Global Commercial Vehicle Telematics Market, By Solution Type (OEM and Aftermarket), Application (Solutions and Services), End User (Transportation and Logistics, Insurance, Healthcare, Media & Entertainment, Vehicle Manufacturers/Dealers, and Government Agencies), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The commercial vehicle telematics market is expected to witness market growth at a rate of 14.82% in the forecast period of 2021 to 2028. Data Bridge Market Research report on commercial vehicle telematics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Telematics is a technique of observing the location and activity of the vehicle by connection of Global Positioning System (GPS) and on-boards diagnostics systems. With the help of the GPS and the diagnostics system, it is accessible to record the speed and internal movement of the vehicle. The global commercial telematics market is referred to the services and solutions that are approved for observing and controlling a commercial vehicle through a telecommunication device.
The government administrations for vehicle telematics and rise in the current trend of connectivity solutions are estimated to boost the growth of the commercial vehicle telematics market. Additionally, due to the telematics systems vehicle diagnose propels the growth of the commercial vehicle telematics market. Despite that, the increasing threat of data hacking, high installation pricing, privacy concerns, low awareness regarding telematics and the inaccessibility of constant and continuous connectivity are few of the factors that are hampering the growth of the commercial vehicle telematics market. Factors for example rising of safety and security administrations, growing of the disposable income, reducing prices of connectivity, and rise in the market penetration rate of smartphones, the rising need for connected cars, growing approval of telematics in the insurance industry and the growth of advancing countries are projected to propel the growth of the commercial vehicle telematics market. However, increase in the cyber threats because of increased data, below user approval in the developing economies could be one of the major challenges for the growth of the commercial vehicle telematics market. Nevertheless, the swift advancement of the logistics and transportation industries is estimated to propel the growth of the commercial vehicle telematics market throughout the forecast period. The commercial vehicle telematics market is estimated to observe a high growth in the near future. The growing numbers of road accidents is one of the main factors that are contributing to the growth of the market. Additionally, transition from vehicle ownership to MAAS, growing popularity of telematics based insurance and fleet management are the opportunities projected for the growth of the commercial vehicle telematics market. Also, the usage of smartphones and 4G technology is most likely to act as one of the main opportunities for the manufacturers.
This commercial vehicle telematics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on commercial vehicle telematics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Commercial Vehicle Telematics Market Scope and Market Size
The commercial vehicle telematics market is segmented on the basis of solution type, end user and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on solution type, the commercial vehicle telematics market is segmented into OEM and aftermarket.
- Based on application, the commercial vehicle telematics market is segmented into solutions and services. Solutions is further segmented into fleet tracking and monitoring, driver management, insurance telematics, safety and compliance, V2X solutions and others. Service is further segmented into professional services and managed services.
- Based on end user, the commercial vehicle telematics market is segmented into transportation and logistics, insurance, healthcare, media and entertainment, vehicle manufacturers or dealers, and government agencies.
Commercial Vehicle Telematics Market Country Level Analysis
The commercial vehicle telematics market is analysed and market size, volume information is provided by country, solution type, end user and application as referenced above.
The countries covered in the commercial vehicle telematics market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, China, Japan, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the commercial vehicle telematics market due to the growing consciousness amongst the users related to safety of the drivers and avoidance of accidents. Also, the suitable government policies and administrations for improvising road safety are expected to ascend the growth of the commercial vehicle telematics market in the region in the forecast period. North America is estimated to show noticeable amount of growth in the commercial vehicle telematics market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Commercial Vehicle Telematics Market Share Analysis
The commercial vehicle telematics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive vehicle scanner market.
The major players covered in the commercial vehicle telematics market report are MiX Telematics; Octo Group S.p.A; Omnitracs; Microlise Telematics Pvt. Ltd.; Inseego Corp.; PTC; Trimble Inc.; TomTom Telematics BV; Verizon. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.