New research report from the IoT analyst firm Berg Insight has found the number of telematics service subscribers using embedded systems will grow at a compound annual growth rate of 14.6%, with 75% of new cars last year having such systems.
The numbers are expected to rise from 239.7 million subscribers at the end of 2023 to 473.8 million subscribers by 2028.
They point out that today, most OEM telematics services focus on core propositions such as emergency assistance, roadside assistance, and remote control, which are made available as standard or premium subscriptions. A new generation of connected entertainment services has been launched in the past few years. These services include for example video and music streaming, gaming and video calls.
The analysts say shipments of embedded car OEM telematics systems worldwide are expected to grow from 59.3 million units in 2023 to reach 82.9 million units in 2028, representing an attach rate of 94 percent at the end of the forecasted period.
The market grew for the second consecutive year and reached pre-pandemic levels. Berg Insight anticipates high growth of OEM telematics subscribers in the next years as connected car services become ubiquitous in all major car markets.
(Picture – Yay Images)
