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Commercial Vehicle Telematics Market

Commercial Vehicle Telematics Market Size, Share and Segmentation by Type (Solutions, Services), by Provider Type (OEM, Aftermarket), by Verticals (Transportation and Logistics, Healthcare, Vehicle Manufacturers/Dealers, Insurance, Media & Entertainment, Government Agencies), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/AUTO/1596 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Commercial Vehicle Telematics Market Size was valued at USD 15.6 billion in 2021 and is expected to reach USD 54.60 billion by 2028 and grow at a CAGR of 19.6% over the forecast period 2022-2028.

Telematics is a methodology for tracking the location and movement of a vehicle using a mix of GPS and onboard diagnostics equipment. It is possible to record the vehicle's speed and internal behavior using a GPS and diagnostics system. It is possible to record the vehicle's speed and internal behavior using GPS and a diagnostics system. It offers the car services like safety, security, and navigation. Automobile insurance firms, fleet management businesses, and others use telematics systems to track the position and behavior of their vehicles. Automobile insurance firms, fleet management businesses, and others use telematics systems to track the position and behavior of their vehicles. The global commercial telematics market encompasses the services and solutions used to track and operate a commercial vehicle via a communications device.

Commercial Vehicle Telematics Market Revenue Graph

A Fleet Telematics System (FTS) allows a commercial vehicle fleet and a central authority to share information, allowing them to keep track of vehicle diagnostics and position. Telematics data can be used to help businesses make better decisions and strategies. It is possible to record the vehicle's speed and internal behavior using GPS and a diagnostics system. It offers the car services like safety, security, and navigation. Automobile insurance firms, fleet management businesses, and others use telematics systems to track the position and behavior of their vehicles.

MARKET DYNAMICS: 

KEY DRIVERS: 

  • Increased NGTP deployment would improve telematics service delivery.

  • One of the primary factors driving the global market's growth is the rising number of traffic accidents.

  • The rapid development of the logistics and transportation industries.

RESTRAINTS: 

  • Increased communication has resulted in security and privacy concerns.

  • Telematics has yet to enter several countries as a young technology, further impeding the market growth.

OPPORTUNITIES: 

  • The adoption of smartphones & 4G technology is projected to present a significant potential for market participants.

  • 5G connectivity will open up new market prospects.

CHALLENGES: 

  • One of the main barriers to end customers using telematics solutions is data privacy violations.

  • Concerns about cybersecurity.

IMPACT OF COVID-19:

On a global scale, the COVID-19 outbreak had a significant impact on the automotive industry. COVID-19 has had the most immediate impact on the automotive industry, with numerous OEM and supplier plants coming to a halt. Other signs include a halt in the export of Chinese automobile parts, massive industrial disruptions across Europe, and the closure of assembly plants in the United States. The pandemic has also had an impact on revenue streams dedicated to R&D and the adoption of new technologies in the commercial telematics sector. However, the commercial telematics industry is expected to increase significantly in the near future, owing to rising immunization rates worldwide and the high demand for commercial vehicles.

KEY MARKET PLAYERS:

Navistar, Inc., Omnitracs, LLC, Vontier Corporation, Geotab Inc., Solera Holdings, Inc., Fleet Complete, Continental AG, Daimler AG, Karooooo Ltd., Michelin, PTC, Inc., TomTom Telematics BV, Trimble Inc., Verizon Telematics, Inc., Mix Telematics International (PTY) Ltd., OCTO Telematics Ltd., Zonar Systems, Masternaut Limited and Microlise Group Ltd. are some of the affluent competitors with significant market share in the Commercial Vehicle Telematics Market.

MARKET ESTIMATION: 

Market, By Type:

Based on the type segment, the global market has been divided into solutions and services. In the following years, the Services segment is expected to increase at a considerable CAGR. The services and solutions used for monitoring and operating a commercial vehicle via a communications device are referred to as the global commercial vehicle telematics market.

Market, By Provider Type:

The global market has been divided into OEM, and aftermarket based on the provider type segment. The OEM category accounted for a substantial portion of the market and is expected to increase at a considerable CAGR in the following years.

Market, By Verticals:

Based on the vertical segment, the global market has been divided into Transportation and Logistics, Healthcare, Vehicle Manufacturers/Dealers, Insurance, Media & Entertainment, and Government Agencies. The Government agencies sector accounted for a major portion of the market and is expected to grow at a considerable CAGR over the next few years. Telematics systems are used in the transportation and logistics industry to monitor, track, manage, and upgrade fleets.

