The rising demand for smoother road traffic and safer driving is fueling the popularity of automotive telematics solutions in Germany. Road traffic jams, deaths, and serious injuries are some of the undesirable outcomes of road travel. Moreover, human error is the leading cause of road accidents and crashes. Human drivers are more likely to make errors such as the speeding and the inability to accurately gauge the safe distance from the front vehicle and the surroundings than advanced technology-based systems.
As per the provisional results of the Federal Statistical Office (Destatis), more than 1,281 deaths were recorded in Germany during the first six months of 2020. This can be significantly reduced with the integration of various telematics solutions in vehicles. These solutions provide a very safe driving experience to drivers. Besides these factors, the increasing enactment of favorable government policies regarding the adoption of telematics in vehicles in the country is also fueling the demand for these solutions.
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Due to the above-mentioned factors, the popularity of automotive telematics is rising rapidly in Germany. This is causing the expansion of the German automotive telematics market. As per the estimates of P&S Intelligence, a market research company based in India, the market value would grow from $1,408.2 million in 2019 to $7,748.0 million by 2030. Additionally, the market is expected to register a CAGR of 16.5% from 2020 to 2030.
The most widely used products in the industry are integrated, tethered, and embedded. Amongst these, the usage of the embedded telematics solutions was observed to be the highest in the past years and this trend is likely to continue in the coming years as well. This is ascribed to the various regulatory mandates that are being implemented in the European Union (EU). The growing requirement for cloud-based services is also propelling the demand for these solutions.
Besides the aforementioned factors, the rising demand for the cost optimization of various service plans is also fueling the popularity of embedded telematics solutions. Remote diagnostics, safety and security, fleet/asset management, infotainment and navigation, insurance telematics, and vehicle-to-everything (V2X) services are the most widely used telematics services in Germany. Out of these, the requirement for safety and security telematics services is predicted to rise rapidly in the country in the forthcoming years.
One of the major trends currently being observed in the German automotive telematics market is the growing incorporation of telematics solutions in off-highway automobiles. The improved efficiency and productivity of these automobiles, the rising requirement for off-highway automobile data analysis, and the growing need for reducing the operational costs usually associated with their maintenance and repair are the other important factors pushing up the popularity of automotive telematics solutions in the country.
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Hence, it can be said with certainty that the demand for automotive telematics solutions would surge in Germany in the upcoming years, primarily because of the growing incidence of road accidents and the rising requirement for advanced and safer driving solutions in the country.