For one, the cost of such devices will be high in most parts of the world where you get charged on a per MB basis for Internet access. Thus any use outside of a local area network will become very expensive very quick.
Second is the privacy issues and concerns with having cars and portable devices being monitored in real time. Yes, they can be used to combat car theft and the like, but why should anyone but me know where I go shopping or visiting? And when I loand the car out, this tracking could have adverse results for my insurance if used by insurance companies in the way you mention.
Three is the bandwidth and IP addresses for the damn things, we already have enough IP address issues due to there not being enough. Add a few billion devices with their won IP address and all hell breaks loose.
Need to look at the whole picture before jumping on the band wagon.
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