Telematics Market Analysis by P&S Market Research
The global telematics market is expected to grow from an estimated $26,314.4 million in 2015, and reach $140,100 million by 2022, growing at a CAGR of 28.5% during 2016 – 2022.
The global telematics market is expected to grow from an estimated $26,314.4 million in 2015, and reach $140,100 million by 2022, growing at a CAGR of 28.5% during 2016 – 2022.
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Global <strong>Telematics</strong> <strong>Market</strong> Expected to Grow at 28.5% CAGR During 2016 – 2022<br />
The global telematics market is expected to grow from an estimated $26,314.4 million in 2015, and reach<br />
$140,100 million <strong>by</strong> 2022, growing at a CAGR of 28.5% during 2016 – 2022. The growth of the global telematics<br />
market is being driven due to several factors, including government initiatives to include advanced technology in<br />
public safety on roads, increasing demand for premium passenger cars and growing demand for connectivity in<br />
vehicles. The use of telematics has been constantly increasing in insurance sector for tracking the driving<br />
conditions to calculate precise vehicle insurance premium. North America dominated the global market; however<br />
Asia-Pacific is estimated to grow at the highest pace during the forecast period. The high cost of telematics<br />
equipment and hacking threats are the key restraints in the global market. The poor internet infrastructure in the<br />
developing countries is also hindering the adoption of telematics.<br />
Explore Report with Detailed TOC at: https://www.psmarketresearch.com/marketanalysis/global-telematics-market<br />
The information and data in the publication “Global <strong>Telematics</strong> <strong>Market</strong> Size, Share, Development, Growth and<br />
Demand Forecast to 2022” represent the research and analysis of data from various primary and secondary<br />
sources. A bottom-up approach has been used to calculate the global telematics market <strong>by</strong> solution, application,<br />
end-user and distribution channel. P&S <strong>Market</strong> <strong>Research</strong> analysts and consultants interact with leading<br />
companies of the concerned domain to substantiate every value of data presented in this report. The company<br />
bases its primary research on discussions with prominent professionals and analysts in the industry, which is<br />
followed <strong>by</strong> informed and detailed, online and offline research.<br />
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With the advancement in technology, the demand for connectivity is increasing everywhere. Vehicle telematics,<br />
trailer tracking, and container tracking are the common application areas of telematics. They are used to<br />
transform automobiles into communication objects. Earlier telematics were integrated only on premium vehicles;<br />
now it’s either offered as standard feature on select vehicles, or as an option for the low-priced vehicles. It also<br />
enables patient’s health tracking while travelling.<br />
Browse Related <strong>Research</strong> at: https://www.psmarketresearch.com/industry-report/automotiveand-transportation<br />
In order to assure vehicular safety, the government in several countries has been promoting the use of telematics<br />
in vehicles. For instance, eCall project promoted <strong>by</strong> European Commission (EC) was adopted in Europe in 2013.<br />
eCall is targeted to provide assistance to motorists, who have met with road accident and are unable to speak<br />
due to injuries. It is applicable for the vehicles in which telematics is installed. The government of China rolled out<br />
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