DUBLIN, April 7, 2020 /PRNewswire/ — The “Automotive Telematics Market Research Report: By Vehicle Type, System Type, Services, Communication Technology – Industry Size, Share, Development and Demand Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global automotive telematics market is expected to attain $149.9 billion in revenue in 2030. In 2019, the market was valued at $27.7 billion, and it is predicted to shootup massively during the forecast period (2020-2030), with a CAGR of 16.6%.
The major reasons behind this rapid rise of the market are the increasing demand for better safety features in vehicles, rising sale of connected vehicles, and growing implementation of supportive government measures and regulations.
The growing demand for enhanced safety features in vehicles that will lead to increased passenger safety and an efficient road traffic system is one of the major factors fueling the surge in the automotive telematics market