Commercial Vehicle Telematics Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017

Published On:May 17, 2017, 6:21 pm

Commercial vehicle telematics is a procedure use to monitor a vehicle. By merging a GPS system along with an on-board diagnostics, one can map and record the precise position of a car. Not just that, it can also determine the speed of the car and cross reference the speed with whether internally how the car is behaving. By adding communication on a 3G network, telematics could be put to use in sending both data and communications to and fro between a central management system and a vehicle. The intersection of information and telecommunications processing, it later progressed to automation in automobiles like innovation of emergency warning system for vehicles. Incorporated hands-free cell phones, GPS navigation, automatic driving assistance, and wireless safety communications are all included under the commercial vehicle telematics.

The global commercial vehicle telematics is projected to reach USD 43.7 billion by the end of 2022, while registering at a considerable CAGR during the forecast period. Since the past few decades, commercial vehicle telematics, which is the child market of the entire telematics market, has garnered traction on the regional as well as global front. At the very core of this market industry is energy efficiency, navigation, and connected vehicles along with much other functionality. The latest enhancements in technology have let many companies to render improved and better solutions for the market. Moreover, worldwide, several governments have passed regulatory demands for safety and energy efficacy in vehicles that are propelling the commercial vehicle telematics market. Budding technologies like V2X, V2V, seamless assimilation of web and mobility, and electric vehicle charging has begun to develop owing to constant demands by consumers. One of the key factors that are fueling this industry’s market is a broad roll out of connectivity solutions like Long Term Evolution (LTE) and 3G networks rendering escalated bandwidth and thereby letting complicated telematics applications like asset tracker, remote surveillance, and health meters. In this industry’s market, LTE is predicted to eventually be the mainstream 4G technology for mobile and auto industry.

Geographical segmentation of the global market of this industry is United States, Japan, China, Europe, South Korea, and India. Key market players of the global commercial vehicle telematics market are Wireless Car, Trimble Navigation, Verizon Enterprise Solutions, Mix Telematics, Tomtom, Fleetmatics Group, Onstar, Omnitracs, Telogis, Orbcomm, Masternaut, Daimler Fleetboard, Cisco Systems, and Navman Wireless. Based on the product type, this market is segmented into aftermarket telematics and OEM telematics. The end user applications of this industry’s market on a global level are Healthcare, Automotive, Insurance, Logistics and Distribution, Government and Utilities, Media and Entertainment, and Manufacturing.

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