Global Vehicle Telematics market will reach 104.10 billion US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/8

The global vehicle telematics market will witness significant growth due to the growing security and safety concerns about vehicles amongst users. Rising use of tablets and smartphones that are enabled with GPS units are also driving the market in top gear. The demand for vehicle telematics is growing because of the safety and the security of the passenger, car, and driver. The market is estimated to capitalize the growth by installing original equipment manufacturer (OEM) solutions for developing smart cars, which uses the telematics to provide better results. Stringent government regulations favoring the use of vehicle telematics will further create a positive impact on the growth of the market during the forecast period.

However, the high cost of investment for the installation of telematics in vehicles will hamper the growth of the market over the forecast period.

The report states that the global vehicle telematics market is expected to touch the valuation of US$104.10 bn by the end of 2025 from US$39.64 bn in the year 2018. The market is likely to register a healthy CAGR of 14.71% throughout the forecast period.

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https://www.qyresearch.com/index/detail/1173985/global-vehicle-telematics-market
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