Telematics Market to Reach $39.15 Billion by 2019
Commercial telematics is expected to represent a market in excess of $39 billion by 2019 according to new research just released.
The stars all seemed aligned for the escalation, as noted in the report by MarketsandMarkets, which authored the report.
The industry is gaining momentum due to the growing consumer awareness about safety, increase in usage of electrical vehicles, strict government regulations, and new innovations in connectivity technologies.
Now, the use of telematics has reached a variety of other applications such as remote diagnostics, predictive maintenance of vehicles and heavy equipments, health monitoring, and remote medicine administration.
These devices enable real-time control and monitoring to take preventive actions in case of any anomalies. The capability to provide real-time analytics and fulfill demand-based load generation makes these devices unique and beneficial.
Telematics systems are broadly classified by two vendor segments: OEMs and aftermarket solution providers.
Category: General Update
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