How big is the commercial vehicle telematics market?
In the current years, the
worldwide commercial
vehicle telematics market size anticipates a larger market than it did
throughout the previous projected era. The growth rate that was observed at the
time this forecast was made is 18.5% CAGR.
One approach to tracking the
movement and location of vehicles is telematics. It makes ideal use of a
combination technology that combines GPS with an on-board diagnostic system.
Advanced telematics records and transmits car data using wireless devices and
the black box concept. It provides details on things like speed, service
requirements, and maintenance requirements. Additionally, this system compares
the data with your car's internal behavior.
The software operates with one
another by connecting to the telematics devices installed within a vehicle. It
includes GPS technology, mobile applications, sensors, GPS technology, vehicle
engine diagnostics solutions, dash cams, etc. The global commercial vehicle
telematics market refers to the solutions and services adopted to control and
monitor the commercial vehicle using a specific device. The information gets
exchanged between the central authority and the commercial vehicle fleet, which
helps them determine which vehicle needs maintenance or service assistance
during the fleet.
The report is a brief
understanding of how the global commercial vehicle telematics market is growing
at a constant pace. The report sheds its light on market segmentation, which is
a general description of different elements that make this a successful
industry. Apart from that, this report also highlights the regional analysis
with information on which region has the maximum domination over the entire
industry. All of these factors collectively determine the high rise in market
size for the commercial vehicle telematics industry.
Market Segmentation
Based on the type segmentation,
the global commercial vehicle telematics market is categorized into different
offerings, such as solutions and services.
Based on the provider type
segmentation, the global commercial vehicle telematics market is offered to the
end-users through aftermarket or OEM providers.
Based on the end-user or
vertical segmentation, the global commercial vehicle telematics market is being
adapted by several sectors. The verticals or end-users include Government &
Utilities, Transportation & Logistics, Travel & Tourism, Education, Healthcare,
Construction and others.
Regional Classification
The regional spread of the
global commercial vehicle telematics market has given growth potential to key players all
across the globe. The regions where this industry is performing to the best of
its potential are North America, Asia Pacific and Europe. The other parts of
the world are also contributing to the collective revenue generation of this
market.
The Asia Pacific is expected to
generate the highest demand peak in the present forecast years. As a result, it
will dominate all of the other regions of the world in terms of growth and
revenue. The key players across other regions are also putting up collective
effort to set up the market on a thriving stage.
Industry News
Trimble Inc. is a reputed
company and a key player in the commercial vehicle telematics industry. In
March 2022, they tied up with Qualcomm to introduce the accuracy of meter-level
location, especially for smartphones.
Key Players
·
PTC Inc.
·
Trimble Inc.
·
TomTom Telematics BV
·
Verizon Telematics Inc.
·
Mix Telematics
International (PTY) Ltd.
·
Zonar Systems Inc.
·
OCTO Telematics Ltd.
·
Omnitracs LLC
Segmentation
By Type
·
Solutions
·
Services
By Provider Type
·
Oem
·
Aftermarket
By Vertical
·
Transportation &
Logistics
·
Government &
Utilities
·
Travel & Tourism
·
Construction
·
Education
·
Healthcare
·
Others
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