Automotive Telematics Insurance Market Share, Trends & Industry (2018–2022)
The innovation in automotive ecosystem is led by connected car technology which is an essential part of the smart vehicle architecture. The increasing number of research and development (R&D) activities for autonomous driving has resulted in significant demand for the emerging technology in the market.
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The competition in the automotive industry has grown to higher levels which have engraved a thriving race to introduce premium/advanced technological reforms throughout all the vehicle segments. The industry faces issues such as control on environmental emissions, growing road safety concerns, and cost optimization of various resources within the supply chain — all of which together account for a major share of research investment. These issues can be resolved by understanding the customers (drivers) and their driving ecosystem. In-cabin smart service integration is one of the solutions that aim to reduce a commuter’s effort to perform various activities while traveling in the vehicle.
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The key for the automotive industry is telematics, which has the ability to drive smart vehicle system design. Telematics is a platform of communication which collects data from a vehicle in real time and transmits it to the data analytics center from which the data is then processed and sent back to the vehicle as per the selected service application.
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