Global Commercial telematics Market, By Type (OEM, Aftermarket), Platform (Embedded Systems, Tethered Systems, Smartphone Integration Systems), Application (Insurance Telematics, Fleet / Asset Management, Satellite Navigation, Infotainment, Remote Alarm and Monitoring, Telehealth Solutions), End User (Healthcare, Construction, Transportation and Logistics, Government and Utilities), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Commercial Telematics Market
Commercial telematics market size is valued at USD 105,932.7 million by 2028 is expected to grow at a compound annual growth rate of 17.80% in the forecast period of 2021 to 2028. Data Bridge Market Research report on commercial telematics provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Commercial telematics is basically a technological solution which offers long-distance transmission of information in commercial automobiles or through a telecommunication device. It is also used for monitoring the location and movement of vehicles through global positioning systems (GPS) and on-board diagnostic systems to track vehicle diagnostics and with the help of GPS and diagnostics system, it is possible to record the speed and track of vehicle diagnostics and location. The various advantages such as insurance risk assessment, lower fuel consumption, maintenance insights, monitor driver behaviour, safety tracking and alerting the fleet manager in case of any unauthorized movement are major reasons for high adoption of commercial telematics.
The significant growth in the transportation industry and the adoption of internet of things (IoT) in manufacturing sector for vehicle management across the globe are the major factors expected to drive the market’s growth over the forecast period of 2021 to 2028. In addition, the rising fuel prices, favourable regulations and increasing trend of vehicle connectivity solution coupled with increasing utilization of digital devices provide more accurate insights about the vehicles which propels the growth of the market. The benefits offered by commercial telematics such as improving vehicle efficiency, facilitating smart routing and tracking, providing on-road assistance and enhancing the driver's experience also are prominent factors driving the demand for the market. Moreover, the growing focusing on intelligent transportation system and various technological advancements, such as the development of open-source frameworks for commercial telematics are expected to create various new opportunities that will lead to the lift in the growth of the commercial telematics market in the above mentioned forecasted period.
However, the unavailability of uninterrupted & seamless connectivity and the high installation costs are expected to act as the major limitations for the growth of commercial telematics in the above mentioned forecasted period, whereas the threat of data hacking and the concerns regarding security might challenge the commercial telematics market growth in the forecast period of 2021 to 2028.
This commercial telematics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, 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 commercial telematics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Commercial Telematics Market Scope and Market Size
Commercial telematics market is segmented on the basis of type, platform, application and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the commercial telematics market is segmented into OEM and aftermarket.
- On the basis of platform, the market is segmented into embedded systems, tethered systems and smartphone integration systems.
- On the basis of application, the market is segmented into insurance telematics, fleet / asset management, satellite navigation, infotainment, remote alarm and monitoring and telehealth Solutions.
- On the basis of end user, the market is segmented into healthcare, construction, transportation and logistics, government and utilities.
Commercial Telematics Market Country Level Analysis
Commercial telematics market is analyzed and market size, volume information is provided by type, platform, application and end user as referenced above.
The countries covered in the commercial telematics market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, 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).
North America is estimated to dominate the commercial telematics market due to the presence of numerous players and increased adoption of the next-generation telematics protocol within the region. Asia Pacific are expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 due to the factors such as safety and compliance solutions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream 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 their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Commercial Telematics Market Share Analysis
Commercial telematics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to commercial telematics market.
The major players covered in the commercial telematics market report are AirIQ Inc., Bridgestone Corporation, Geotab Inc., Omnitracs, General Motors, Masternaut Limited, Mix Telematics International, Octo Group S.p.A, Trimble Inc., Verizon, Zonar Systems, PTC, TomTom International BV, Daimler AG, SenSight Technologies Pvt. Ltd, TELTONIKA, AB Volvo, Ryder System, Inc., GPS Insight, Geotab Inc.among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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