What is Commercial Telematics Market?
Government regulations of vehicles telematics will lead to driving global commercial telematics market. It is technology that links computers and telecom services and permits the transfer of large amounts of information in vehicles in real-time. Telematics is a procedure of monitoring the location as well as a movement of the vehicle by a combination of Global Positioning System (GPS) and onboard diagnostics systems. The commercial telematics is extensively used in industries for transmitting real-time information to the devices. This technique is majorly adopted by fleet management companies, automobile insurance companies, and others to monitor the location and behavior of the vehicle. The telematics products used by a light, medium, and heavy commercial automobiles are the vital components of the global commercial telematics market.
Highlights from Commercial Telematics Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Cartrack (South Africa), Daimler Fleetboard GmbH (Germany), Ashok Leyland (Hinduja Group) (India), Verizon Communications, Inc. (United States), Fleet Complete (Canada), Geotab Inc. (Canada), Microlise (United Kingdom), Mix Telematics (South Africa), Navistar Inc. (United States), Omnitracs (United States), TomTom Telematics BV (Netherlands) and Trimble Inc. (United States) |
CAGR | 15.9% |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Commercial Telematics market throughout the forecasted period.
Cartrack (South Africa), Daimler Fleetboard GmbH (Germany), Ashok Leyland (Hinduja Group) (India), Verizon Communications, Inc. (United States), Fleet Complete (Canada), Geotab Inc. (Canada), Microlise (United Kingdom), Mix Telematics (South Africa), Navistar Inc. (United States), Omnitracs (United States), TomTom Telematics BV (Netherlands) and Trimble Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Zonar Systems (United States), Masternaut Limited (United States) and Fleetcor (United States). Commercial Telematics Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Fleet Management, Driver Management, Insurance Telematics, Remote Alarm and Monitoring, Fuel Management, Safety Management, Vehicle Maintenance and Others |
Type | OEM Telematics (Embedded OEM Systems, Hybrid OEM Systems) and Aftermarket Telematics (Embedded, Portable) |
Components | Hardware,Software |
End User | Transportation and Logistics,Construction,Government and Defense,Agricultural,Manufacturing,Retail & E-commerce,Others |
Connectivity Technology | Cellular Network,Wi-Fi,Bluetooth,Others |
On the basis of geography, the market of Commercial Telematics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Spain, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Government Mandates Pertaining To the Installation of GPS Trackers and Satellite Navigation and High Demand Of Connected Vehicles Solutions
Market Growth Drivers:
Rising Demand Due To High-Speed Web Technologies and Up Surging Demand in Transportation and Logistics Industry
Challenges:
Unavailability of Uninterrupted & Seamless Connectivity
Restraints:
Rising Threat of Data Hacking and High Installation Cost
Opportunities:
Increasing Penetration in Healthcare As well as Insurance
Key Target Audience
Commercial telematics manufacturing companies, Automotive Original Equipment Manufacturers, Information technology companies, Investors and Venture Capitalists, Commercial telematics providers, Industry Associations, Government Regularity Bodies, Private and Government research Organizations and Others
Market Leaders & Development Strategies
14th February 2019, Daimler Fleetboard GmbH has acquired habbl logistics application for expansion of its transport management services.
On 21st February 2019, Omnitracs LLC has upgraded its cloud-based fleet management platform, Omnitracs One, under a new partnership with Red Hat to accelerate the development of new capabilities enabled by technology from the open-source specialist