Development in telematics along with connected vehicles are increasing the demand for automotive telematics market. Telematics has become an ideal differentiator for car manufacturers, due to some advancements such as anti-theft tracking, automatic emergency call device, and GPS anti-theft devices. These factors altogether boosting the demand of automotive telematics market. A newly compiled market research report from IndustryARC says that the global commercial automotive market to be valued at $31.46 billion by 2023. It is set to grow at a CAGR of 7.2% over the forecast period 2018-2023.
The global commercial automotive telematics market report contains the competitive landscape, market drivers, market trends, and strategic analysis of both commercial telematics and automotive telematics market. “Commercial Automotive Telematics Market: By Vehicle Type (Truck, Semi-Trailer, Motor Coach, Taxicab, Trailers & Others); By Components (Communication, Sensors, Control Unit, Audio/Video); By Services (Safety & Security, Navigation, Others); By Geography – Forecast (2019-2025).”
Commercial Automotive Telematics Market: Leading Segments
American commercial automotive telematics market occupied 46% of the global market share in 2017 due to the growing demand for connected cars with safety and security systems. Autonomous cars are propelling the widespread of vehicle telematics in the U.S. Escalating penetration of connected devices such as tablets and smartphones are attributing to the rising demand of connected cars in this region. Additionally, increasing concerns regarding the safety and security features in the automotive industry are also contributing to the growth of U.S. commercial Automotive Telematics Market.
Among a wide variety of components, communication devices are identified as the fastest growing component, set to grow with a CAGR of 7.9% throughout the aforesaid foreseen period. Majority of the automotive OEMs install these devices in their vehicles, as it increases the transparency between car owners and their cars, and between the car owners and service workshops. Bluetooth, cellular, radio, Wi-Fi, satellite are varied communication technologies chosen for infotainment, safety, and navigation applications in the vehicle.
Commercial Automotive Telematics Market: Disruptive Trends
- Government Regulations
North American and European government have declared tax credits for telematics customers, particularly in fleet management and insurance sector. Another compulsory act by European government makes inbuilt emergency services compulsory in vehicles. These regulations are directing the automobile manufacturers to produce commercial vehicles with inbuilt telematics systems.
- Decline in Costs
Technological advancements paralleled with the modernization of the world, resulting in a drop in the cost of telematics. Currently, various companies are offering customized telematics solutions at a cheaper price.
- Recovery of the Automobile Market
The rise in unit sales of the automotive industry is driving the sales of telematics. It is mainly owing to enhanced economic conditions in the U.S., and Europe. New commercial vehicle models in Europe are fixed with telematics functions, impacted by changing government regulations.
- Fleet Management Market
Increasing demand for operational efficiencies coupled with the decreased price of telematics hardware systems is driving the growth and acceptance of fleet management telematics. Increased number of fleet management telematics installations are observed across logistics and fleet management companies.
Commercial Automotive Telematics Market: Competitive Landscape
CalAmp, Fleetmatics, Bosch, Descartes, and Trimble are the most prominent market strategic players, which are operating with larger market shares in the global commercial automotive telematics market.
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A. Indian Commercial Telematics Market
What can you expect from the report?
The Commercial Automotive Telematics Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Commercial Automotive Telematics Market Size by Product Categories & Application
2. Commercial Automotive Telematics Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Commercial Automotive Telematics Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Commercial Automotive Telematics Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Commercial Automotive Telematics Market Strategic Analysis
18. Commercial Automotive Telematics Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Commercial Automotive Telematics Market Revenue and Volume Analysis
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