The global commercial vehicle telematics is expected to grow at a significant CAGR during the forecast period. The major application of commercial vehicle telematics is to track the vehicle. This telematics enables the transmission of information from long distances in commercial automobiles which includes monitoring of vehicle movement and location by the combination of two major systems, such as on-board diagnostic system and global positioning system (GPS). Telematics system is widely used by fleet management companies, automobiles insurance companies to monitor and record the behavior, speed, and location of the vehicle.
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The rising instances of highway collisions and automobiles’ high speed are the dominant factor that drives the growth of the market. Emerging technologies such as vehicle telematics monitor automobiles activities and regulate their function that will allow the commercial users to increase the implementation of such systems. This, in turn, is anticipated to explore the growth opportunities for the market. The market is further expected to escalate owing to the increasing adoption of smartphones and 4G/5G technology. The rapid development of the emerging logistics and transportation industries is expected to accelerate the market growth during the forecast period. The increasing privacy and security concerns in a vehicle is also supporting the adoption of commercial vehicle telematics solutions.
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Market Coverage
- Segment Covered-
o By Type
o By Provider Type
o By Vertical
- Competitive Landscape- PTC, Inc., Trimble Inc., TomTom Telematics BV, Verizon Telematics Inc., Mix Telematics International (PTY) Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Commercial Vehicle Telematics Market Report Segment
By Type
- Solutions
- Services
By Provider Type
- OEM
- Aftermarket
By Vertical
- Transportation & Logistics
- Government & Utilities
- Travel & Tourism
- Construction
- Education
- Healthcare
- Others
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