The Commercial Vehicle Telematics Market Size was valued at USD 66.30 billion in 2023 and is expected to reach USD 195.86 billion by 2031 and grow at a CAGR of 14.5% over the forecast period 2024-2031.
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
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.
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Omnitracs, LLC, 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 2023 | US$ 66.30 Billion |
| Market Size by 2031 | US$ 195.86 Billion |
| CAGR | CAGR of 14.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| 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 (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Omnitracs, LLC, 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 |
| 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 195.86 billion by 2031.
The market is Grow at a CAGR of 14.5% over the forecast period 2024-2031.
The major players are 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. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Commercial Vehicle Telematics Market Segmentation, By Type
9.1 Introduction
9.2 Trend Analysis
9.3 Solutions
9.4 Services
10. Commercial Vehicle Telematics Market Segmentation, By Provider Type
10.1 Introduction
10.2 Trend Analysis
10.3 OEM
10.4 Aftermarket
11. Commercial Vehicle Telematics Market Segmentation, By Verticals
11.1 Introduction
11.2 Trend Analysis
11.3 Transportation and Logistics
11.4 Healthcare
11.5 Vehicle Manufacturers/Dealers
11.6 Insurance
11.7 Media & Entertainment
11.8 Government Agencies
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Commercial Vehicle Telematics Market by Country
12.2.3 North America Commercial Vehicle Telematics Market By Type
12.2.4 North America Commercial Vehicle Telematics Market By Provider Type
12.2.5 North America Commercial Vehicle Telematics Market By Verticals
12.2.6 USA
12.2.6.1 USA Commercial Vehicle Telematics Market By Type
12.2.6.2 USA Commercial Vehicle Telematics Market By Provider Type
12.2.6.3 USA Commercial Vehicle Telematics Market By Verticals
12.2.7 Canada
12.2.7.1 Canada Commercial Vehicle Telematics Market By Type
12.2.7.2 Canada Commercial Vehicle Telematics Market By Provider Type
12.2.7.3 Canada Commercial Vehicle Telematics Market By Verticals
12.2.8 Mexico
12.2.8.1 Mexico Commercial Vehicle Telematics Market By Type
12.2.8.2 Mexico Commercial Vehicle Telematics Market By Provider Type
12.2.8.3 Mexico Commercial Vehicle Telematics Market By Verticals
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Commercial Vehicle Telematics Market by Country
12.3.2.2 Eastern Europe Commercial Vehicle Telematics Market By Type
12.3.2.3 Eastern Europe Commercial Vehicle Telematics Market By Provider Type
12.3.2.4 Eastern Europe Commercial Vehicle Telematics Market By Verticals
12.3.2.5 Poland
12.3.2.5.1 Poland Commercial Vehicle Telematics Market By Type
12.3.2.5.2 Poland Commercial Vehicle Telematics Market By Provider Type
12.3.2.5.3 Poland Commercial Vehicle Telematics Market By Verticals
12.3.2.6 Romania
12.3.2.6.1 Romania Commercial Vehicle Telematics Market By Type
12.3.2.6.2 Romania Commercial Vehicle Telematics Market By Provider Type
12.3.2.6.4 Romania Commercial Vehicle Telematics Market By Verticals
12.3.2.7 Hungary
12.3.2.7.1 Hungary Commercial Vehicle Telematics Market By Type
12.3.2.7.2 Hungary Commercial Vehicle Telematics Market By Provider Type
12.3.2.7.3 Hungary Commercial Vehicle Telematics Market By Verticals
12.3.2.8 Turkey
12.3.2.8.1 Turkey Commercial Vehicle Telematics Market By Type
12.3.2.8.2 Turkey Commercial Vehicle Telematics Market By Provider Type
12.3.2.8.3 Turkey Commercial Vehicle Telematics Market By Verticals
12.3.2.9 Rest of Eastern Europe
12.3.2.9.1 Rest of Eastern Europe Commercial Vehicle Telematics Market By Type
12.3.2.9.2 Rest of Eastern Europe Commercial Vehicle Telematics Market By Provider Type
12.3.2.9.3 Rest of Eastern Europe Commercial Vehicle Telematics Market By Verticals
12.3.3 Western Europe
12.3.3.1 Western Europe Commercial Vehicle Telematics Market by Country
12.3.3.2 Western Europe Commercial Vehicle Telematics Market By Type
12.3.3.3 Western Europe Commercial Vehicle Telematics Market By Provider Type
12.3.3.4 Western Europe Commercial Vehicle Telematics Market By Verticals
12.3.3.5 Germany
