Commercial Vehicle Telematics Market Overview
The global commercial vehicle telematics market predicts market size to be higher than the previous forecast period in the present years. The growth rate recorded for putting up this prediction is at a CAGR of 18.5%.
Telematics is one form of methodology to seek monitoring vehicle movement and location measures. It uses a combined technology that has GPS and On-boards diagnostic system in perfect utilization. Advanced telematics uses wireless devices and the black box concept for recording & transmitting vehicle data. It gives out information such as maintenance requirements, speed, and servicing needs. Moreover, this technology also cross-references the data with the internal behavior of your vehicle. In short, it is vehicle software that combines the telecommunication feature with that of informatics for helping all the transport businesses to monitor & manage their commercial vehicles.
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The software operates with one another by connecting to the telematics devices installed within a vehicle. It includes GPS technology, mobile applications, sensors, GPS technology, vehicle engine diagnostics solutions, dash cams, etc. The global commercial vehicle telematics market refers to the solutions and services adopted to control and monitor the commercial vehicle using a specific device. The information gets exchanged between the central authority and the commercial vehicle fleet, which helps them determine which vehicle needs maintenance or service assistance during the fleet.
The report is a brief understanding of how the global commercial vehicle telematics market is growing at a constant pace. The report sheds its light on market segmentation, which is a general description of different elements that make this a successful industry. Apart from that, this report also highlights the regional analysis with information on which region has the maximum domination over the entire industry. All of these factors collectively determine the high rise in market size for the commercial vehicle telematics industry.
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Commercial Vehicle Telematics Market Segmentation
Based on the type segmentation, the global commercial vehicle telematics market is categorized into different offerings, such as solutions and services.
Based on the provider type segmentation, the global commercial vehicle telematics market is offered to the end-users through aftermarket or OEM providers.
Based on the end-user or vertical segmentation, the global commercial vehicle telematics market is being adapted by several sectors. The verticals or end-users include Government & Utilities, Transportation & Logistics, Travel & Tourism, Education, Healthcare, Construction and others.
Commercial Vehicle Telematics Market Regional Classification
The regional spread of the global commercial vehicle telematics market has given growth potential to key players all across the globe. The regions where this industry is performing to the best of its potential are North America, Asia Pacific and Europe. The other parts of the world are also contributing to the collective revenue generation of this market.
The Asia Pacific is expected to generate the highest demand peak in the present forecast years. As a result, it will dominate all of the other regions of the world in terms of growth and revenue. The key players across other regions are also putting up collective effort to set up the market on a thriving stage.
Commercial Vehicle Telematics Industry News
Trimble Inc. is a reputed company and a key player in the commercial vehicle telematics industry. In March 2022, they tied up with Qualcomm to introduce the accuracy of meter-level location, especially for smartphones.
Commercial Vehicle Telematics Market Key Players
· PTC Inc.
· Trimble Inc.
· TomTom Telematics BV
· Verizon Telematics Inc.
· Mix Telematics International (PTY) Ltd.
· Zonar Systems Inc.
· OCTO Telematics Ltd.
· Omnitracs LLC
· Masternaut Limited
· Microlise Group Ltd
Commercial Vehicle Telematics Market Segmentation
By Type
· Solutions
· Services
By Provider Type
· Oem
· Aftermarket
By Vertical
· Transportation & Logistics
· Government & Utilities
· Travel & Tourism
· Construction
· Education
· Healthcare
· Others
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