The global commercial telematics market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Telematics is defined as a method of monitoring the location and movement of vehicle through various systems such as Global Positioning System (GPS) and on boards diagnostics systems. With the support of GPS and on boards diagnostics systems, it becomes easy to track the speed and internal behavior of the vehicle. In addition, intelligent transportation system and improved performance of autonomous vehicles promise immense growth opportunities for the market. Further, the market growth is also attributable to the rise in customer demands to stay connected throughout, even while travelling.
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The regulatory bodies all over the globe keep reforming the policies regarding the safety, security, and tracking of vehicles. This prominent factor is likely to drive the growth of the global commercial telematics market. For instance, the US Department of Transportation has issued guidelines for tracking of vehicles. In agreement with the same, the fleet manager is assigned to report all the violations as identified by federal or state investigators, the detailed list of all the violations detected during inspections, and state-supplied crash reports. Moreover, it is also mandated that all of the fleet management systems (FMS) should be certified from the Federal Motor Carrier Safety Advisor. Further, in April 2018, Government of India passed rule for all the public transport vehicles over six-seater capacity should have tracking device installed in them. Thus, stringent government rules regarding vehicle telematics are driving the growth of the market.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Type
o By Application
o By End-User
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Verizon Communications Inc., Trimble Inc., and Geotab Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Commercial Telematics Market Report by Segment
By Type
- OEM
- Aftermarket
By Application
- Solutions
- Services
By End-User
- Transportation and Logistics
- Healthcare
- Media & Entertainment
- Vehicle Manufacturers & Dealers
- Government Agencies
- Others
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