The Global Telematics market is to grow at a CAGR of 22.67 percent CAGR percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing awareness of road safety. The Global Telematics market has also been witnessing increased adoption of the voice recognition feature in telematics systems. However, downward pricing pressure could pose a challenge to the growth of this market.
One of the main trends witnessed in the Global Telematics market is the increasing demand for automotive infotainment. Another trend being witnessed in the market is the increasing demand for automotive infotainment. The Global Automotive Infotainment market is growing at a significant rate, leading to the increasing demand for telematics. The increase in global vehicle production and increased usage of infotainment devices would play a vital role in the growth of the Global Telematics market. Infotainment devices are used for communication, entertainment, and navigation and this will further influence the demand for telematics devices, which will lead to increased market growth.
One of the main factors driving the market is the increasing sale of automobiles. Currently, the telematics technology is primarily used in the Americas and the countries of Western Europe. However, the technology is expected to witness growing popularity across all geographies in the coming years.
For more information on the Global telematics market, please click here: Global telematics market
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.