The latest report by Precision Business Insights, titled “Video Telematics Market” covers complete information on market size, share, growth, trends, segment analysis, key players, drivers, and restraints.
According to Precision Business Insights (PBI), the latest report, the video telematics market was valued at USD 937.2 million in 2022 and is expected to grow at a 18.8% CAGR from 2023 to 2029. The primary drivers of the expansion of the global video telematics market include the growing advancement of technologies across the globe. in addition, growing automotive industry is expected to boost the growth of video telematics market over the forecast period.
Passenger Car Segment is expected to Dominate the Video Telematics Market
Based on the application, the global video telematics market is segmented into passenger cars, commercial vehicle, and others. The passenger car segment is expected to account for a larger revenue share in the global video telematics market. The increasing incidence of accidents and increasing adoption of technologies in passenger vehicles for safety is expected to drive the growth of video telematics market in this segment. In addition, increasing concern of safety and increasing disposable income of individual in developed countries increases the sales of passenger car. Thus drive the market growth in this segment.
North America Video Telematics Market:
The North America video telematics market is expected to increase over the forecast period due to the several market players or manufacturers present in this region. In addition, increasing adoption of artificial intelligence and rapid development of technologies in this region is expected to drive the growth of video telematics market in this region. Furthermore, increasing investment in the technological development by the market players and increasing product launches by market players along with the mergers, acquisitions taking place in this region are anticipated to further propel the growth of video telematics market in this region.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The global Video Telematics market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,
The Video Telematics market is segmented based on component, solution, application, and geography.
Based on the component, the market is segmented into the following:
Based on the solution, the market is segmented into the following:
Based on the application, the market is segmented into the following:
Based on geography, the market is segmented into the following:
Key players profiles in the video telematics market report are Sensata Technologies, Mix Telematics, Lytx, Netradyne, Light Metrics Technologies Private Limited, SureCam, SmartDrive Systems Inc., Nauto Inc., Fleet Cam, and Bendix Corporation.