According to the recent report by IMARC Group, titled “Commercial Telematics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global commercial telematics market size reached around US$ 40.3 Billion in 2020 and expected to exhibit strong growth during the next five years.
Commercial telematics refers to a technological solution that is primarily adopted for long-distance communication and transmission of information in commercial automobiles. It is utilized for monitoring vehicle location and movement through global positioning systems (GPS) along with tracking automobile diagnostics via onboard diagnostic systems. Commercial telematics also offers maintenance insights, safety tracking, insurance risk assessment, etc. Owing to this, numerous insurance providers are adopting commercial telematics to monitor driver behavior for analyzing risk factors and adjusting insurance policies accordingly.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Commercial Telematics Market Trends:
A significant growth in the transportation sector, along with the rising adoption of smart transportation systems, is primarily stimulating the market growth. Moreover, the growing deployment of digital devices, such as smartphones, tablets, laptops, etc., has led to the incorporation of advanced connectivity solutions by manufacturers. These solutions provide more accurate insights, enhance vehicle efficiency, and enable smart routing and tracking, thereby further improving the overall driving experience. Additionally, the introduction of open-source frameworks and other technology-neutral systems for integrating back-end components and technical adjustments in commercial vehicles is also propelling the global market. Moreover, the implementation of various government policies mandating commercial vehicle tracking, along with the advent of video-based telematics, are further expected to bolster the market growth in the coming years.
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Global Commercial Telematics Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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. and Zonar Systems Inc. (Continental AG).
The report has segmented the market on the basis on region, type, system type, provider type and end use industry.
Breakup by Type:
- Solution
- Fleet Tracking and Monitoring
- Driver Management
- Insurance Telematics
- Safety and Compliance
- V2X Solutions
- Others
- Services
- Professional services
- Managed services
Breakup by System Type:
- Embedded
- Tethered
- Smartphone Integrated
Breakup by Provider Type:
Breakup by End Use Industry:
- Transportation and Logistics
- Media and Entertainment
- Government and Utilities
- Travel and Tourism
- Construction
- Healthcare
- Others
Breakup by Region:
-
- North America: (United States, Canada0
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa:(South Africa, Turkey, Saudi Arabia, Others
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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