Tag: Growing

Growing Implementation of Supportive Government Measures & Regulations

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

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The Growing Internet of Vehicle Market

The Internet of Vehicle (IoV) market, valued at $66,075 million in 2017, is forecasted to reach $208,107 million by 2024. The reason for this growth can be attributed to rising demands, improvements, and vast upgrades in the automotive industry, the increase in connected devices, and the introduction of Logistics 4.0. Here is the growing internet of the vehicle market.

IoV is somewhat synonymous with the automation of vehicles or implementing IoT technologies in vehicles.

The IoV ultimately allows vehicles to communicate with drivers, other vehicles, management systems, pedestrians, and infrastructure, all in real-time. The improved safety factors related to both drivers and pedestrians that stem from this technology is another reason for its popularity.

The IoV technology can be broken down by the communication channels.

The vehicle can communicate with itself first (intra-vehicle), which results in an internal performance review. The vehicle can also communicate with other vehicles (vehicle-to-vehicle) through

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