Benelux Vehicle Telematics Market size was valued at USD 7.2 billion in 2021, growing at a CAGR of 16.2% during the forecast period 2022 to 2028. The market provides a detailed overview of the market, and that can be segmented by Component, Sales Type, Technology, Vehicle Type, and by Application. By component, the Benelux vehicle telematics market has been segmented into Hardware, Software, and Services. The hardware vehicle telematics segment is likely to be the largest and fastest-growing segment in terms of type. Based on sales type, the Benelux vehicle telematics market is segmented into OEM and Aftermarket. Among these, the OEM segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on technology, the Benelux vehicle telematics market is segmented into Embedded, Integrated Smartphones, and Tethered. The embedded segment accounts for the largest share in 2021. The integrated smartphones segment is the second-largest share during the forecast period 2022-2028. Based on the vehicle type, the segment has been segregated into Passenger cars, LCVs, Trucks, buses, and Others. The passenger car segment is expected to dominate other segments in the Benelux vehicle telematics market. Based on application, the Benelux vehicle telematics market is segmented into Fleet/Asset Management, Navigation & Location-based Systems, Infotainment Systems, Insurance Telematic, Safety & Security, V2X, Driver Behaviour, Billing Services, and Others. The Safety & Security segment accounts for the largest share in 2021.
In May 2022, The automotive retail solutions provider Carlow which services more than 400 car dealers and important automotive OEMs in Belgium, the Netherlands, and Luxembourg, have gone into advanced negotiations for the acquisition. Both motor and Carlow have entered into binding, exclusive agreements and are moving diligently to finalize them.