12.3.3.5.1 Germany Commercial Vehicle Telematics Market By Type
12.3.3.5.2 Germany Commercial Vehicle Telematics Market By Provider Type
12.3.3.5.3 Germany Commercial Vehicle Telematics Market By Verticals
12.3.3.6 France
12.3.3.6.1 France Commercial Vehicle Telematics Market By Type
12.3.3.6.2 France Commercial Vehicle Telematics Market By Provider Type
12.3.3.6.3 France Commercial Vehicle Telematics Market By Verticals
12.3.3.7 UK
12.3.3.7.1 UK Commercial Vehicle Telematics Market By Type
12.3.3.7.2 UK Commercial Vehicle Telematics Market By Provider Type
12.3.3.7.3 UK Commercial Vehicle Telematics Market By Verticals
12.3.3.8 Italy
12.3.3.8.1 Italy Commercial Vehicle Telematics Market By Type
12.3.3.8.2 Italy Commercial Vehicle Telematics Market By Provider Type
12.3.3.8.3 Italy Commercial Vehicle Telematics Market By Verticals
12.3.3.9 Spain
12.3.3.9.1 Spain Commercial Vehicle Telematics Market By Type
12.3.3.9.2 Spain Commercial Vehicle Telematics Market By Provider Type
12.3.3.9.3 Spain Commercial Vehicle Telematics Market By Verticals
12.3.3.10 Netherlands
12.3.3.10.1 Netherlands Commercial Vehicle Telematics Market By Type
12.3.3.10.2 Netherlands Commercial Vehicle Telematics Market By Provider Type
12.3.3.10.3 Netherlands Commercial Vehicle Telematics Market By Verticals
12.3.3.11 Switzerland
12.3.3.11.1 Switzerland Commercial Vehicle Telematics Market By Type
12.3.3.11.2 Switzerland Commercial Vehicle Telematics Market By Provider Type
12.3.3.11.3 Switzerland Commercial Vehicle Telematics Market By Verticals
12.3.3.1.12 Austria
12.3.3.12.1 Austria Commercial Vehicle Telematics Market By Type
12.3.3.12.2 Austria Commercial Vehicle Telematics Market By Provider Type
12.3.3.12.3 Austria Commercial Vehicle Telematics Market By Verticals
12.3.3.13 Rest of Western Europe
12.3.3.13.1 Rest of Western Europe Commercial Vehicle Telematics Market By Type
12.3.3.13.2 Rest of Western Europe Commercial Vehicle Telematics Market By Provider Type
12.3.3.13.3 Rest of Western Europe Commercial Vehicle Telematics Market By Verticals
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Commercial Vehicle Telematics Market by Country
12.4.3 Asia-Pacific Commercial Vehicle Telematics Market By Type
12.4.4 Asia-Pacific Commercial Vehicle Telematics Market By Provider Type
12.4.5 Asia-Pacific Commercial Vehicle Telematics Market By Verticals
12.4.6 China
12.4.6.1 China Commercial Vehicle Telematics Market By Type
12.4.6.2 China Commercial Vehicle Telematics Market By Provider Type
12.4.6.3 China Commercial Vehicle Telematics Market By Verticals
12.4.7 India
12.4.7.1 India Commercial Vehicle Telematics Market By Type
12.4.7.2 India Commercial Vehicle Telematics Market By Provider Type
12.4.7.3 India Commercial Vehicle Telematics Market By Verticals
12.4.8 Japan
12.4.8.1 Japan Commercial Vehicle Telematics Market By Type
12.4.8.2 Japan Commercial Vehicle Telematics Market By Provider Type
12.4.8.3 Japan Commercial Vehicle Telematics Market By Verticals
12.4.9 South Korea
12.4.9.1 South Korea Commercial Vehicle Telematics Market By Type
12.4.9.2 South Korea Commercial Vehicle Telematics Market By Provider Type
12.4.9.3 South Korea Commercial Vehicle Telematics Market By Verticals
12.4.10 Vietnam
12.4.10.1 Vietnam Commercial Vehicle Telematics Market By Type
12.4.10.2 Vietnam Commercial Vehicle Telematics Market By Provider Type
12.4.10.3 Vietnam Commercial Vehicle Telematics Market By Verticals
12.4.11 Singapore
12.4.11.1 Singapore Commercial Vehicle Telematics Market By Type
12.4.11.2 Singapore Commercial Vehicle Telematics Market By Provider Type
12.4.11.3 Singapore Commercial Vehicle Telematics Market By Verticals
12.4.12 Australia
12.4.12.1 Australia Commercial Vehicle Telematics Market By Type
12.4.12.2 Australia Commercial Vehicle Telematics Market By Provider Type
12.4.12.3 Australia Commercial Vehicle Telematics Market By Verticals
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Commercial Vehicle Telematics Market By Type
12.4.13.2 Rest of Asia-Pacific Commercial Vehicle Telematics Market By Provider Type
12.4.13.3 Rest of Asia-Pacific Commercial Vehicle Telematics Market By Verticals
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Commercial Vehicle Telematics Market by Country
12.5.2.2 Middle East Commercial Vehicle Telematics Market By Type
