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The global commercial telematics market size reached US$ 46.00 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 129.32 Billion by 2027, exhibiting a CAGR of 19.40% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Commercial telematics refers to a technological solution used to monitor a wide range of information about a vehicle or an entire fleet. It assists in monitoring deliveries, determining routes, improving vehicle efficiency, communicating with drivers, and detecting vehicle maintenance requirements. It offers transparency in operations, improves accountability and safety, enhances productivity and overall operational efficiency, and boosts route planning and fleet optimization for better performance.As a result, it is commonly used in commercial vehicles, including cargo vans, tractor-trailers, and buses, and heavy construction equipmentto gain real-time data.
Increasing sales of commercial and passenger vehicles, coupled with rising concerns about the safety and security of the drivers and passengers, represents one of the major factors positively influencing the demand for commercial telematics worldwide. In addition, commercial telematics is widely employed in the construction industry to reducethe fuel consumption of heavy construction equipment and machinery on-site. This, in confluence with the growing construction activities worldwide on account of rapid urbanization, improving income levels, and expanding global population, is creating a positive outlook for the market. Apart from this, the integration of the internet of things (IoT) and fifth-generation (5G) technology supports the faster transfer of high-quality content,facilitates smart routing and tracking, provides on-road assistance,and enhances the experience of the users.This, along with the implementation of favorable government policies to mandate commercial vehicle tracking and the development of video-based telematics, is anticipated to provide a positive thrust to the market in the upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global commercial telematics market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type, system type, provider type and end use industry.
Breakup by Type:
Solution dominates the market as it comes with multiple advanced features that optimize the analysis of connected vehicles effortlessly.
Breakup by System Type:
The embedded represents the largest system typeas it allows vehicles to connect to the internet.
Breakup by Provider Type:
Aftermarket holds the total market share of commercial telematics as it offers the advantages of customization, flexibility, data transparency, and cost optimization.
Breakup by End Use Industry:
Transportation and logistics exhibit a clear dominance in the market due to expanding global trade activities and the rising demand for fleet management solutions.
Breakup by Region:
North America holds the majority of the global commercial telematics market share due to the rising focus on improving passenger and driver safety in the region.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are AirIQ Inc., Bridgestone Corporation, General Motors Company (GM), Geotab Inc.,Michelin Group, MiX Telematics International (Pty) Ltd, Octo Telematics S.p.A., Omnitracs, LLC, Trimble Inc., Bell Atlantic Corporation, and Continental AG.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, System Type, Provider Type, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Turkey, Saudi Arabia, South Africa|
|Companies Covered||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)|
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The global commercial telematics market was valued at US$ 46 Billion in 2021.
We expect the global commercial telematics market to exhibit a CAGR of 19.4% during 2022-2027.
The expanding transportation industry, along with the widespread adoption of smart transportation
systems, including commercial telematics, to provide accurate insights about the vehicles, is currently
driving the global commercial telematics market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary halt in the transportation activities, which in
turn, is limiting the demand for commercial telematics.
Based on the type, the global commercial telematics market has been segmented into services and
solution. Currently, solution holds the majority of the total market share.
Based on the system type, the global commercial telematics market can be divided into embedded,
tethered, and smartphone integrated. Among these, embedded system exhibits a clear dominance in
Based on the provider type, the global commercial telematics market has been categorized into OEM
and aftermarket. Currently, aftermarket accounts for the majority of the global market share.
Based on the end use industry, the global commercial telematics market can be segregated into
transportation and logistics, media and entertainment, government and utilities, travel and tourism,
construction, healthcare, and others. Among these, the transportation and logistics sector holds the
largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global commercial telematics market include 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).
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