MARKET SEGMENTATION:

By Type:

  • Solutions

  • Services

By Provider Type:

  • OEM

  • Aftermarket

By Verticals:

  • Transportation and Logistics

  • Healthcare

  • Vehicle Manufacturers/Dealers

  • Insurance

  • Media & Entertainment

  • Government Agencies

Commercial Vehicle Telematics Market Segment Chart

REGIONAL ANALYSIS:

North America, Europe, Asia-Pacific, and the rest of the globe make up the worldwide Commercial Vehicle Telematics market. Due to untapped market strength, increasing awareness about driver safety and accident prevention, upcoming regulations to improve road safety, the presence of leading OEM players, growing transportation and logistics industries, and the advent of 4G LTE technology and smartphones, the commercial vehicle telematics market in the Asia Pacific is expected to grow at the fastest rate during the forecast period. Additionally, favorable government rules and regulations are expected to propel the commercial vehicle telematics market in the Asia Pacific to new heights over the forecast period. In the coming years, the commercial vehicle telematics industry in North America is expected to increase significantly.

REGIONAL COVERAGE:

  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Commercial Vehicle Telematics Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 15.6   Billion
Market Size by 2028 US$ 54.60 Billion
CAGR CAGR of 19.6% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Type (Solutions, Services),
• by Provider Type (OEM, Aftermarket)
• by Verticals (Transportation and Logistics, Healthcare, Vehicle Manufacturers/Dealers, Insurance, Media & Entertainment, Government Agencies)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Navistar, Inc., Omnitracs, LLC, Vontier Corporation, Geotab Inc., Solera Holdings, Inc., Fleet Complete, Continental AG, Daimler AG, Karooooo Ltd., Michelin, PTC, Inc., TomTom Telematics BV, Trimble Inc., Verizon Telematics, Inc., Mix Telematics International (PTY) Ltd., OCTO Telematics Ltd., Zonar Systems, Masternaut Limited and Microlise Group Ltd. 
Key Drivers •Increased NGTP deployment would improve telematics service delivery.

•One of the primary factors driving the global market's growth is the rising number of traffic accidents.
RESTRAINTS •Increased communication has resulted in security and privacy concerns.

•Telematics has yet to enter several countries as a young technology, further impeding the market growth.


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of the Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Commercial Vehicle Telematics Market Segmentation, by Type

8.1 Solutions

8.2 Services

 

9. Global Commercial Vehicle Telematics Market Segmentation, by Provider Type

9.1 OEM

9.2 Aftermarket

 

10. Global Commercial Vehicle Telematics Market Segmentation, by Verticals

10.1 Transportation and Logistics

10.2 Healthcare

10.3 Vehicle Manufacturers/Dealers

10.4 Insurance

10.5 Media & Entertainment

10.6 Government Agencies

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 the USA

11.2.2  Canada

11.2.3  Mexico

11.3 Europe

11.3.1  Germany

11.3.2  the UK

11.3.3  France

11.3.4  Italy

11.3.5  Spain

11.3.6  The Netherlands

11.3.7  Rest of Europe

11.4 Asia-Pacific

11.4.1  Japan

11.4.2  South Korea

11.4.3  China

11.4.4  India

11.4.5  Australia

11.4.6  Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1  Israel

11.5.2  UAE

11.5.3  South Africa

11.5.4  Rest

11.6 Latin America

11.6.1  Brazil

11.6.2  Argentina

11.6.3  Rest of Latin America

 

12. Company Profiles

12.1 PTC Inc.,

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Navistar, Inc.

12.3 Vontier Corporation

12.4 Geotab Inc.

12.5 Solera Holdings, Inc.

12.6 Fleet Complete

12.7 Continental AG

12.8 Daimler AG

12.9 Karooooo Ltd.

12.10 Michelin

12.11 PTC Inc.

12.12 TomTom Telematics BV

12.13 Trimble Inc.

12.14 Verizon Telematics, Inc.

12.15 Mix Telematics International (PTY) Ltd.

12.16 OCTO Telematics Ltd.

12.17 Omnitracs, LLC

12.18 Masternaut Limited

12.19 Zonar Systems

12.20 Microlise Group Ltd.

 

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

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Secondary Research

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