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The global telematics market is projected to witness a high growth in the coming years on account of the growing demand for connectivity in vehicles, premium passenger cars, and public safety on roads. In addition to this, governments across the globe are taking initiatives to include the latest and advanced form of technology for public safety on roads, which is further driving the demand for telematics. Moreover, telematics is being increasingly used by insurance sectors to track driving conditions so as to calculate the accurate insurance premium of the vehicle.

On the other hand, factors deterring their adoption include poor internet infrastructure in developing nations and high cost of telematics equipment. The risk of hacking is another threat facing the market.While North America is leading in the global telematics market, Asia Pacific is estimated to make a remarkable progress in the industry and expand at a fast pace in terms of CAGR. Leading vendors in the market include BMW Group, TomTom International BV, MiX Telematics, AT&T, Ford Motor Company, and Telefonica SA.