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Commercial Telematics Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Sep 01, 2024
Length 200 Pages
SKU # FOB19185669

Description

Commercial Telematics Market



Growth Factors of Commercial Telematics Market

The commercial telematics market size was valued at USD 57.56 billion in 2023, and the market is now projected to grow from USD 70.13 billion in 2024 to USD 372.33 billion by 2032, exhibiting a CAGR of 23.2% during the forecast period of 2024-2032.

The pandemic keeps to have a power on the automobile zone. Government rules have caused delivery chain disruptions. Market growth has been negatively impacted by means of supply chain instability and decreased call for inside the fleet management and transportation industries. The COVID has caused an upward push in call for utilization-based coverage, resulting in positive commercial telematics market growth.

Usage-based insurance offers a coverage premium that is without delay related to automobile utilization. Insurance corporations use telematics devices to reveal automobile usage in real-time and regulate rates as a result. Adoption of utilization-based coverage (UBI) in developed economies is projected to pressure future industry increase. The pandemic has disrupted supply chains and curtailed worldwide transportation and fleet pastime. Fleet owners are transitioning from traditional coverage to UBI plans for benefits, leading to multiplied demand for telematics systems.

Commercial telematics is revolutionizing the way businesses and organizations organize their fleets. Telematics device advantages scale with industry adoption rate. Connected cars, which have advanced systems and sensors that link to the internet and cloud services, are projected to drive development in the trucking and fleet industries. Furthermore, their ability to give real-time information makes them ideal for telematics applications.

Comprehensive Analysis of Commercial Telematics Market

The marketplace for aftermarket telematics in 2023 is segmented into OEM and aftermarket, with the aftermarket phase keeping the biggest marketplace proportion because of rising demand for navigation and infotainment offerings. Strategic partnerships among car manufacturers and telematics carrier providers are predicted to accelerate growth. Targa Telematics, a tech firm focusing on IoT solutions, partnered with BMW to integrate data from BMW and MINI vehicles, ensuring GDPR compliance and reducing aftermarket hardware installation logistics. The solution segment accounted for the largest market share, with strong telematics solutions providers and the growing popularity of 5G ready solutions. The end-users include transportation & logistics, insurers, healthcare, media and entertainment, vehicle manufacturers/dealers, and government agencies.

The North America region lead the commercial telematics market share by benefitting a market size of USD 18.19 billion in 2023 due to North America has the biggest market penetration among other areas. The North American market has already developed. The market is supported by established vendors of telematics systems, like Verizon Connect and Omnitracs. Additionally, the rapid adoption of connected commercial vehicles and electromobility drives market development.

The market for telematics solutions is consolidating, with fundamental gamers like Geotab Inc., Trimble Inc., TomTom Telematics BV, Verizon Telematics, Volkswagen Commercial Vehicles, and Continental AG forming key gamers. Samsung and Harman International are introducing new 5G prepared telematics products to capitalize on early possibilities. Automakers are partnering with telematics solutions providers to equip new models with pre-installed devices and enhance connectivity. Verizon Connect, a leading provider, has led the market due to its recent acquisition of Movildata Internacional.

Geotab and Daimler Truck North America (DTNA) formed a partnership in February 2024 to improve fleet management. DTNA's DaaS generation integrates Freightliner truck information with Geotab's MyGeotab platform, supplying fleets with consolidated records for improved decision-making. This incorporated machine improves protection, operations, and sustainability without requiring any extra hardware.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 23.2% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Solution Type

- OEM

- Aftermarket

By Application

- Solutions

- Services

By End-User

- Transportation & Logistics

- Insurers

- Healthcare

- Media and Entertainment

- Vehicle Manufacturers/Dealers

- Government Agencies.

By Geography

- North America (By Solution Type, By Application, and By End-User)
  • U.S. (By Application)
  • Canada (By Application)
  • Mexico (By Application)
- Europe (By Solution Type, By Application, and By End-User)
  • U.K. (By Application)
  • Germany (By Application)
  • Italy (By Application)
  • Rest of Europe (By Application)
- Asia Pacific (By Solution Type, By Application, and By End-User)
  • China (By Application)
  • India (By Application)
  • Japan (By Application)
  • South Korea (By Application)
  • Rest of Asia Pacific (By Application)
- Rest of the World(By Solution Type, By Application, and By End-User)


