The global commercial telematics market is expected to grow at USD ~42 Billion by 2023, at ~18% of CAGR between 2017 and 2023.
Market Research Future published a research report on “Commercial Telematics Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis of Global Commercial Telematics Market:
The companies such as Verizon Communications, Inc. (U.S.), Harman International Industries, Inc.
(U.S.), TomTom Telematics BV (Netherlands), Vodafone Group Plc (U.K), Bayerische Motoren Werke AG (Germany), are the leading provider of commercial telematics solutions. In August, 2014, Vodafone Group Plc.
has acquired Cobra Automotive Technologies S.p.A to provide full range of value-added security, telematics services and managed M2M connectivity to the automotive and insurance industry.
The commercial telematics are widely used in industries for transmitting the real time information to the devices. The increasing number of subscribers and companies are showing a higher level of penetration in commercial telematics market.
It is widely used in automotive industries which will show a rapid growth by the end of the forecasted period. In North America, it is estimated that approximately 35% of all commercial and government vehicles are equipped with telematics.
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The global commercial telematics market is bifurcated on the basis of type, solutions, end- users and region. The type is segmented into vehicle telematics, fleet telematics, insurance telematics and others.
The solutions is segmented on the basis of remote alarm & monitoring, navigation and location based, infotainment, V2v and V2i, tele-health and others. The end-users is segmented into government agencies, media & entertainment, transportation and logistics, insurance, healthcare and others.
The region includes North America, Europe, Asia Pacific and rest of the world.
The regional analysis of commercial telematics market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading region across the world in terms of market share in commercial telematics market as self-install on-board diagnostics devices are capturing maximum market in North America.
The commercial telematics market in Europe region is expected to witness rapid growth in the forthcoming period. The commercial telematics in insurance industry are largely dominated by hardwired aftermarket black boxes and has huge demand in the market.
Whereas, Asia-Pacific countries like China, Japan and South Korea is an emerging market for commercial telematics market and expected to be the highest CAGR in the coming year.
- Verizon Communications, Inc.(U.S.)
- Harman International Industries, Inc.( U.S.)
- TomTom Telematics BV (Netherlands)
- AT&T Inc. (U.S.)
- Vodafone Group Plc (U.K)
- Ford Motor Company (U.S.)
- Bayerische Motoren Werke AG (Germany)
- Trimble Inc. (US)
- Telefónica S.A. (Spain)
- Mix Telematics International Ltd (South Africa)
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The global commercial telematics market has been segmented on the basis of type, operation system, ruggedness, end- users and region.
Global Commercial Telematics Market by Type:
- Vehicle Telematics
- Fleet telematics
- Insurance Telematics
Global Commercial Telematics Market by Solutions:
- Remote Alarm & Monitoring
- Navigation and location based
- V2v and V2i
Global Commercial Telematics Market by End- Users:
- Media & Entertainment
- Government agencies
- Transportation and Logistics
- Global Commercial Telematics Market by Regions:
- North America
- Rest of the World
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