Commercial Telematics Market Size
MARKET OVERVIEW
The Commercial Telematics Market Size, from the recent research reports, is foreseen to grow in terms of value from USD 35 billion in 2020 to USD 96 billion by 2030 with an attractive compound annual growth rate (CAGR) of 18%. Commercial telematics is widely used for collecting and transmitting real-time information to different types of devices. The word telematics is a method or process of, by the combination of the global positioning system and on-board diagnostic system, observing the movement and location of a vehicle.
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REGIONAL ANALYSIS:
Looking at Commercial Telematics Market Size share and other details it becomes very clear that this industry is notably working in four major regions of the world that is Asia Pacific region, the North American region, the European region, and the rest of the world (the Middle East and Africa). The North American region is anticipated to dominate this market during the forecast period due to the presence of self-install onboard diagnostics devices in its developed counties such as Canada, Mexico, and America. The European region will hold the second largest market share followed by the Asia Pacific region.
The prominent players of this market are FORD MOTOR COMPANY (U.S.), BAYERISCHE MOTOREN WERKE AG (GERMANY), TOMTOM TELEMATICS BV (NETHERLANDS), AT&T INC. (U.S.), VODAFONE GROUP PLC (U.K), MICROLISE GROUP LTD. (UK), INSEEGO CORPORATION (US), VOLKSWAGEN COMMERCIAL VEHICLES (UK), TRIMBLE INC. (US), TELEFÓNICA S.A. (SPAIN), MIX TELEMATICS INTERNATIONAL LTD (SOUTH AFRICA), PTC, INC. (US), TRIMBLE INC. (US), VERIZON COMMUNICATIONS, INC. (U.S.), ZONAR SYSTEMS, INC. (US), OCTO TELEMATICS LTD. (UK), OMNITRACS LLC (US), AND HARMAN INTERNATIONAL INDUSTRIES, INC. (U.S.)
MARKET SEGMENTATION:
If we look at the latest research analysis of the Commercial Telematics Market Size, the industry can be ramified based on type, solutions, and end-user. Among all the segments of this market, the professional services segment will experience noteworthy growth during the forecast period as the rising positioning of smart technologies, rapid maintenance activities, and increasing demand for technological consulting are enhancing the demand for better professional services. The demarcation of this market into various segments is as follows:-
Based on type, it has fleet telematics, insurance telematics, vehicle telematics, and others
Based on the solutions, it has remote alarm & monitoring, navigation and location-based, V2v and V2i, infotainment, telehealth, and others.
Based on the end-user, it has media & entertainment, transportation and logistics, insurance, healthcare, government agencies, and others.
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INDUSTRY NEWS:
In May 2017, a partnership agreement was being entered into between OBS Logistics, which is a transport management software specialist, and TomTom Telematics. The main aim behind this partnership was to create, for logistics and haulage operators, a new vehicle checking solution. This new solution will aid in collecting information for the Fleet Operator Recognition Scheme (FORS) and Driver and Vehicle Standards Agency (DVSA).
In February 2017, a strategic alliance was formed between OCTO Telematics and Guidewire Software Inc. which is a US-based software provider for general insurers. As a solution partner and to create a global network for Guidewire products, OCTO Telematics joined it.
In August 2014, a full range of telematics services was provided by Vodafone Group Plc. And in the process it also acquired Cobra Automotive Technologies S.P.A. in addition to this value-added security and M2M connectivity was also provided to the insurance and automotive industry.
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