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Table of Contents

200 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Key Insights
4.1. Key Industry Developments - Mergers, Acquisitions & Partnerships
4.2. Latest Technological Advancements
4.3. Porters Five Forces Analysis
4.4. Patent Analysis
4.5. Impact of COVID-19 Pandemic on Global Commercial TelematicsMarket
5. Global Commercial TelematicsMarket Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Definition
5.2. Market Analysis, Insights and Forecast - By Solution Type
5.2.1. OEM
5.2.2. Aftermarket
5.3. Market Analysis, Insights and Forecast - By Application
5.3.1. Solutions
5.3.2. Services
5.4. Market Analysis, Insights and Forecast - By End-User
5.4.1. Transportation & Logistics
5.4.2. Insurers
5.4.3. Healthcare
5.4.4. Media and Entertainment
5.4.5. Vehicle Manufacturers/Dealers
5.4.6. Government Agencies
5.5. Market Analysis, Insights and Forecast - By Region
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. Rest of the World
6. North America Commercial TelematicsMarket Analysis, Insights and Forecast, 2019-2032
6.1. Market Analysis, Insights and Forecast - By Solution Type
6.1.1. OEM
6.1.2. Aftermarket
6.2. Market Analysis, Insights and Forecast - By Application
6.2.1. Solutions
6.2.2. Services
6.3. Market Analysis, Insights and Forecast - By End-User
6.3.1. Transportation & Logistics
6.3.2. Insurers
6.3.3. Healthcare
6.3.4. Media and Entertainment
6.3.5. Vehicle Manufacturers/Dealers
6.3.6. Government Agencies
6.4. Market Analysis, Insights and Forecast - By Country
6.4.1. U.S.
6.4.1.1. Market Analysis, Insights and Forecast - By Application
6.4.2. Canada
6.4.2.1. Market Analysis, Insights and Forecast - By Application
6.4.3. Mexico
6.4.3.1. Market Analysis, Insights and Forecast - By Application
7. Europe Commercial TelematicsMarket Analysis, Insights and Forecast, 2019-2032
7.1. Market Analysis, Insights and Forecast - By Solution Type
7.1.1. OEM
7.1.2. Aftermarket
7.2. Market Analysis, Insights and Forecast - By Application
7.2.1. Solutions
7.2.2. Services
7.3. Market Analysis, Insights and Forecast - By End-User
7.3.1. Transportation & Logistics
7.3.2. Insurers
7.3.3. Healthcare
7.3.4. Media and Entertainment
7.3.5. Vehicle Manufacturers/Dealers
7.3.6. Government Agencies
7.4. Market Analysis, Insights and Forecast - By Country
7.4.1. U.K.
7.4.1.1. Market Analysis, Insights and Forecast - By Application
7.4.2. Germany
7.4.2.1. Market Analysis, Insights and Forecast - By Application
7.4.3. France
7.4.3.1. Market Analysis, Insights and Forecast - By Application
7.4.4. Rest of Europe
7.4.4.1. Market Analysis, Insights and Forecast - By Application
8. Asia Pacific Commercial TelematicsMarket Analysis, Insights and Forecast, 2019-2032
8.1. Market Analysis, Insights and Forecast - By Solution Type
8.1.1. OEM
8.1.2. Aftermarket
8.2. Market Analysis, Insights and Forecast - By Application
8.2.1. Solutions
8.2.2. Services
8.3. Market Analysis, Insights and Forecast - By End-User
8.3.1. Transportation & Logistics
8.3.2. Insurers
8.3.3. Healthcare
8.3.4. Media and Entertainment
8.3.5. Vehicle Manufacturers/Dealers
8.3.6. Government Agencies
8.4. Market Analysis, Insights and Forecast - By Country
8.4.1. China
8.4.1.1. Market Analysis, Insights and Forecast - By Application
8.4.2. Japan
8.4.2.1. Market Analysis, Insights and Forecast - By Application
8.4.3. India
8.4.3.1. Market Analysis, Insights and Forecast - By Application
8.4.4. South Korea
8.4.4.1. Market Analysis, Insights and Forecast - By Application
