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Commercial Vehicle Telematics Market to be Driven by Upgradation of Technologies

Commercial vehicle telematics market categorizes the global market by solution as fleet tracking and monitoring, driver management, insurance telematics, safety and compliance, and V2X solutions, by service, by provider type, by vertical, and by region

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Commercial Vehicle Telematics Market to be Driven by Upgradation of Technologies

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  1. MarketsandMarkets Presents Commercial Vehicle Telematics Market worth 18.4 Billion USD by 2022 http://www.marketsandmarkets.com/Market-Reports/commercial-telematics-market-22050839.html

  2. According to a new research report "Commercial Vehicle Telematics Market by Solution (Fleet Tracking and Monitoring, Driver Management, Insurance Telematics, Safety and Compliance, and V2X Solutions), Service, Provider Type, Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the Commercial Vehicle Telematics Market size is expected to grow from USD 7.31 Billion in 2017 to USD 18.43 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.3%. Browse 81 Market Data Tables and 34 Figures spread through 148 Pages and in-depth TOC on "Commercial Vehicle Telematics“ http://www.marketsandmarkets.com/Market-Reports/commercial-telematics-market-22050839.html Early buyers will receive 10% customization on this report.

  3. The commercial vehicle telematics market size is expected to grow from USD 7.31 Billion in 2017 to USD 18.43 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.3%. The major drivers of the market include growing government mandate for deploying vehicle tracking in commercial vehicles and rising demand for smartphones supplements the adoption of telematics solutions and services. The scope of the report covers the commercial vehicle telematics market analysis by type (solutions and services), provider type, vertical, and region. The safety and compliance solutions segment is expected to grow at the highest CAGR during the forecast period owing to increasing concerns of governments across the globe for safety and compliance to avoid theft protection, accident communications and others. Various governments across the globe have passed regulations to define the driver work hours, fuel efficiency and consumption, safety policies, laws and others.

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  5. The professional services segment is expected to have the largest market share during the forecast period owing to the need of technological consulting, and continuous support and maintenance activities for the deployment of smart technologies. The OEM telematics provider type segment is expected to grow at the highest CARG during the forecast period owing to increasing trend of providing OEM-embedded telematics solutions and due to their extensive foothold in manufacturing embedded modules and strong technological leadership. As per the geographic analysis, Asia Pacific is expected to witness a highest growth in the commercial vehicle telematics market during the forecast period due to the untapped market strength, increasing awareness about driver safety and accident prevention, upcoming regulations to improve road safety, presence of leading OEM players, growing transportation and logistics industries, and advent of 4G LTE technology and smartphones.

  6. North America is expected to hold the largest market share in the commercial vehicle telematics market during the forecast period. As per the geographic analysis, North America is estimated to hold the largest market share during the forecast period. This is due to the major market share is early adoption of telematics technology for commercial vehicle in the region. North America constitutes of developed economies such as US and Canada. These countries are significantly advanced in terms of technology and its application deployments. The commercial automobile industry in US is more than a decade old. Moreover, government regulations, policies and mandates for the different application of commercial vehicle telematics is expected to drive the market growth in North America.

  7. The major restraining factor that is limiting the commercial vehicle telematics market growth is increased communication leading to security and privacy concern, which is affecting and halting the development of government projects midway. The major vendors profiled in the report include PTC, Inc. (US), Trimble Inc. (US), TomTom Telematics BV (Netherlands), Verizon Telematics, Inc. (US), MiX Telematics International (Pty) Ltd (South Africa), Zonar Systems, Inc. (US), Octo Telematics Ltd. (UK), Omnitracs, LLC (US), Masternaut Limited (UK), Microlise Limited (UK), Inseego Corporation (US), and Volkwagen Commercial Vehicles (UK).

  8. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

  9. Contact Us Contact: Mr. Rohan MarketsandMarkets™ 701 Pike Street Suite 2175, Seattle, WA 98101, United States Tel: 1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

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