatically credits the due amount to the policyholder’s account. The growth in use of smart contracts for secure and automatic credit of amount in policyholder’s account acts as a driver for growth of the automotive OEM telematics market.
By vehicle type, the Southeast Asia automotive OEM telematics market has been fragmented into HCV, MCV, LCV/vans, bus, taxis or ride hailing, and others. The LCV/vans segment dominated the Southeast Asia automotive OEM telematics market in 2016 as light commercial vehicles fulfill an important role within the logistics & transportation industry. Moreover, numerous light commercial vehicle operators are making use of telematics to drive the efficiency and performance of their fleets. Moreover, the HCV segment is expected to witness lucrative growth during the forecast period. In the heavy vehicle industry, telematics has helped to vastly improve fleet safety, increase efficiency, reduce operating costs, monitor safety habits, optimize vehicle performance, and offer other benefits.
The flourishing transport & logistics sector in Southeast Asian countries and increasing use of cloud-based technology for automotive telematics solution are expected to drive the automotive OEM telematics market growth over the forecast period. However, high costs associated with automotive telematics and the threat of vehicle hacking are anticipated to hamper the growth of the market during the forecast period. Moreover, smart transportation system and rising demand for connected vehicles are expected to offer lucrative opportunities for the market in future.
COVID-19 Impact Analysis
Key Findings Of The Study
Key players operating in the Southeast Asia automotive OEM telematics market include AT&T Inc., Continental AG, Harman International, LG Electronics Inc., Robert Bosch GmbH, Texas Instruments Incorporated, UD Trucks Corp., Valeo, Verizon Communications Inc., and Webfleet Solutions B.V.
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Southeast Asia Automotive OEM Telematics Market by Solution (Telematics Insurance, Fleet/Vehicle Management, Telematics Maintenance, Location Information Services, Infotainment, In Car Marketing, Smart Contracts, and Others), Channel (OEM and Direct Sales), and Vehicle Type (HCV, MCV, LCV/Vans, Bus, Taxis or Ride Hailing, and Others): Southeast Asia Opportunity Analysis and Industry Forecast, 2020–2025
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