Global Commercial Vehicle Telematics Market By Type (OEM, Aftermarket), Application (Solutions, Services), End- User (Transportation and Logistics, Insurance, Healthcare, Media &Entertainment, Vehicle Manufacturer, Government Agencies), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Commercial Vehicle Telematics Market
Global Commercial Vehicle Telematics Market is expected to rise from its initial estimated value of USD 8.80 billion in 2018 to an estimated value of USD 39.07 billion by 2026, registering a CAGR of 20.47% in the forecast period of 2019-2026. Increase in the demand for the sensors is the major factor for the growth of this market.
Market Definition: Global Commercial Vehicle Telematics Market
Telematics is the combination of global positioning system and in- board diagnostics system which is used to monitor the location and movement of a vehicle. It has capabilities like traffic updates, smart routing and tracking, road assistance etc. It also records the speed and internal behaviour of the vehicle. They are usually used by the fleet management companies which they used to exchange information between the commercial vehicle fleet and central authority.
- Increasing demand for fleet management services and government initiatives for deployment of vehicle tracking
- There is increase in the adoption of the telematics in business
- Concerns related to security and safety is the major factor restraining its growth.
Segmentation: Global Commercial Vehicle Telematics Market
- By Type
- By Application
- By End- User
- Transportation and Logistics
- Media &Entertainment
- Vehicle Manufacturer
- Government Agencies
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In December 2018, MiX Telematics launched their MiX Now which is a simple and self- service fleet software. Mix Now will send useful reminders and alerts and how vehicles are used to the business owners or managers.
- In August 2017, ERM Advanced Telematics announce the launch of the StarLink Tracker. It has Wi-Fi which will help in the vehicle tracking, will monitor driver behaviour. They are designed for the installation in both production line and in aftermarket.
Global commercial vehicle telematics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of commercial vehicle telematics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the commercial vehicle telematics market are PTC, Trimble Inc., Tomtom Telematics BV, Verizon, Mix Telematics, Zonar Systems, Octo Group S.p.A., Omnitracs, Mastenaut Limited, Microlise Telematics Pvt. Ltd, Inseego Corp., Trimble Inc., Volkswagen Commercial Vehicles, HARMAN International, AT&T.
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved