The number of active aftermarket car telematics units is expected to grow at a compound annual growth rate (CAGR) of 20.6 percent from 58.7 million at the end of 2018 to 150.0 million at the end of 2023, according to a new research report from the IoT analyst firm Berg Insight. Aftermarket car telematics solution in this report comprises both cellular/GNSS and RF-based solutions.
The report suggests that a growing number of aftermarket telematics services have in the past few years become available for consumers that want to add services and connectivity to cars. M2M/IoT market research firm based in Sweden forecasts that shipments of aftermarket car telematics devices for consumer applications will grow from 20.3 million units in 2018 to reach 51.0 million in 2023.
Aftermarket car telematics services are offered by a wide range of players. Examples of leading telematics companies selling services via third parties or directly to consumers include Octo Telematics, Spireon, Ituran, Mojio, Scope Technology, Automatic Labs (SiriusXM), CalAmp (LoJack), Bright Box, Viasat Group and Vodafone Automotive.
The report also suggests that many mobile network operators have started to explore the aftermarket car telematics opportunity as the connected car market is highly important for mobile network operators that bet on the Internet-of-Things market. It claims that these companies are also well-positioned to provide such services.