Embedded car OEM telematics subscribers to reach 317 million worldwide by 2025
ItemDate=2021-03-24 00:17:25 Status=publish
#News(General) [ via IoTGroup ]
According to a new research report from the IoT analyst firm Berg Insight, the number of telematics service subscribers using embedded systems will grow at a compound annual growth rate (CAGR) of 20.7 percent from 102.8 million subscribers at the end of 2019 to 317.2 million subscribers at the end of 2025. Moreover, Berg Insight forecasts that shipments of embedded car OEM telematics systems worldwide will grow from 39.6 million units in 2019 to reach 71.2 million units in 2025, which represents an attach rate of 85.8 percent. New passenger car and light truck registrations declined 4.9 percent to 78.1 million worldwide in 2019.
Berg Insight still anticipates high growth of OEM telematics subscribers in the next years as connected car services become ubiquitous in all major car markets. Connected car services have evolved from being a differentiating factor to a common feature with a high attach rate among the premium car brands and are rapidly becoming increasingly common in mid-range vehicles. BMW had the second largest user base of an estimated 12.5 million connected vehicles. PSA Group is also a leading carmaker with 5.2 million connected vehicles in Europe via Peugeot, Citroën and DS. Additional automotive OEMs with over 4 million telematics subscribers also include Volkswagen, Toyota
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