Motor Racing Telematics (MRT) Market to grow by USD 241.43 million from 2022 to 2027 | Market is fragmented due to the presence of prominent companies like Agero Inc., Airbiquity Inc. and Aptiv Plc, and many more – Technavio

NEW YORK, Nov. 28, 2023 /PRNewswire/ — The motor racing telematics (MRT) market is estimated to grow by USD 241.43 million from 2022 to 2027, growing at a CAGR of 9.18%. The motor racing telematics (MRT) market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer motor racing telematics (MRT) market are Agero Inc., Airbiquity Inc., Aptiv Plc, AT and T Inc., Bridgestone Corp., Bynx Ltd., Comtech, Continental AG, DXC Technology Co., Emkay Inc., iLink Digital Inc., OCTO Telematics S.p.A, PTC Inc., Robert Bosch GmbH, Telefonaktiebolaget LM Ericsson, Valeo SA, Verizon Communications Inc., Visteon Corp., Vodafone Group Plc, and Volkswagen AG. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying

Company Offering:

Agero Inc. – The company offers motor racing telematics such as Agero connected vehicle service.Airbiquity Inc. – The company offers motor racing telematics such as Airbiquity safety and security software.Aptiv Plc – The company offers motor racing telematics such as Aptiv Connect.For details on companies and their offerings – Buy the report!

By Geography, the market is classified as Europe, North America, APAC, South America, and Middle East and Africa. Europe will have the largest share of the market. Europe will contribute 37% to the growth of the global market during the forecast period. The regional motor racing telematics market has grown steadily in recent years owing to the development of technology and the growing popularity of motorsport. Various companies have unveiled the most advanced GPS tracking devices, data loggers, and telemetry systems designed specifically for racing applications. As a result of the strong commitment to the sustainability of the European motorsports community, eco-friendly telemetry systems have become popular, allowing for efficient fuel use and reduced carbon emissions. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.

Impactful driver- Increasing demand for performance optimizationKey Trend – Integration of AR and VR in motor racing telematicsMajor Challenges – High costs associated with telematics services

 Market Segmentation

By Application, the M2M segment led the global motor racing telematics market during the forecast period. The segment is driven by the rapid adoption of M2M applications in countries such as China, India, Thailand, and Singapore. In addition, the increasing stringency of regulations regarding the mandatory incorporation of automotive safety systems is expected to drive the growth of the segment during the forecast period. The mandatory integration of automotive security systems, such as eCall, in all New car models is driving M2M connectivity and M2M cybersecurity solutions.

Technavio Research experts have provided more insights on the market share of segments – View a Free Sample Report

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The Commercial Telematics Market Size is estimated to grow by USD 13.01 billion between 2022 and 2027 accelerating at a CAGR of 5.88%.

The automotive telematics market size is estimated to grow at a CAGR of 18.34% between 2022 and 2027. The market size is forecast to increase by USD 91.86 billion.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio