Air Sea Logistics & Automotive Transportation News

Commercial vehicle telematics market will increase 18.43 billion USD by 2022 published by leading research firm

Automotive and Transportation Market Research

Commercial vehicle telematics market categorizes the global market by solution as fleet tracking and monitoring, driver management, insurance telematics, safety and compliance, and V2X solutions, by service, by provider type, by vertical, and by region.

- Advertising -

The report "Commercial Vehicle Telematics Market  by Solution (Fleet Tracking and Monitoring, Driver Management, Insurance Telematics, Safety and Compliance, and V2X Solutions), Service, Provider Type, Vertical, and Region - Global Forecast to 2022", The commercial vehicle telematics market size is expected to grow from USD 7.31 Billion in 2017 to USD 18.43 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.3%.

The major driver of the commercial vehicle telematics market is the increasing adoption for the Next-Generation Telematics Protocol (NGTP) enhancing telematics service delivery, proliferation of telematics technology due to decreasing sensor and connectivity cost, growing government mandate for deploying vehicle tracking in commercial vehicles, and rising demand for smartphones supplements the adoption of telematics solutions and services.

PDF Sample Brochure

Safety and compliance solutions are expected to grow at the fastest rate in the commercial vehicle telematics market during the forecast period.

Safety and compliance solutions are expected to drive the market growth since the safety and security aspect has been one of the initial functionalities of the commercial vehicle telematics.

- Advertising -

Solution providers offer solutions which integrate the compliance aspect into solutions to facilitate speed control, timeline reporting, laws and regulation control and others to incorporate government mandates and regulations of commercial vehicle telematics technology.

Professional services segment is expected to have the largest market share during the forecast period.

The professional services segment is expected to have the largest market share during the forecast period owing to the increased deployment of smart solutions which requires technological consulting, and continuous support and maintenance activities. Moreover, government bodies normally prefer professional services vendors over managed services vendors to keep a tight control over the business operations, such as deployment and support and maintenance.

Access report

North America is expected to hold the largest market share in the commercial vehicle telematics market during the forecast period.

As per the geographic analysis, North America is estimated to hold the largest market share during the forecast period. This is due to the major market share is early adoption of telematics technology for commercial vehicle in the region.

North America constitutes of developed economies such as US and Canada. These countries are significantly advanced in terms of technology and its application deployments.

The commercial automobile industry in US is more than a decade old. Moreover, government regulations, policies and mandates for the different application of commercial vehicle telematics is expected to drive the market growth in North America.

The major vendors covered in the commercial vehicle telematics market include PTC, Inc. (US), Trimble Inc. (US), TomTom Telematics BV (Netherlands), Verizon Telematics, Inc.

(US), MiX Telematics International (Pty) Ltd (South Africa), Zonar Systems, Inc. (US), Octo Telematics Ltd. (UK), Omnitracs, LLC (US), Masternaut Limited (UK), Microlise Limited (UK), Inseego Corporation (US), and Volkwagen Commercial Vehicles (UK).

News From

MarketsandMarkets™ - Business ResearchMarketsandMarkets™
Category: Market Research Publishers and RetailersCompany about: MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth ...
This email address is being protected from spambots. You need JavaScript enabled to view it.