Global Commercial Vehicle Telematics Market – Industry Trends and Forecast to 2030

Commercial Vehicle Telematics Market Analysis and Size

The global commercial vehicle telematics market is segmented on the basis of solution type, end user and application. The growth is attributed by various factors such as increasing demand for V2V, adoption of ADAS system across the commercial vehicle is propelling the market growth to an extent. Furthermore, 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.

Data Bridge Market Research analyses that the global commercial vehicle telematics market, which was USD 18,456 million in 2022, is expected to reach USD 36,543.12 million, and is expected to undergo a CAGR of 14.82% during the forecast period of 2023 to 2030. “OEM” dominates the solution type segment of the global commercial vehicle telematics market due to advances in parallel processing, data storage, and computer power. These advances have made it possible to develop more sophisticated AI software that can handle large amounts of data and make complex decisions. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Commercial Vehicle Telematics Market Scope and Segmentation

Market Definition

 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. In addition, 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.

Global Commercial Vehicle Telematics Market Dynamics

Drivers

• Advancement of V2V and V2I Communication Technology

The increasing production of V2V (vehicle to vehicle) and V2I (vehicle to infrastructure) in light commercial vehicles is helping to propel the connected truck market further. Telematics technology aids in the optimization of a variety of elements, including fuel usage, truck maintenance, and so on. Furthermore, the high adoption rate of modern technologies in the commercial vehicle industry, such as AI, machine learning, advanced driver assistance systems, and others, as well as the growing demand for autonomous trucks, are positively impacting the market's growth

• Growing Digitalization in Automotive Industry to boost the Market Growth

The automotive industry has seen significant digital change. The way things are done in the automobile industry has changed as a result of IoT and mobility integration. Modern automakers are integrating cutting-edge technology into their vehicles to provide passengers and drivers with the utmost comfort and individualized experiences. This has caused the development of car telematics systems to receive increased attention.

The telematics market can only grow if its ecosystem is well connected. A successful telematics program is built on the collaboration of numerous parties, including OEMs, cloud infrastructure providers, telecom operators, and fleet owners. It is financial potential for the transit signal priority (TSP) because there is an increasing emphasis on creating the ecosystem.

Opportunity

• Increasing  Partnership and Collaboration for Telematics Components

Manufactures across the region are collaborating with each other in order to develop various diagnostic systems in commercial vehicle. With the help of GPS and diagnostics system, it is possible to record the speed and internal behavior of the vehicle. Telematics systems are majorly adopted by the automobile insurance companies, fleet management companies, and others to monitor the location and behavior of the vehicle.

Restraints/Challenges

• Data Privacy and Security Concerns

There are concerns about the privacy and security of data used in AI-commercial vehicle telematics. Businesses need to be careful about how they collect and use customer data, and they need to ensure that the data is secure.

• Lack of Skilled Professionals

There is a shortage of skilled professionals who can develop and implement telematics in vehicle. This is a major challenge for businesses that want to adopt AI in their marketing strategies.

This global commercial vehicle telematics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized 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 the variable frequency drive market contact the Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Developments

• In September 2022, Cambridge Mobile Telematics launched Drivewell Cash & Claim an highly efficient solution for vehicle insurance
• In February 2022, NEXCOM had introduced NEXCOM VTC 1021 in vehicle computer fore regular vehicle telematics

Global Commercial Vehicle Telematics Market Scope

The global commercial vehicle telematics market is segmented is segmented on the basis of solution type, end user and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Solution Type

• OEM
• Aftermarket

Application

• Solution
• Fleet tracking and monitoring
• Driver management
•  Insurance telematics
•  Safety and compliance
• V2X solutions
•  Others
• Services
• Professional
• Managed

Technology

• Transportation and Logistics
• Insurance
• Healthcare
• Media and Entertainment
• Vehicle Manufacturers or Dealers
• Government Agencies

Global Commercial Vehicle Telematics Market Region Analysis/Insights

The global commercial vehicle telematics is analysed and market size insights and trends are provided by region, on the basis of solution type, end user and application, as referenced above.

The countries covered in the  electric vehicle marketmarket report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, 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), Brazil, Argentina and Rest of South America as part of South America

North America dominates the global commercial vehicle telematics because North America is home to some of the world's leading research universities and research institutions, which are constantly developing new AI-powered marketing technologies. For example, Stanford University's Human-Centred Artificial Intelligence Institute is working on developing AI-powered tools that can help marketers understand and target their customers more effectively.

Asia-Pacific is expected to be the fastest-growing region in the global commercial vehicle telematics market due to businesses in Asia-Pacific are increasingly adopting AI to improve their marketing performance. This is being driven by the region's large and growing market, as well as the increasing availability of AI-powered marketing solutions.

The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream 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 the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.

Competitive Landscape and Global Commercial Vehicle Telematics Market Share Analysis

The global commercial vehicle telematics market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global artificial intelligence in marketing market.

Some of the major players operating in the global commercial vehicle telematics market are:

• MiX Telematics (U.S.)
•  Octo Group S.p.A (Spain)
•  Omnitracs (U.S.)
•  Microlise Telematics Pvt  Ltd (India)
•  Inseego Corp. (India) Trimble Inc., (U.S.)
•  TomTom Telematics BV (Germany)
• Verizon (U.S.)

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