Market Scenario:
The companies such as Verizon Communications, Inc. (U.S.), Harman International Industries, Inc. (U.S.), TomTom Telematics BV (Netherlands), Vodafone Group Plc (U.K), Bayerische Motoren Werke AG (Germany), are the leading provider of commercial telematics solutions. In August, 2014, Vodafone Group Plc. has acquired Cobra Automotive Technologies S.p.A to provide full range of value-added security, telematics services and managed M2M connectivity to the automotive and insurance industry.
The Commercial Telematics Market are widely used in industries for transmitting the real time information to the devices. The increasing number of subscribers and companies are showing a higher level of penetration in commercial telematics market. It is widely used in automotive industries which will show a rapid growth by the end of the forecasted period. In North America, it is estimated that approximately 35% of all commercial and government vehicles are equipped with telematics.
The global commercial telematics market is bifurcated on the basis of type, solutions, end- users and region. The type is segmented into vehicle telematics, fleet telematics, insurance telematics and others. The solutions is segmented on the basis of remote alarm & monitoring, navigation and location based, infotainment, V2v and V2i, tele-health and others. The end-users is segmented into government agencies, media & entertainment, transportation and logistics, insurance, healthcare and others. The region includes North America, Europe, Asia Pacific and rest of the world.
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The regional analysis of commercial telematics market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading region across the world in terms of market share in commercial telematics market as self-install on-board diagnostics devices are capturing maximum market in North America. The commercial telematics market in Europe region is expected to witness rapid growth in the forthcoming period. The commercial telematics in insurance industry are largely dominated by hardwired aftermarket black boxes and has huge demand in the market. Whereas, Asia-Pacific countries like China, Japan and South Korea is an emerging market for commercial telematics market and expected to be the highest CAGR in the coming year.
The global commercial telematics market is expected to grow at USD 42 Billion by 2023, at 18% of CAGR between 2017 and 2023.
Commercial Telematics Market Players:
- Verizon Communications, Inc.(U.S.)
- Harman International Industries, Inc. ( U.S.)
- TomTom Telematics BV (Netherlands)
- AT&T Inc. (U.S.)
- Vodafone Group Plc (U.K)
- Ford Motor Company (U.S.)
- Bayerische Motoren Werke AG (Germany)
- Trimble Inc. (US), Telefónica S.A. (Spain)
- Mix Telematics International Ltd (South Africa)
Global Commercial telematics Market Segmentation
The global commercial telematics market is bifurcated on the basis of type, solutions, end- users and region. The type is segmented into vehicle telematics, fleet telematics, insurance telematics and others. The solutions is segmented on the basis of remote alarm & monitoring, navigation and location based, infotainment, V2v and V2i, tele-health and others. The end-users is segmented into government agencies, media & entertainment, transportation and logistics, insurance, healthcare and others. The region includes North America, Europe, Asia Pacific and rest of the world.
Market Research Analysis:
On geographic basis, global commercial telematics market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share growth in the commercial telematics market. The commercial telematics is gaining huge demand due to smart phones, availability of high speed internet technologies, low connectivity cost, road infrastructure constraints, and others. In this market, Europe is to be estimated to be the second largest market share for commercial telematics during the forecast period.
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Intended Audience
- Commercial telematics manufacturing companies
- Automotive Original Equipment Manufacturers
- Compliance regulatory authorities
- Government agencies
- Information technology companies
- Investors and Venture Capitalists
- Commercial telematics providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Inegrators
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