Commercial Telematics Market – Scenario
The Commercial Telematics Global Market is useful for transmitting real-time information to the devices. Market Research Future (MRFR) has published a research report on the global commercial telematics market that assesses advancement for this market at 18% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The pivotal factor inspiring growth for the global commercial telematics market is the increasing number of subscribers as well as companies that are showing a higher level of penetration in the commercial telematics market. Other factors supporting the market growth include transition towards efficient as well as low-cost telematics systems, growing use of telematics in automotive industries, growing demand for telematics in automotive applications, investments transpired in research and development (R&D) activities to develop control & communications systems, and technological integration among platforms. Growing applications of telematics across various sectors are leading to market growth. However, economic uncertainty can hamper market growth.
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The key players in the global commercial telematics market include AT&T Inc. (USA), Bayerische Motoren Werke AG (Germany), Ford Motor Company (USA), Harman International Industries Inc. (USA), Mix Telematics International Ltd (South Africa), Telefónica S.A. (Spain), TomTom Telematics BV (Netherlands), Trimble Inc. (USA), Verizon Communications Inc. (USA), and Vodafone Group PLC (UK).
The global commercial telematics market can be segmented on the basis of end-user, solutions, types, and lastly, region. Based on end-users, this market has been segmented into government agencies, healthcare, insurance, media & entertainment, transportation & logistics, and others. Regarding solutions, the market can be segmented into infotainment, navigation & location based, remote alarm & monitoring, V2v & V2i, telehealth, and others. By types, the market segmentation covers fleet telematics, insurance telematics, vehicle telematics, and others.
Latest Industry News
American Association of Insurance (AAIS), the only national non-profit advisory organization in the USA is partnering with eTech Services, Inc., a technology solutions provider that works exclusively on the insurance vertical. This partnership aims to deliver telematics-enabled solutions to AAIS Member insurance carriers with regards to commercial auto insurance. 27 MAR 2019
Ford’s new commercial vehicle lineup is coming with 4G Long-Term Evolution (LTE) Wi-Fi that would enable fleets to use new Ford Telematics and Ford Data Services fleet management solutions. 7 MAR 2019
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The regional segmentation of the global commercial telematics market has segmented the market into regional markets named Asia Pacific, North America, Europe, and the rest of the world (RoW). Regarding market share, North America is one of the leading regional markets because it is the biggest market for self-install on-board diagnostics devices. Many important market players are based in North America. The strongest economies that can be most important country-specific markets in this region are the USA and Canada.
In Europe, the rapid market growth can be expected due to the increasing use of telematics in the insurance industry that is being dominated by hardwired aftermarket black boxes that are in high demand. In Europe, the United Kingdom (UK) is the most important country-specific market. France and Germany are two strong economies that can be important country-specific markets in the future. Some of the important market players are based in Europe too.
During the forecast period, the Asia Pacific region can be a high-level regional market due to countries like China, Japan, and South Korea becoming important telematics hubs. India is another strong economy with adequate infrastructure that can make it an important country-specific market.
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