DUBLIN, February 24, 2022 /PRNewswire/ — The “Commercial Telematics Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” report has been added to from ResearchAndMarkets.com offer.
The global commercial telematics market reached a value of 46 billion US dollars in 2021. Going forward, the market is expected to reach US$129.3 billion by 2027, posting a CAGR of 19.4% over the period 2022-2027.
Keeping in mind the uncertainties of COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic on the various end-use industries. This information is included in the report as a major market contributor.
Significant growth in the transportation industry across the globe is one of the key factors creating a positive impact on the market. Additionally, the widespread adoption of intelligent transportation systems is driving the growth of the market. Due to the increasing use of digital devices, such as smartphones, laptops and tablets, automakers are integrating sophisticated connectivity solutions to provide more accurate vehicle information. These solutions also help improve vehicle efficiency, facilitate intelligent routing and tracking, provide on-road assistance and improve the overall driver experience.
Additionally, various technological advancements, such as the development of open source frameworks for business telematics, act as other growth factors. For example, the Next Generation Telematics Protocol (NGTP) is a technology-neutral system designed to conveniently integrate back-end components and make technical adjustments in commercial vehicles.
Other factors, including the implementation of favorable government policies to mandate commercial vehicle tracking, as well as the development of video-based telematics, are expected to further drive the market.
Key market segmentation
This report provides an analysis of the main trends in each sub-segment of the global commercial telematics market, as well as forecasts at the global, regional and country levels from 2022 to 2027. The report has categorized the market based on type, type system, vendor type and end-use industry.
Breakdown by type:
- Fleet tracking and monitoring
- Driver management
- Insurance telematics
- Security and compliance
- V2X Solutions
- Professional services
- Managed Services
Breakdown by type of system:
- Built-in smart phone
Breakdown by type of supplier:
Breakdown by end-use industry:
- Transport and logistics
- Media and Entertainment
- Government and public services
- travel and tourism
- Health care
Breakdown by region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being:
- AirIQ Inc.
- Bridgestone Corporation
- General Motors Company
- Geotab Inc.
- Masternaut Limited. (Michelin)
- Mix Telematics International (Pty) Ltd.
- Octo Telematics
- Omnitracs LLC
- Trimble Inc.
- Verizon Communications Inc.
- Zonar Systems Inc. (Continental AG)
Key questions answered by this report
1. What is the size of the global commercial telematics market?
2. What are the key factors driving the global commercial telematics market?
3. What has been the impact of COVID-19 on the Global Business Telematics Market?
4. What is the global business telematics market split based on type?
5. What is the global business telematics market split based on system type?
6. What is the global business telematics market split based on vendor type?
7. What is the breakdown of the global commercial telematics market based on end-use industry?
8. Which are the key regions of the global business telematics market?
9. Who are the key players/companies in the Global Business Telematics Market?
For more information on this report, visit https://www.researchandmarkets.com/r/tmrq5q
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