Commercial Telematics Market, By End User (Transportation & Logistics, Media & Entertainment, Vehicle Manufacturer, Insurance, Healthcare, Dealers and Government Agencies), By Solution Type (OEM, Aftermarket), By Application (Solutions, Services), By Region – Global Analysis Forecast Till 2030

The Global Commercial Telematics Market size accounted for US$ 16,871 million in 2021 and is estimated to be US$63,981.5 million by 2030 and is anticipated to register a CAGR of 15.48%.

Telematics is a technology for tracking the whereabouts and motion of a vehicle using a combination of the Global Positioning System (GPS) and on-board diagnostics equipment. You can follow a vehicle's speed and internal functioning using a GPS and diagnostics system. To track a vehicle's position and activity, telematics devices are used mainly by fleet management businesses and auto insurance agencies.

The services and solutions used for tracking and managing a commercial vehicle using a telecommunications device are referred to as being part of the worldwide commercial telematics market. Using a Fleet Telematics System (FTS), the central authority can track vehicle diagnostics and position information from a fleet of commercial vehicles.

Market Dynamics

Drivers:

Over time, smartphones have altered how we define connectedness. Even while they are travelling, people want to maintain contact with the outside world. As connectivity becomes increasingly important, automakers integrate connectivity features into their automobiles to increase sales. Customers anticipate their cars to fulfil comparable functions to those of their computers and smartphones. For automakers, integrating connection technologies into the vehicle has taken top importance. Modern vehicles include a variety of networking options. For each of these to function properly, internet access is required. Solutions for embedded, integrated, or tethered connection can all be used to enable connectivity in automobiles. The digital revolution is currently affecting the car sector.

The next few years will see a total transformation of cars into communication devices. As a result of the rising customer need for constant connectivity, even when travelling, the commercial telematics market is predicted to expand at a promising rate.

Restraints:

Through the use of cloud services and internet access, telematics devices may share real-time data. Fleet owners' main concerns increasingly centre on cyber security and data security, which further restrains market expansion. Further impeding the market's expansion is the fact that, as a young technology, telematics hasn't yet reached several emerging and impoverished nations.

Key players:

• Michelin,

• Mix Telematics International (Pty) Ltd.,

• Trimble Inc.,

• Geotab Inc.,

• Verizon Communications Inc.,

• Solera Holdings Inc.,

• Navistar Inc.,

• Daimler AG,

• Fleet Complete,

• Masternaut Limited.,

• Continental AG,

• TomTom Telematics BV,

• Omnitracs LLC,

• Inseego Corporation,

• Octo Telematics Ltd.,

• Volkswagen Commercial Vehicles,

• Bridgestone Corporation,

• Google Inc.,

• Zonar Systems Inc.,

• Cisco Systems Inc.,

• LG Electronics Inc.,

• AirlQ Inc.,

• Systems and Technology Corp., etc

• And Others

Market Segmentation:

Commercial Telematics Market, By Type:

• Bluetooth

• Smartphone

• Black box

• OEM (Original Equipment Manufacturer)

• OBD (On-board Diagnostics)

• Others

Commercial Telematics Market, By Application:

• Onboard Connectivity Services

• Logistics & Transportation

• Automobile Insurance

• Vehicle Tracking

• Others

Commercial Telematics Market, By Region:

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

Regional Analysis:

In comparison to other regions, North America has the largest market penetration. The North American market has already reached maturity. In addition, the industry is supported by the presence of reputable telematics solutions providers like Verizon Connect, Omnitracs, and others. Additionally, the widespread use of electric and linked commercial vehicles promotes Commercial Telematics Market growth. Over the projection period, Asia Pacific is expected to experience the greatest growth with a CAGR of 25.9%.

It is projected that rising telematics adoption in developing nations including China, India, Japan, and South Korea will drive regional commercial telematics market expansion. The presence of a robust automotive and transportation sector and the rising uptake of telematics are expected to drive Commercial Telematics market expansion.

The demand for effective fleet management is fueled by increasing import-export operations, which is what drives the commercial telematics market quick expansion.

Scope of the Report:

User

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