Market Highlights
The global commercial telematics market is expected to grow at USD ~42 Billion by 2023, at ~18% of CAGR between 2017 and 2023.The study reveals that commercial telematics is trending in North America region. The innovation in technology including video capabilities, artificial intelligence and others, are driving factors for the market growth to the large extent. It helps to collect the information about the people who all are using telematics to manage the fleet without bothering much about the cost. In 2012, Verizon Communications Inc. has acquired of HUGHES Telematics Inc. to provide and accelerate growth through the delivery of advanced automotive, fleet telematics and machine-to-machine services. The majority of applications are automotive navigation, real-time vehicle information, infotainment solutions, and others.
The commercial telematics 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.
In North America region, the commercial telematics market is estimated to grow with huge market size in coming years. The electronic logging devices has been made mandatory in U.S and is leading to high adoption by smaller fleets. The commercial telematics solutions offers to monitor the fuel consumption and measures CO2 emission in the vehicles. The telematics is widely used in automotive connectivity solution. It offers new business model to the automotive, transportation, health care and other industries, which is driven by safety improvements, consumer trends, increasingly connected lifestyles and others.
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Key Players:
The prominent players in the global commercial telematics market are – 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), and Mix Telematics International Ltd (South Africa), among others.
Segments:
The global commercial telematics market has been segmented on the basis of type, operation system, ruggedness, end- users and region.
Global Commercial Telematics Market by Type:
Vehicle Telematics
Fleet telematics
Insurance Telematics
Others
Global Commercial Telematics Market by Solutions:
Remote Alarm & Monitoring
Navigation and location based
Infotainment
V2v and V2i
Tele-health
Others
Global Commercial Telematics Market by End- Users:
Media & Entertainment
Government agencies
Transportation and Logistics
Insurance
Healthcare
Others
Global Commercial Telematics Market by Regions:
North America
Europe
APAC
Rest of the World
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
Continued…
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