Commercial Telematics Market Growing over 18% CAGR and will Exceeds USD 42 Billion Revenue by 2023

Commercial Telematics Market
Commercial Telematics Market, By Type (Vehicle Telematics, Fleet Telematics, Insurance Telematics), By Solutions (Navigation & Location Based, V2v And V2i, Infotainment, Tele-Health Remote, Alarm & Monitoring), By End-Users (Government Agencies, Media & Entertainment, Transportation and Logistics, Insurance, Healthcare), By End-Users- Forecast 2023

Market Highlights

The study reveals that commercial telematics is trending in North America region. The innovation in technology including video capabilities, artificial intelligence and others, are driving factors for the market growth to the large extent. It helps to collect the information about the people who all are using telematics to manage the fleet without bothering much about the cost. In 2012, Verizon Communications Inc. has acquired of HUGHES Telematics Inc. to provide and accelerate growth through the delivery of advanced automotive, fleet telematics and machine-to-machine services. The majority of applications are automotive navigation, real-time vehicle information, infotainment solutions, and others.

 

In North America region, the Commercial Telematics Market is estimated to grow with huge market size in coming years. The electronic logging devices has been made mandatory in U.S and is leading to high adoption by smaller fleets. The commercial telematics solutions offer to monitor the fuel consumption and measures CO2 emission in the vehicles. The telematics is widely used in automotive connectivity solution. It offers new business model to the automotive, transportation, health care and other industries, which is driven by safety improvements, consumer trends, increasingly connected lifestyles and others.

 

The global commercial telematics market is growing rapidly over ~18% of CAGR and is expected to reach at USD ~ 42 Billion by the end of forecast period.

 

Commercial Telematics Market Players:

  • 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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Global Commercial telematics Market Segmentation

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.

 

Market Research Analysis:

On geographic basis, global commercial telematics market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share growth in the commercial telematics market. The commercial telematics is gaining huge demand due to smart phones, availability of high speed internet technologies, low connectivity cost, road infrastructure constraints, and others. In this market, Europe is to be estimated to be the second largest market share for commercial telematics during the forecast period.

 

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Intended Audience

–        Commercial telematics manufacturing companies

–        Automotive Original Equipment Manufacturers

–        Compliance regulatory authorities

–        Government agencies

–        Information technology companies

–        Investors and Venture Capitalists

–        Commercial telematics providers

–        Research and development companies

–        Market research and consulting firms

–        Solution providers

–        Technology standards organizations

–        Technology investors

–        System Inegrators

 

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