Analyst Forecasts Telematics To Hit $7 Billion By '07
Staff -- TWICE, 9/17/2001
NEW YORK — A new study by automotive analysts Frost & Sullivan, says the OEM Telematics market in North America rose from $60 million in 1999 to $380 million in 2000.
The study, encompassing sales of hardware and service from GM's OnStar, Mercedes Benz and other automakers, and service providers such as ATX and Cross, projects that 2001 sales will reach $900 million. Frost & Sullivan forecasts that the market will continue to see double-digit growth, which will bring OEM telematics sales to $7 billion in 2007.
"So far, the telematics market has been characterized by the 'push' from automakers rather than the 'pull' from vehicle buyers," says Frost & Sullivan industry analyst Joerg Dittmer, who noted that the challenge to manufacturers is to extend the appeal of telematics to mainstream car buyers and beyond early adopters.
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