Global Telematics Market to Reach USD 233.2 Billion in 2022 Growing at 28.5% CAGR During 2017-2022

Raipur, April 19, 2018 -- Report Sellers has added a new market research report on “Global Telematics Market (2014-2022)” to its offerings. The report is an in-depth market study providing accurate market insights including the latest trends, forecast, competitive insights, etc.

Telematics technology is being increasingly used in the automotive segment for vehicle tracking and monitoring, infotainment and Usage Based Insurance (UBI). In the Healthcare sector, it is utilized to expedite diagnosis and augment treatment quality and processes. Similarly, the Government sector employs telematics technology for developing smarter cities and maintenance. The global Telematics market is expected to grow at a CAGR of 28.5% (2017-2022) leading to global revenue of USD 233.24 billion by 2022. 

Browse through the complete description and in-depth TOC on “Global Telematics Market”

https://www.reportsellers.com/market-research-report/Telematics-Market-2014-2022

Key growth factors

Increasing requirement to track vehicles on a real-time basis and observe drivers behavior (monitoring health and temperament while driving), coupled with rising demand for onboard infotainment is leading to growing usage of telematics technology.
Additionally, the requirement of vehicle owners to avail tailor-made auto insurance premiums and that of insurers to accurately evaluate accidental damages and minimize fraud, through analysis of driving data, is contributing to the rising adoption of telematics-based insurance or UBI.

Threats and key players

Often, challenging economic conditions, low internet penetration and poor technology infrastructure in some regions play a major role in restricting telematics penetration. Case in point, most African countries which face various infrastructural and economic challenges. Some of the major players in the telematics market are OCTO Telematics, AirIQ, Mix Telematics, TomTom, Airbiquity Inc., Cisco, GE Healthcare, and Philips Healthcare.

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