Global Commercial Telematics Market Size study & Forecast, by Solution Type (Automotive OEM Services and Aftermarket Telematics), by Application (Solutions and Services), by End-User (Transportation & Logistics, Insurance, Healthcare, Media & Entertainmen

Global Commercial Telematics Market Size study & Forecast, by Solution Type (Automotive OEM Services and Aftermarket Telematics), by Application (Solutions and Services), by End-User (Transportation & Logistics, Insurance, Healthcare, Media & Entertainment, Vehicle Manufacturers & Dealers and Government Agencies) and Regional Analysis, 2022-2029

Global Commercial Telematics Market is valued at approximately USD 19.20 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.3% over the forecast period 2022-2029. Commercial Telematics refers to automotive communication and information technologies intended for fleet and commercial trucks segment. Commercial telematics comprised of different components including GPS receiver, sensors, onboard diagnostics systems and sim card for data sharing, and camera setup, fleet communication services, buzzer and accelerometer among others. The commercial telematics system uses an onboard modem to send data to the company’s central server facility. Telematics system provides insights related to location, vehicle usage, maintenance issues, fuel consumption, idling time, and instances of harsh driving etc. The increasing expansion of logistics & transportation sector and growing penetration of e-commerce services as well as recent strategic initiatives from leading market players are factors driving the market growth.

The rapid expansion of logistics and transportation sector is contributing to the growth of the Global Commercial Telematics Market. For instance, according to Statista – in 2020, the global logistics industry was valued at USD 5.56 trillion, and, by the year 2024 the logistics industry is projected to exceed USD 6.60 trillion. Moreover, the surging expansion of e-commerce services is another factor driving the market growth. For instance, as per India Brand Equity Foundation (IBEF) estimates – in 2021, the Indian e-commerce market was valued at USD 74.8 billion, and the market is projected to reach USD 111 billion by 2024 and further USD 200 billion by 2026. Also, increasing investment in multimodal logistics infrastructure and favorable initiatives from government authorities to promote safe transportation would create a lucrative growth prospectus for the market over the forecast period. However, factors such as timely maintenance, high deployment cost and frequent changes in regulatory & compliance policies impede the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Commercial Telematics Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to growing expansion of logistics sector and presence of leading market players coupled with availability of required technological infrastructure in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising investment from authorities in logistics sector, and increasing penetration of direct to consumer (D2C) brands coupled with growing emergence of e-commerce platforms in the region.

Major market players included in this report are:
Cartrack
Daimler Fleetboard Gmbh
Fleet Complete
Geotab Inc.
Microlise
Masternaut Limited
Mix Telematics
Navistar, Inc
Omnitracs
Tomtom International Bv.


Recent Developments in the Market:
 In June 2020, Ford Commercial Solutions, a division of USA based Ford Motors launched Ford TelematicsTM, a web-based software platform and subscription service intended for commercial vehicle customers. The new suite comes with Ford Telematics Drive mobile app and is compatible with both iOS and Android devices.


Global Commercial Telematics Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Solution Type, Application, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:

By Solution Type
Automotive OEM Services
Aftermarket Telematics

By Application
Solutions
Services

By End-User
Transportation & Logistics
Insurance
Healthcare
Media & Entertainment
Vehicle Manufacturers & Dealers
Government Agencies)


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Cartrack
Daimler Fleetboard Gmbh
Fleet Complete
Geotab Inc.
Microlise
Masternaut Limited
Mix Telematics
Navistar, Inc
Omnitracs
Tomtom International Bv.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.