Global Automotive Telematics Market (2016-2022)”, the worldwide market is anticipated to realize a market measurement of $124.3 billion by 2022, rising at a CAGR of 26.6% throughout the forecast interval.
Advent of good telephones has modified the definition of connectivity. People now count on to remain linked to web 24*7. Automobile producers strongly imagine that offering connectivity options of their autos will increase their vehicle gross sales. Automotive business goes by a part of digital revolution. In the subsequent few years to come back, cars will rework into communication units. New hi-tech units, good telephones, high-speed web, quite a few functions & open sources equivalent to android techniques have reworked the idea of linked autos.
The main components driving the telematics market are security and safety issues, 24*7 connectivity, superior driving options, on-line car diagnostics & upkeep alerts, superior connectivity options and others. On the opposite hand, a few of the restraints related to telematics market are the extra bills borne by the patron for availing the telematics companies, risk of hackers breaching the safety and accessing knowledge or inflicting nuisance to the car system, non-availability of uninterrupted & seamless connectivity and lack of knowledge amongst shoppers in sure areas.