The Commercial Vehicle Telematics Market Size was valued at USD 18.65 billion in 2022 and is expected to reach USD 78.10 billion by 2030 and grow at a CAGR of 19.6% over the forecast period 2023-2030.
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.
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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.
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
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.
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.
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.
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.
By Type:
Solutions
Services
By Provider Type:
OEM
Aftermarket
By Verticals:
Transportation and Logistics
Healthcare
Vehicle Manufacturers/Dealers
Insurance
Media & Entertainment
Government Agencies
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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
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, Microlise Group Ltd. and other some of the affluent competitors with significant market share in the Commercial Vehicle Telematics Market.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 18.65 Billion |
| Market Size by 2030 | US$ 78.10 Billion |
| CAGR | CAGR of 19.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| 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. |
The market expected to reach USD 78.10 billion by 2030.
The market is Grow at a CAGR of 19.6% over the forecast period 2023-2030.
The major players are 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., and others in final report.
Asia Pacific region is dominating the market.
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 Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
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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