Automotive Telematics Market Worth $45 Billion by 2019

According to a new report from MarketsandMarkets, the automotive telematics market will be work $45 billion by 2019.

By way of background, telematics is a system using which an electronic or mechanical device communicates with other devices or with individual users over a network.

The advantages to telematics in transportation are profound.

Telematics allows the fleet manager to obtain the real-time access of the vehicle.

Major factors driving the demand for automotive telematics market are strict safety norms, increased safety awareness, technological advancement, and affordability as well as institutions such as the United States New Car Assessment awarding safety ratings to cars based on safety performance.

In the coming years, increasing demand for vehicles equipped with telematics services in the countries of Asia-Oceania, mainly in China, India, South Korea, and Japan, is expected to drive the market.

It is anticipated that many developing countries will set up guidelines or regulations related to automotive telematics, the market for is projected to grow at a rapid pace in the next five years.

Category: Driver Stuff, Fleet Diagnostics & Software, General Update, Management