What is the Global Telematics market Size?
Every day people need to travel from an area to another area by means of different facilities such as buses, cars, and other public transportation system. Also transportation of goods from one place to another place is also important and essential to supply different products, raw materials and other essentials for human survival. To make transportation of all kinds safe and secure, Telematics offers technology to communicate within the vehicles. A telematics system contains hardware and software that specially designed to communicate between trucks as well as surroundings. These advanced telematics devices or equipment in trucks is gaining popularity eventually over the past few years.
By the year 2022, it is estimated to reach USD 233.24 Billion at growing CAGR of 28.5%.
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Factors Driving the Growth of Global Telematics market:
Global Telematics market is estimated to grow in forecasted period owing to supporting factors such as increasing concern over safety and connectivity, need for high-speed internet connection, technological advancements in smartphone in terms of hardware as well as software, increasing adaption of advanced telematics among truck drivers as well as transportation industries, need for communication between two ends, flexible and decreasing prices of related equipment and others.
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Based on geography,y the Global Telematics market primarily segmented into Europe, North America, Latin America, Middle East & Africa, and North America. North America region is dominating the Global Telematics Market due to the increasing adoption of such devices in the region. Europe region is trailing right behind North America region in terms of market share. In addition, Asia Pacific region is also predicted to witness significant growth of the market in forecasted years owing to factors such as increased security and safety concern, and acceptance of the technology in transportation field.
Some of the leading companies in the Global Telematics market:
The major industries competing in Global Telematics market include AT&T Inc., Airbiquity Inc., Continental AG, Corporate Summary, Corporate Summary, Delphi Automotive PLC, HARMAN International, Intel Corporation, Magneti Marelli S.p.A, Mix Telematics Ltd., Octo Telematics Ltd., Qualcomm Inc., Robert Bosch GmbHot hrype, Teletrac Navman, Tom-Tom NV., Trimble Inc., Verizon Communications, Inc.,and Wireless Car AB.
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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