The global commercial vehicle telematics is expected to reach USD 41.29 Billion by 2026, according to a new report by Reports and Data. Vehicle telematics systems, composed of telecommunication and informatics, provide crucial information for drivers, such as information about live traffic status and weather forecast. Essentially, it is vehicle monitoring systems that empower the drivers to stay updated with real-time performance and safety of the vehicle. Information collected by the telematics system is beneficial in critical circumstances, for instance, to communicate instantaneously with the police or respective authorities for prompt actions in case of an accident. Telematics systems assist automotive companies, insurers, and drivers with the highest safety feature.
The safety and security services of vehicle telematics comprise the automatic crash notification, emergency, and medical assistance, which is anticipated to stimulate growth in the forecast period. As a component of the Automatic Crash Notification service, the telematics control unit (TCU) monitors several crash sensors of the automotive and in the occurrence of a crash it directs the details of the vehicular location and crash intensity as well as sends a voice call to the telematics call center so that emergency services are dispatched to the accident spot.
Legislative norms and regulations introduced by the governments across the globe pertaining to the increased usage of telematics in the automotive to improve road safety. These government initiatives are projected to propel the growth in the upcoming years.
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The key questions answered in the report
Table of Content:
Chapter 1. Synopsis1.1. Definition1.2. Research Scope & Premise1.3. Methodology1.4. Estimation TechniqueChapter 2. Executive Summary2.1. Summary Snapshot, 2018-2026Chapter 3. Indicative MetricsChapter 4. Commercial Vehicle Telematics Segmentation & Impact Analysis4.1. Commercial Vehicle Telematics Material Segmentation Analysis4.2. Industrial Outlook4.2.1. indicators analysis4.2.2. drivers analysis22.214.171.124. Increasing concern for safety and security among commercial vehicle consumers126.96.36.199. Proliferation of smart devices188.8.131.52. Growing deployment of Next Generation Telematics Protocol (NGTP)184.108.40.206. Legislation pertaining to road safety and accidents4.2.3. restraints analysis220.127.116.11. Growing Security and Privacy concern4.3. Technological Insights4.4. Regulatory Framework4.5. ETOP Analysis4.6. Porter's Five Forces Analysis4.7. Competitive Metric Space Analysis4.8. Price trend Analysis…
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Further key findings from the report suggest
- By offering, fleet tracking and monitoring held the largest share in the in 2018 and is likely to grow at a rate of 18.1% in the forecast period. By utilizing fleet tracking and monitoring, businesses can gain full control of their fleet, thereby considerably reducing costs and improving productivity.
- By product type, retrofitted products contributed to a larger share in 2018.
- By provider type, aftermarket providers dominated the in 2018 and is estimated to grow at a rate of 17.8% in the forecast period.
- By vehicle type, medium & heavy commercial vehicles contributed to a larger share in 2018 and is likely to grow at a rate of 17.9% in the forecast period.
- By industrial vertical, transportation & logistics contributed to the largest share in 2018 and is expected to grow at a rate of 18.6% in the forecast period. Real-time fleet management is helpful in diverting drivers away from road delays and toward high-priority loads.
- North America dominated the in 2018 and is expected to have a CAGR of 18.4% in the forecast period. The dominance of North America is owing to rapid technological adoption and increasing demand for commercial vehicles with in-vehicle telematics.
- Key participants include Trimble Inc., Verizon Telematics Inc., PTC Inc., OCTO telematics Ltd., TomTom Telematics Bv, Omnitracs LLC, Volkswagen Commercial Vehicle, Inseego Corporation, Masternaut Ltd., and Zonar Systems Inc., among others.
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For the purpose of this report, Reports and Data have segmented the global commercial vehicle telematics on the basis of offering, product type, provider type, vehicle type, industry vertical, and region:
Offering Outlook (Revenue, USD Million; 2016-2026)
- Fleet Tracking & Monitoring
- Safety & Security
- Driver Management
- Insurance Telematics
Product Type Outlook (Revenue, USD Million; 2016-2026)
Provider Type Outlook (Revenue, USD Million; 2016-2026)
Vehicle Type Outlook (Revenue, USD Million; 2016-2026)
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
Industry Vertical Outlook (Revenue, USD Million; 2016-2026)
- Transportation & Logistics
- Travel & Tourism
- Media & Entertainment
- Government & Utilities
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
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