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News Release from: Venture Development Corp
Edited by the Electronicstalk Editorial
Team on 06 March 2006
Telematics growth set to continue
Recent research estimates that telematics and communication devices will continue to grow explosively through 2007 and beyond.
Recent research by Venture Development Corporation (VDC) estimates that telematics and communication devices will continue to grow explosively through 2007 and beyond Telematics devices - location-based communication and information applications (ie information is customised to where you are and what your car is doing, providing enhanced security, safety, navigation and convenience to the mobile user) - are expanding at a compound annual growth rate (CAGR) of 13.7% and will reach over $1.2 billion by 2007
This article was originally published on Electronicstalk on 17 Dec 2004 at 8.00am (UK)
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The growth in telematics is being driven by a number of trends.
First, increased volume and subsidies from OEMs have led to a decline in hardware costs, making telematics more affordable for consumers and OEMs.
Secondly, the North American market was initially slow to adopt navigation and other telematics related technology.
However, the OEM penetration rate is fostering awareness and as a corollary, demand.
Thirdly, embedded technology applications pervade the modern automobile.
These applications and functions work through a network, which uses telematics as the platform to bring various technologies together.
The following five core areas are applying the technology, contributing to this growth: information services; safety monitoring; vehicle diagnostics; communications; and entertainment.
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