Consumer Telematics Systems Market - Forecast(2021 - 2026)
Global consumer telematics is valued $16.6 billion in the year 2017 and is anticipated to grow with a CAGR of 26.54% from the year 2018 to 2023. Passenger vehicles is having the highest market share in the year 2017 and is followed by commercial vehicles. They are valued $7.4 billion and $5.7 billion in the year 2017 and is expected to grow with a CAGR of 25.42% and 28.02% during 2018 to 2023. What is Consumer Telematics Market? Telematics is a device used to transfer large amount of information from one vehicle to infrastructure of other vehicle. Telematics monitor the vehicle by GPS system which records and map the exact location of the vehicle which also gives the information on how fast the vehicle is travelling. Telematics can also help in providing information about the vehicle management like maintenance schedule, fuel monitoring and seat belt monitoring. Consumer telematics is segmented based on the fleet management system improve driver safety and increase the efficiency by pr...