- Telematics shipments in India are expected to reach 50 million units in 2030 at a CAGR of 31% from 2021.
- Rising demand for EVs, ubiquitous 4G connectivity and favourable policies will act as potential drivers.
- According to Counterpoint’s CORE evaluation, iTriangle leads the overall rankings for India’s telematics ecosystem, followed by Teltonika and Bosch.
India is the world’s second-largest automotive and mobility market in terms of production volume. It offers significant opportunities for connected telematics due to its sheer scale as well as the growing design and manufacturing ecosystem. Telematics penetration in 2021 was just 2% of the total number of vehicles on the road. According to Counterpoint’s India Telematics Ecosystem Analysis, telematics shipments are expected to reach 50 million units in 2030 with a CAGR of 31% from 2021. Currently, iTriangle leads the overall rankings for India’s telematics ecosystem in Counterpoint’s CORE evaluation.
Commenting on the market dynamics, Senior Research Analyst Soumen Mandal said, “Presently, India’s telematics market is at a nascent stage but there is a steady demand for telematics devices. High import dependency, lack of advanced technology adoption, and infrastructure challenges have all been inhibitors. However, the rising demand for electric vehicles, ubiquitous 4G connectivity, favourable government policies, and schemes related to design and manufacturing, such as PLI and Make in India, will act as potential drivers for the demand for connected telematics devices for different mobility applications.”
To understand the future trajectory of India’s telematics space, Counterpoint Research analysts evaluated the top 15 players using the proprietary CORE analysis technique.
iTriangle leads the overall rankings for India’s telematics ecosystem, followed by Teltonika and Bosch. With the growing market demand, domestic players such as Blackbox, Rosmerta, Nippon, Accolade and Volty are expected to give strong competition to top players in the coming times.
iTriangle’s expertise in different aspects of manufacturing and ecosystem creation has pushed the company to initiate business in Thailand and other Southeast Asian markets. iTriangle is one of the few Indian companies to cross international borders in the telematics space.
