United States Commercial Telematics Market to Reach US$ 58.1 Billion by 2032, Stimulated by Expanding Transportation Sector

June 23, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled “United States Commercial Telematics Market Report by Type (Solution, Services), System Type (Embedded, Tethered, Smartphone Integrated), Provider Type (OEM, Aftermarket), End Use Industry (Transportation and Logistics, Media and Entertainment, Government and Utilities, Travel and Tourism, Construction, Healthcare, and Others), and Region 2024-2032,” the United States commercial telematics market size reached US$ 19.0 Billion in 2023. Commercial telematics refers to the integration of telecommunications and information technology within commercial vehicles to enable efficient and effective management of various aspects of fleet operations. It involves the use of advanced technologies such as GPS, wireless communication, and data analytics to gather and transmit real-time information about vehicles. These systems provide valuable insights and control over a range of critical factors, including vehicle location, fuel consumption, driver behavior, maintenance schedules, and overall fleet performance. These systems also help companies to track and monitor their vehicles in real-time, enabling them to make informed decisions and streamline their operations. Besides, this technology enables proactive maintenance scheduling, reducing vehicle downtime and extending its lifespan. As a result, it is commonly used in commercial vehicles, including cargo vans, tractor-trailers, buses, and heavy construction equipment, to gain real-time data.

United States Commercial Telematics Market Trends:

Significant expansion of the transport industry is driving the market in the United States. Moreover, the increasing demand for fleet management solutions to improve operational efficiency, reduce costs, and comply with regulatory requirements is fuelling the market. Besides, with the growing complexity of managing large fleets, businesses are increasingly recognizing the need for effective fleet management solutions. Furthermore, ongoing advancements in communication technology, such as the widespread availability of high-speed internet connectivity and the development of wireless networks, enable seamless transmission of data from vehicles to central monitoring systems, facilitating real-time tracking, analytics, and communication. This is creating a positive market outlook. Apart from this, the rising environmental regulations aimed at reducing emissions and promoting fuel efficiency are further supporting the adoption of telematics to monitor and optimize vehicle performance. Moreover, the shifting preference towards sustainable transportation and the adoption of electric and hybrid vehicles (H/EVs) are propelling the market. Along with this, the implementation of favorable government policies to mandate commercial vehicle tracking, in confluence with the development of video-based telematics, is influencing the overall sales of commercial telematics. Looking forward, the market value is projected to reach US$ 58.1 Billion by 2032, expanding at a CAGR of 12.83% during 2024-2032.  

Market Summary:

  • Based on the type, the market has been segmented into solution (fleet tracking and monitoring, driver management, insurance telematics, safety, and compliance, v2x solutions, and others), and services (professional services and managed services).
  • On the basis of the system type, the market has been divided into embedded, tethered, and smartphone integrated.
  • Based on the provider type, the market has been categorized into OEM and aftermarket.
  • On the basis of the end use industry, the market has been segmented into transportation and logistics, media and entertainment, government and utilities, travel and tourism, construction, healthcare, and others.
  • Region-wise, the market has been segmented into Northeast, Midwest, South, and West.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, System Type, Provider Type, End Use Industry, Region
Region Covered Northeast, Midwest, South, West
Customization Scope 10% Free Customization
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United States Commercial Telematics Market to Reach US$ 58.1 Billion by 2032, Stimulated by Expanding Transportation Sector
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