European Automotive Telematics Market to Cross $37,249 8 Million Revenue by 2030: P&S Intelligence prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Share this article
Share this article
ResearchAndMarkets.com s offering.
The European automotive telematics market attained a value of $7,340.3 million in 2019 and is predicted to advance at a CAGR of 16.1% between 2020 and 2030. Furthermore, the market would generate a revenue of $37,249.8 million in 2030.
The burgeoning requirement for advanced safety features in automobiles and the increasing implementation of supportive government policies are the main factors fueling the expansion of the market.
The rising prevalence of road accidents is the biggest factor responsible for the increasing requirement for enhanced safety features and systems in vehicles. Human error is one of the leading causes of road crashes and casualties in Europe and the rest of the world. According to the Community database on Accidents on the Roads in Europe published in 2018, in the European Union (EU) member countries, 25,600 people lost their lives in road accidents in 2016.