GLOBAL CONSUMER TELMATICS MARKET - TRENDS
With the rising demand for ubiquitous connectivity by the customer, Consumer Telematics
throws up a wide range of opportunities for the various participants in this field to gain a strong
foot-hold over the market. Since the time GPS navigation services were made open to public
use, consumer telematics has come a long way and developed into a multi-billion dollar market.
Some of the key market trends seen over the years are
Major share of revenues in the market are attributed to GPS navigation systems, Fleet
Management and Infotainment.
Since the early 2000s when the consumer telematics markets started off in a nascent
stage, the cost of the equipments have come down drastically, thereby increasing the
demand for telematics.
The trend of only high-end vehicles employing telematics is on the decline with other
mass production models of cars also are coming equipped with basic telematics system.
Though the U.S. is still the major market, other developing countries like China which
produces the highset number of passenger vehicles in the world are rapidly gaining
ground in the telematics market.
The Usage-based-Insurance(UBI) concept is fast catching up in Europe(especially
Western Europe) and could become a major contributor to the overall telematics
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