Global Motor Racing Telematics (MRT) Market to Reach US$823.3 Million by 2030
The global market for Motor Racing Telematics (MRT) estimated at US$459.2 Million in the year 2023, is expected to reach US$823.3 Million by 2030, growing at a CAGR of 8.7% over the analysis period 2023-2030. M2M Application, one of the segments analyzed in the report, is expected to record a 9.2% CAGR and reach US$500.4 Million by the end of the analysis period. Growth in the IoT Application segment is estimated at 8.0% CAGR over the analysis period.
The U.S. Market is Estimated at US$134.4 Million While China is Forecast to Grow at 8.3% CAGR
The Motor Racing Telematics (MRT) market in the U.S. is estimated at US$134.4 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$145.1 Million by the year 2030 trailing a CAGR of 8.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 8.0% and 7.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.9% CAGR.
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