The global vehicle telematics market size was USD 97.62 Billion in 2021, and is expected to register a revenue CAGR of 26.2% during the forecast period. Increasing concerns regarding safety among vehicle users, increasing adoption of telematics in commercial fleets to improve their service, legislation pertaining to road safety and accidents, and rising demand of Next-Generation Telematics Protocol (NGTP) are some major factors expected to drive the market revenue growth. In addition, proliferation of smart devices such as smartphones and tablets is expected to support industry growth as well as drive revenue growth of the market.
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