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Global Telematics Market Worth $52B by 2012 |
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Written by Chelsey Drysdale
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Wednesday, 17 October 2007 |
WELLESLEY, MA – The world market for mobile telematics was worth some $37.5 billion in 2006, a figure expected to reach $52 billion in 2012, a CAGR of 3.5% over the next five years, according to BCC Research.
The market includes applications of automotive, intelligent transportation systems (road installations and operations centers), aircraft, railroads, construction, agriculture and maritime technologies. Of these sectors, automotive accounts for the largest share of the market and is expected to reach more than $48 billion in 2012, at a 3.6% CAGR, says BCC. Growth in automotive telematics will be driven by government-mandated use of safety equipment.
Intelligent transport systems (road installations) currently have the second largest share of the market at $649 million, projected to reach more than $1.8 billion by 2012, a CAGR of 17.9%, according to BCC. However, intelligent transport systems (operations centers), now worth $375 million, will be worth $2 billion by 2012, a CAGR of 31.7%. The increasing sale of public roadways to private owners will speed the introduction of intelligent transport systems, with a corresponding rise in the need for mobile telematics components.
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