12.5.2.3 Middle East Commercial Vehicle Telematics Market By Provider Type
12.5.2.4 Middle East Commercial Vehicle Telematics Market By Verticals
12.5.2.5 UAE
12.5.2.5.1 UAE Commercial Vehicle Telematics Market By Type
12.5.2.5.2 UAE Commercial Vehicle Telematics Market By Provider Type
12.5.2.5.3 UAE Commercial Vehicle Telematics Market By Verticals
12.5.2.6 Egypt
12.5.2.6.1 Egypt Commercial Vehicle Telematics Market By Type
12.5.2.6.2 Egypt Commercial Vehicle Telematics Market By Provider Type
12.5.2.6.3 Egypt Commercial Vehicle Telematics Market By Verticals
12.5.2.7 Saudi Arabia
12.5.2.7.1 Saudi Arabia Commercial Vehicle Telematics Market By Type
12.5.2.7.2 Saudi Arabia Commercial Vehicle Telematics Market By Provider Type
12.5.2.7.3 Saudi Arabia Commercial Vehicle Telematics Market By Verticals
12.5.2.8 Qatar
12.5.2.8.1 Qatar Commercial Vehicle Telematics Market By Type
12.5.2.8.2 Qatar Commercial Vehicle Telematics Market By Provider Type
12.5.2.8.3 Qatar Commercial Vehicle Telematics Market By Verticals
12.5.2.9 Rest of Middle East
12.5.2.9.1 Rest of Middle East Commercial Vehicle Telematics Market By Type
12.5.2.9.2 Rest of Middle East Commercial Vehicle Telematics Market By Provider Type
12.5.2.9.3 Rest of Middle East Commercial Vehicle Telematics Market By Verticals
12.5.3 Africa
12.5.3.1 Africa Commercial Vehicle Telematics Market by Country
12.5.3.2 Africa Commercial Vehicle Telematics Market By Type
12.5.3.3 Africa Commercial Vehicle Telematics Market By Provider Type
12.5.3.4 Africa Commercial Vehicle Telematics Market By Verticals
12.5.3.5 Nigeria
12.5.3.5.1 Nigeria Commercial Vehicle Telematics Market By Type
12.5.3.5.2 Nigeria Commercial Vehicle Telematics Market By Provider Type
12.5.3.5.3 Nigeria Commercial Vehicle Telematics Market By Verticals
12.5.3.6 South Africa
12.5.3.6.1 South Africa Commercial Vehicle Telematics Market By Type
12.5.3.6.2 South Africa Commercial Vehicle Telematics Market By Provider Type
12.5.3.6.3 South Africa Commercial Vehicle Telematics Market By Verticals
12.5.3.7 Rest of Africa
12.5.3.7.1 Rest of Africa Commercial Vehicle Telematics Market By Type
12.5.3.7.2 Rest of Africa Commercial Vehicle Telematics Market By Provider Type
12.5.3.7.3 Rest of Africa Commercial Vehicle Telematics Market By Verticals
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Commercial Vehicle Telematics Market by country
12.6.3 Latin America Commercial Vehicle Telematics Market By Type
12.6.4 Latin America Commercial Vehicle Telematics Market By Provider Type
12.6.5 Latin America Commercial Vehicle Telematics Market By Verticals
12.6.6 Brazil
12.6.6.1 Brazil Commercial Vehicle Telematics Market By Type
12.6.6.2 Brazil Commercial Vehicle Telematics Market By Provider Type
12.6.6.3 Brazil Commercial Vehicle Telematics Market By Verticals
12.6.7 Argentina
12.6.7.1 Argentina Commercial Vehicle Telematics Market By Type
12.6.7.2 Argentina Commercial Vehicle Telematics Market By Provider Type
12.6.7.3 Argentina Commercial Vehicle Telematics Market By Verticals
12.6.8 Colombia
12.6.8.1 Colombia Commercial Vehicle Telematics Market By Type
12.6.8.2 Colombia Commercial Vehicle Telematics Market By Provider Type
12.6.8.3 Colombia Commercial Vehicle Telematics Market By Verticals
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Commercial Vehicle Telematics Market By Type
12.6.9.2 Rest of Latin America Commercial Vehicle Telematics Market By Provider Type
12.6.9.3 Rest of Latin America Commercial Vehicle Telematics Market By Verticals
13. Company Profiles
13.1 Omnitracs, LLC
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 PTC, Inc
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 TomTom Telematics BV
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Trimble Inc
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Verizon Telematics, Inc.
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Mix Telematics International (PTY) Ltd
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 OCTO Telematics Ltd
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Zonar Systems
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Masternaut Limited
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Microlise Group Ltd.
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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