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 growth of the global telematics market is being driven due to several factors, including government initiatives to include advanced technology in public safety on roads, increasing demand for premium passenger cars and growing demand for connectivity in vehicles. The use of telematics has been constantly increasing in insurance sector for tracking the driving conditions to calculate precise vehicle insurance premium. North America dominated the global market; however Asia-Pacific is estimated to grow at the highest pace during the forecast period. The high cost of telematics equipment and hacking threats are the key restraints in the global market. The poor internet infrastructure in the developing countries is also hindering the adoption of telematics.
Full Report is available at: https://www.psmarketresearch.com/market-analysis/global-telematics-market
The information and data in the publication “Global Telematics Market Size, Share, Development, Growth and Demand Forecast to 2022” represent the research and analysis of data from various primary and secondary sources. A bottom-up approach has been used to calculate the global telematics market by solution, application, end-user and distribution channel. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
The research offers the market size and market forecast of the global telematics market for the period 2012 to 2022. The market breakdown is as follows:
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GLOBAL TELEMATICS MARKET
- By Sector
- Commercial
- Consumer
- By Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World
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