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Global Telematics Market to be Worth USD 233.24 Billion by 2022Netscribes, Inc., a global market intelligence firm, today released the Global Telematics Market Report. According to Netscribes, the global telematics market is expected to grow at a compound annual growth rate (CAGR) of 28.5 percent between 2017 and 2022 to reach a global revenue of USD 233.24 billion by 2022. An increased need to track vehicles in real time and monitor driver behavior, coupled with the rising demand for onboard infotainment is expected to drive the use of telematics technology. Although the telematics market is expected to have a positive growth globally, Netscribes points out that there is still a lack of awareness among car owners, resulting in a resistance towards bearing additional costs of installing new devices in old cars and vhicles. A large segment of vehicle owners is still aversive to Usage Based Insurance (UBI) companies over data privacy concerns. Some of the key highlights from the report are as follows:
For more information, download the Netscribes Global Telematics Market Report. Netscribes offers custom market research solutions based on specific business needs. To request for custom research contact [email protected]. About Netscribes Netscribes is a global market intelligence and content management firm with services across the research and information value chain. Netscribes provides tactical and actionable insights to its clients and enables effective decision-making and strategic implementation. For more information, visit www.netscribes.com.
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