Telematic Components: Technologies and Global Markets
In 2010, BCC projects that total global market value of telematics components will increase to $12.9 billion. In 2011, global net market value will increase to $15.6 billion. Given a compound annual growth rate (CAGR) of nearly 21%, net market value will increase to $40.3 billion by 2016.
The hardware and services segments will each grow at a 31.7% compound annual growth rate (CAGR). Services have a greater market value, worth an estimated $5 billion in 2011 and nearly $20 billion in 2016.
Beginning in 2010, government mandates in Europe and Brazil will begin to drive the hardware market, as regulators will require that vehicles be equipped to contact emergency services in the event of an incident. This sector will be worth $2.6 billion in 2011 and is expected to reach $10.3 billion by 2016.
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The worldwide market for telematics in 2003 was estimated at $5.6 billion.
By 2008, revenues are projected to increase at an average annual growth rate (AAGR) of 2.8% to $6.5 billion.
Revenues from hardware sales for consumer vehicles in 2003 were $3.0 billion. This to decrease at an AAGR of -1.7% to $2.7 billion in 2008. Asteep decline is expected in hardware prices that will limit growth.
Revenues from consumer monthly fees will rise from $164 million in 2003 to $454 million in 2008, an AAGR of 22.7%.