8.4.5. Rest of Asia Pacific
8.4.5.1. Market Analysis, Insights and Forecast - By Application
9. Rest of the World Commercial TelematicsMarket Analysis, Insights and Forecast, 2019-2032
9.1. Market Analysis, Insights and Forecast - By Solution Type
9.1.1. OEM
9.1.2. Aftermarket
9.2. Market Analysis, Insights and Forecast - By Application
9.2.1. Solutions
9.2.2. Services
9.3. Market Analysis, Insights and Forecast - By End-User
9.3.1. Transportation & Logistics
9.3.2. Insurers
9.3.3. Healthcare
9.3.4. Media and Entertainment
9.3.5. Vehicle Manufacturers/Dealers
9.3.6. Government Agencies
10. Competitive Analysis
10.1. Key Industry Developments
10.2. Global Market Rank Analysis (2023)
10.3. Competitive Dashboard
10.4. Comparative Analysis - Major Players
10.5. Company Profiles
10.5.1. Geotab Inc. (Oakville, Canada)
10.5.1.1. Overview
10.5.1.2. Products & Services
10.5.1.3. SWOT Analysis
10.5.1.4. Recent Developments
10.5.1.5. Strategies
10.5.1.6. Financials (Based on Availability)
10.5.2. Trimble Inc. (U.S.)
10.5.2.1. Overview
10.5.2.2. Products & Services
10.5.2.3. SWOT Analysis
10.5.2.4. Recent Developments
10.5.2.5. Strategies
10.5.2.6. Financials (Based on Availability)
10.5.3. TomTom Telematics BV (Netherlands)
10.5.3.1. Overview
10.5.3.2. Products & Services
10.5.3.3. SWOT Analysis
10.5.3.4. Recent Developments
10.5.3.5. Strategies
10.5.3.6. Financials (Based on Availability)
10.5.4. Verizon Telematics, Inc. (U.S.)
10.5.4.1. Overview
10.5.4.2. Products & Services
10.5.4.3. SWOT Analysis
10.5.4.4. Recent Developments
10.5.4.5. Strategies
10.5.4.6. Financials (Based on Availability)
10.5.5. Mix Telematics International (Pty) Ltd (South Africa)
10.5.5.1. Overview
10.5.5.2. Products & Services
10.5.5.3. SWOT Analysis
10.5.5.4. Recent Developments
10.5.5.5. Strategies
10.5.5.6. Financials (Based on Availability)
10.5.6. Zonar Systems, Inc. (U.S.)
10.5.6.1. Overview
10.5.6.2. Products & Services
10.5.6.3. SWOT Analysis
10.5.6.4. Recent Developments
10.5.6.5. Strategies
10.5.6.6. Financials (Based on Availability)
10.5.7. Octo Telematics Ltd. (U.K.)
10.5.7.1. Overview
10.5.7.2. Products & Services
10.5.7.3. SWOT Analysis
10.5.7.4. Recent Developments
10.5.7.5. Strategies
10.5.7.6. Financials (Based on Availability)
10.5.8. Omnitracs LLC (U.S.)
10.5.8.1. Overview
10.5.8.2. Products & Services
10.5.8.3. SWOT Analysis
10.5.8.4. Recent Developments
10.5.8.5. Strategies
10.5.8.6. Financials (Based on Availability)
10.5.9. Masternaut Limited. (U.K.)
10.5.9.1. Overview
10.5.9.2. Products & Services
10.5.9.3. SWOT Analysis
10.5.9.4. Recent Developments
10.5.9.5. Strategies
10.5.9.6. Financials (Based on Availability)
10.5.10. Microlise Group Ltd. (U.K.)
10.5.10.1. Overview
10.5.10.2. Products & Services
10.5.10.3. SWOT Analysis
10.5.10.4. Recent Developments
10.5.10.5. Strategies
10.5.10.6. Financials (Based on Availability)
10.5.11. Inseego Corporation (U.S.)
10.5.11.1. Overview
10.5.11.2. Products & Services
10.5.11.3. SWOT Analysis
10.5.11.4. Recent Developments
10.5.11.5. Strategies
10.5.11.6. Financials (Based on Availability)
10.5.12. Volkswagen Commercial Vehicles (U.K.).
10.5.12.1. Overview
10.5.12.2. Products & Services
10.5.12.3. SWOT Analysis
10.5.12.4. Recent Developments
10.5.12.5. Strategies
10.5.12.6. Financials (Based on Availability)
10.5.13. Continental AG. (Germany)
10.5.13.1. Overview
10.5.13.2. Products & Services
10.5.13.3. SWOT Analysis
10.5.13.4. Recent Developments
10.5.13.5. Strategies
10.5.13.6. Financials (Based on Availability)

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