Research On Global Markets
Syndicated Market Research Report
Telematics has transformed into an automotive mainstream. All cars will have some level of embedded telematics, and its benefits for both the manufacturers and consumers is compelling. Automotive telematics can observe and improve driver behaviour and temperament while driving, increase road safety at a real-time basis, boost car- insurance industry profitability and align insurance premiums with actual need. According to a global automotive telematics market research conducted by Research on Global Markets, the global automotive telematics market is thus expected to expand at a compound annual growth rate (CAGR) of 28.5% during the 2017-2022 periods, to reach approximately USD 198.7 Bn by 2022. Telematics can bring additional benefits to individuals, corporations, and governments beyond insurance and road-safety improvements for example real time tracking, stolen vehicle recovery, vehicle finder services, fuel and routing optimization. Most users cite antitheft, lower insurance premiums, and improved driving behaviour as key benefits of telematics today. Today, users have several options in telematics to install in their vehicles. They range from professionally installed services to do it yourself add on devices. Automobile manufacturers may offer built-in telematics devices and customized services to differentiate their offerings from other manufacturers. Some Key Types of Telematics Devices Are:
To ensure interoperability across the many platforms and telematics devices that currently or will soon offer telematics access, stakeholders such as manufacturers, insurers and technology and services providers need to establish and adhere to standards. Electronic systems should meet backup-battery performance requirements as well as power-management and protection standards.
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