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08/17/2017
Telematics Market for Commercial Vehicles to Hit $18.4 Billion by 2022: Report
Source: Telematics Talk
The telematics market for commercial vehicles will grow from $7.3 billion in 2017 to $18.4 billion by 2022, a new research report predicts.
The promises of increased fleet safety and compliance will be the major catalysts for growth, according to the report.
Other factors include lower costs of sensors and connectivity; government mandates for tracking commercial vehicles; and increased adoption of telematics apps for smartphones.