Commercial Vehicle Telematics Market - Trending Technologies, Business Developments, Innovations, Key Players and Forecast 2022

 priya Kulkarni
  31st-Oct-2018
 465

The commercial vehicle telematics market size is expected to grow from USD 7.31 billion in 2017 to USD 18.43 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.3%. The major drivers of the commercial vehicle telematics market include growing government mandate for deploying vehicle tracking in commercial vehicles and rising demand for smartphones supplements the adoption of telematics solutions and services.

Download PDF brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=22050839

The scope of the report covers the commercial vehicle telematics market analysis by type (solutions and services), provider type, vertical, and region. The safety and compliance solutions segment is expected to grow at the highest CAGR during the forecast period owing to increasing concerns of governments across the globe for safety and compliance to avoid theft protection, accident communications and others. Various governments across the globe have passed regulations to define the driver work hours, fuel efficiency and consumption, safety policies, laws and others.

The professional services segment is expected to have the largest market share during the forecast period owing to the need of technological consulting, and continuous support and maintenance activities for the deployment of smart technologies.

Market Dynamics:

Drivers

  • Increasing adoption of NGTP protocol would enhance the telematics service delivery
  • Proliferation of telematics technology due to decreasing sensor and connectivity cost
  • Growing government mandate for deploying vehicle tracking in commercial vehicles
  • Rising demand for smartphones supplements the adoption of telematics solutions and services

Restraints

  • Increased communication, leading to security and privacy concerns

Opportunities

  • ELD mandate offers a new revenue stream opportunity for the existing vendors
  • Telematics data can be harnessed to make better-informed business decisions

Challenges

  • Legacy telematics hardware capabilities hinder the efficiency of data communication with advanced computing processing units
  • Complete network coverage and elimination of blind spots
  • Lack of a standardized system

Know More - https://www.marketsandmarkets.com/Market-Reports/commercial-telematics-market-22050839.html

As per the geographic analysis, North America is estimated to hold the largest market share during the forecast period. This is due to the major market share is early adoption of telematics technology for commercial vehicle in the region. North America constitutes of developed economies such as US and Canada. These countries are significantly advanced in terms of technology and its application deployments. The commercial automobile industry in US is more than a decade old. Moreover, government regulations, policies and mandates for the different application of commercial vehicle telematics is expected to drive the market growth in North America.

The major vendors covered in the commercial vehicle telematics market include PTC, Inc. (US), Trimble Inc. (US), TomTom Telematics BV (Netherlands), Verizon Telematics, Inc. (US), MiX Telematics International (Pty) Ltd (South Africa), Zonar Systems, Inc. (US), Octo Telematics Ltd. (UK), Omnitracs, LLC (US), Masternaut Limited (UK), Microlise Limited (UK), Inseego Corporation (US), and Volkwagen Commercial Vehicles (UK).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: sales@marketsandmarkets.com
Visit Our Website
: https://www.marketsandmarkets.com

Domain: Business
Category: Sales & Marketing
Posted By: priya Kulkarni and Contact priya Kulkarni

Recent Press Releases

Global Acrylic Elastomers Market by ...

Global Acrylic Elastomers Market is expected to register a CAGR of healthy rate in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, th

14 November, 2018

Global Acrylic Elastomers Market Ind...

Global Acrylic Elastomers Market is expected to register a CAGR of healthy rate in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, th

14 November, 2018

Global Fitness Equipment Market grow...

Global Fitness Equipment Market is expected to reach USD 29,867.49 million by 2025 from USD 18,599.79 million in 2017, at a CAGR of 6.2% in the forecast period 2018 to 2025. The ne

14 November, 2018