8/25/2014

Telematics Market to Reach $45 Billion by 2019

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Worldwide demand for automotive telematics systems and services will grow at an annualized 36% over the next five years to reach $45 billion in 2019, according to a new report from Dallas, Tex.-based Markets and Markets.

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Worldwide demand for automotive telematics systems and services will grow at an annualized 36% over the next five years to reach $45 billion in 2019, according to a new report from Dallas, Tex.-based Markets and Markets.

The $4,650 analysis predicts rapid growth in embedded vehicle connectivity systems in all developing and developed countries, led by China, India, Japan and South Korea.

The report also says sustained market growth will depend on upcoming legislation in such markets as Brazil, the European Union and Russia that aim to create standards and regulations for telematic systems.