What is Digital Tachograph System?
Digital Tachograph System is comprised of a device which is installed in vehicles to record the speed, distance and driver activity. The digital tachograph system comprises of the motion sensors, digital tachograph software, tachograph smartcards, a tachograph head unit as well as sending unit. The installation of the digital tachograph system leads to better driver security and lesser accidents. It also allows transportation companies to better monitor the driver performance which includes both their driving team and resting time. Currently, European Union is the only place which has strict laws making it mandatory for large commercial vehicles to adopt digital tachograph system. Europe is the biggest market of the digital tachograph system followed by North America.
The market study is broken down, by Application (Passenger Vehicles and Commercial Vehicles) and major geographies with country level break-up.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Thales Group (France), Siemens AG (Germany), Continental AG (Germany), Novadata Tachograph Analysis Bureau Ltd. (United Kingdom), Transics International NV (Belgium), Vontier Corporation (United States), Stoneridge, Inc. (United States), Kusam Electrical Industries Ltd. (India), Lutron Electronics Co., Inc. (United States) and Shanghai Tachometer (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are SRI Electronics (India), LOR Manufacturing Company, Inc. (United States) and Descartes Systems Group Inc. (Canada).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Digital Tachograph System market by Type, Application and Region.
On the basis of geography, the market of Digital Tachograph System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Global Navigation Satellite System will boost the Digital Tachograph System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Motion Sensor will boost the Digital Tachograph System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2019, Geotab Inc., a Canada based global leader in connected transportation technological solutions and IOT solutions has announced completion of acquisition of Intendia, which is a Spanish engineering company specialised in manufacturing of devices to read CAN bus data and integrate digital tachograph. The acquisition will expand both Geotab’s product portfolio as well as its geographical presence in Europe.
In 2019, Verizon Connect, a subsidiary of Verizon Communications and developer of fleet management software and transport related digital solutions has announced launch of its new digital tachograph tool which aids the transport fleet managers to track the driving times and rest times of the corresponding drivers.
As per the EU-regulation (EC) No 561/2006 and regulation 1360/2002, which came into complete force in 2007, making it mandatory to install digital tachographs in transport vehicles which carry goods of masses above 3,5 tonnes or carrying more than 9 persons including the driver of the vehicle.
Market Trend
- Currently, Commercial Vehicles Accounts for Higher Share in Digital Tachograph System Market
Market Drivers
- Enhanced Focus on Driver Safety
- Advancement in Automotive Technology
Opportunities
- Asia Pacific Region Presents Huge Opportunity to Grow because of Presence of Large Automobile Market and Rising Disposable Income in the Region
Restraints
- Expensive than Regular Traditional Tachometer
Challenges
- Laws Less Stringent towards Adoption of Digital Tachometer outside Europe and North America
Key Target Audience
Digital Tachograph System Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.