rockyrai78908What are the growth prospects of the commercial telematics industry?
The global commercial telematics market size reached US$ 54.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 152.1 Billion by 2028, exhibiting a growth rate (CAGR) of 19.2% during 2023-2028.
What is telematics?
Commercial telematics refers to a technological solution that is primarily adopted for long-distance communication and transmission of information in commercial automobiles. It is utilized for monitoring vehicle location and movement through global positioning systems (GPS) along with tracking automobile diagnostics via onboard diagnostic systems. Commercial telematics also offers maintenance insights, safety tracking, insurance risk assessment, etc. Owing to this, numerous insurance providers are adopting commercial telematics to monitor driver behavior for analyzing risk factors and adjusting insurance policies accordingly.
Request Free Sample Report: https://www.imarcgroup.com/commercial-telematics-market/requestsample
What are the major market drivers in the commercial telematics market?
A significant growth in the transportation sector, along with the rising adoption of smart transportation systems, is primarily stimulating the market growth. Moreover, the growing deployment of digital devices, such as smartphones, tablets, laptops, etc., has led to the incorporation of advanced connectivity solutions by manufacturers. These solutions provide more accurate insights, enhance vehicle efficiency, and enable smart routing and tracking, thereby further improving the overall driving experience.
Additionally, the introduction of open-source frameworks and other technology-neutral systems for integrating back-end components and technical adjustments in commercial vehicles is also propelling the global market. Moreover, the implementation of various government policies mandating commercial vehicle tracking, along with the advent of video-based telematics, are further expected to bolster the market growth in the coming years.
Global Commercial Telematics Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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.
- Zonar Systems Inc. (Continental AG).
The report has segmented the market on the basis on region, type, system type, provider type and end use industry.
Breakup by Type:
- Solution
- Fleet Tracking and Monitoring
- Driver Management
- Insurance Telematics
- Safety and Compliance
- V2X Solutions
- Others
- Services
- Professional services
- Managed services
Breakup by System Type:
- Embedded
- Tethered
- Smartphone Integrated
Breakup by Provider Type:
- OEM
- Aftermarket
Breakup by End-Use Industry:
- Transportation and Logistics
- Media and Entertainment
- Government and Utilities
- Travel and Tourism
- Construction
- Healthcare
- Others
Breakup by Region:
- North America: (United States, Canada0
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa:(South Africa, Turkey, Saudi Arabia, Others
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/commercial-telematics-market
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: [email protected]
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
