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The global commercial telematics market reached a value of US$ 46 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 129.3 Billion by 2027, exhibiting at a CAGR of 19.4% 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 the technological solution used for long-distance transmission of information in commercial automobiles. It is used for monitoring the location and movement of vehicles through global positioning systems (GPS) and on-board diagnostic systems to track vehicle diagnostics. It is also used for monitoring trailers and non-motorized assets and alerting the fleet manager in case of any unauthorized movement. Apart from this, commercial telematics also offers insurance risk assessment, maintenance insights and safety tracking. Insurance providers use this technology to monitor driver behavior that enables them to determine risk factors and adjust insurance policies accordingly.
Significant growth in the transportation industry across the globe is one of the key factors creating a positive impact on the market. Furthermore, the widespread adoption of smart transportation systems is stimulating the growth of the market. Due to the increasing utilization of digital devices, such as smartphones, laptops and tablets, automobile manufacturers are integrating sophisticated connectivity solutions to provide more accurate insights about the vehicles. These solutions also aid in improving vehicle efficiency, facilitating smart routing and tracking, providing on-road assistance and enhancing the driver’s overall experience. Additionally, various technological advancements, such as the development of open-source frameworks for commercial telematics, are acting as other growth-inducing factors. For instance, Next-Generation Telematics Protocol (NGTP) is a technology-neutral system that is 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, along with the development of video-based telematics, are anticipated to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global commercial telematics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, system type, provider type and end use industry.
Breakup by Type:
Breakup by System Type:
Breakup by Provider Type:
Breakup by End Use Industry:
Breakup by Region:
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. and Zonar Systems Inc. (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.
Significant growth in the transportation industry and the widespread adoption of smart transportation systems, are some of the factors driving the global commercial telematics market.
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, thereby limiting the demand for commercial telematics
Based on the type, the global commercial telematics market can be 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 has been segregated into tethered, embedded, and smartphone integrated. Among these, embedded system currently represents the largest segment.
Based on the provider type, the global commercial telematics market can be categorized into OEM and aftermarket. Currently, aftermarket exhibits a clear dominance in the market.
Based on the end use industry, the global commercial telematics market can be segmented into media and entertainment, travel and tourism, transportation and logistics, government and utilities, construction, healthcare, and others. Among these, the transportation and logistics sector currently represents the largest segment.
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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