In response to a brand new analysis report from the IoT analyst agency Berg Perception, the full variety of aftermarket automobile telematics shipments worldwide reached 26.7 million in 2023 and is forecasted to succeed in 38.7 million items in 2028.
The put in base of energetic aftermarket automobile telematics items will develop at a compound annual progress charge (CAGR) of 9.0 p.c from 87.7 million on the finish of 2023 to 135.1 million worldwide on the finish of 2028.
Berg Perception’s definition of an aftermarket automobile telematics resolution on this report includes each mobile/GNSS and RF-based options. Aftermarket automobile telematics options are helpful in various utility areas together with stolen automobile monitoring and restoration (SVT/SVR), automobile diagnostics, Wi-Fi hotspot, comfort purposes and usage-based insurance coverage. Distant automobile diagnostics enable service suppliers corresponding to sellers and workshops to enhance service choices to automobile homeowners.
“Even though an increasing number of new cars are sold with embedded connectivity, a varying degree of market success for current OEM telematics services enables aftermarket services to have a promising future even in mature OEM telematics markets”, mentioned Martin Cederqvist, Senior Analyst at Berg Perception.
Aftermarket providers concentrating on a selected buyer group can moreover achieve a bonus in specialisation in comparison with OEM telematics providers which are primarily developed for a variety of use circumstances. Sellers is an instance of a buyer group that aftermarket service suppliers serve efficiently because the telematics providing may be adjusted to suit their enterprise wants.
Regional market circumstances corresponding to a excessive stage of auto crime affect the demand for stolen automobile monitoring and have made SVT options fashionable in international locations corresponding to Brazil, Israel, Russia and South Africa.
Mr. Cederqvist, mentioned:
“The number of active aftermarket SVT units in use is forecasted to reach 91.2 million in 2028, up from 58.2 million at year-end 2023.”
Right now, there are various totally different kind elements relevant for aftermarket automobile telematics starting from professionally put in hardwired blackboxes to self-installed OBD dongles and battery-powered units. Options leveraging mobile applied sciences are commonest throughout the trade, however RF-based options may be discovered in lots of geographical markets and are significantly used for SVT/SVR providers.
Aftermarket automobile telematics providers are supplied by a variety of gamers. Examples of main telematics corporations promoting providers by way of third events or on to customers embrace Octo Telematics, Procon Analytics, StarLine, Spireon, Targa Telematics, Ituran, PassTime GPS, Vodafone Automotive, Tracker Join, Maxtrack, Carsystem, Verizon, Ikon Applied sciences, Mojio, Tail Mild (Bouncie) and Agnik (Vyncs).
Mr. Cederqvist concluded:
“Distributing services and products through third parties is the most common go-to-market strategy for aftermarket car telematics solution vendors. Important sales channels include insurance companies, dealers and importers as well as direct-to-consumer channels such as mobile operators and online retailers.”
