The report presents a comprehensive overview of industry trends, growth share and the competitive landscape in 200 pages.
“Commercial Telematics Market” report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Commercial Telematics Market by region.
Global Commercial Telematics Market is valued at approximately USD 19.20 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.3% over the forecast period 2022-2029.
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Commercial Telematics refers to automotive communication and information technologies intended for fleet and commercial trucks segment. Commercial telematics comprised of different components including GPS receiver, sensors, onboard diagnostics systems and sim card for data sharing, and camera setup, fleet communication services, buzzer and accelerometer among others. The commercial telematics system uses an onboard modem to send data to the company’s central server facility. Telematics system provides insights related to location, vehicle usage, maintenance issues, fuel consumption, idling time, and instances of harsh driving etc. The increasing expansion of logistics & transportation sector and growing penetration of e-commerce services as well as recent strategic initiatives from leading market players are factors driving the market growth.
The rapid expansion of logistics and transportation sector is contributing to the growth of the Global Commercial Telematics Market. For instance, according to Statista – in 2020, the global logistics industry was valued at USD 5.56 trillion, and, by the year 2024 the logistics industry is projected to exceed USD 6.60 trillion. Moreover, the surging expansion of e-commerce services is another factor driving the market growth. For instance, as per India Brand Equity Foundation (IBEF) estimates – in 2021, the Indian e-commerce market was valued at USD 74.8 billion, and the market is projected to reach USD 111 billion by 2024 and further USD 200 billion by 2026. Also, increasing investment in multimodal logistics infrastructure and favorable initiatives from government authorities to promote safe transportation would create a lucrative growth prospectus for the market over the forecast period. However, factors such as timely maintenance, high deployment cost and frequent changes in regulatory & compliance policies impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Commercial Telematics Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to growing expansion of logistics sector and presence of leading market players coupled with availability of required technological infrastructure in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising investment from authorities in logistics sector, and increasing penetration of direct to consumer (D2C) brands coupled with growing emergence of e-commerce platforms in the region.
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Major market players included in this report are:
- Cartrack
- Daimler Fleetboard Gmbh
- Fleet Complete
- Geotab Inc.
- Microlise
- Masternaut Limited
- Mix Telematics
- Navistar, Inc
- Omnitracs
- Tomtom International Bv.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Solution Type
Automotive OEM Services
Aftermarket Telematics
By Application
Solutions
Services
By End-User
Transportation & Logistics
Insurance
Healthcare
Media & Entertainment
Vehicle Manufacturers & Dealers
Government Agencies)
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
Key Market Features in Global Market:The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The study also offers a thorough analysis of the most important market factors and their most recent developments, as well as pertinent market segments and sub-segments.
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
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