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

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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 optimization
  • Key Trend – Integration of AR and VR in motor racing telematics
  • Major 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

Related Reports:
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.

Motor Racing Telematics (MRT) Market Scope

Report Coverage

Details

Historic period

2017-2021

Growth momentum & CAGR

Accelerate at a CAGR of 9.18%

YoY growth 2022-2023 (%)

8.21

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Key countries

US, China, Germany, France, and UK

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

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact US:

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio



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