Global Fleet Telematics Systems Market 2023-2027
Technavio has been monitoring the fleet telematics systems market and it is poised to grow by $69.57 bn during 2023-2027, accelerating at a CAGR of 23.18% during the forecast period. Our report on the fleet telematics systems market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by benefits in terms of cost savings, fleet telematics system integrated with video-based safety system precisely tracks driver behavior, and government initiatives pushing the adoption of telematics systems.
Technavio's fleet telematics systems market is segmented as below:
- Aftermarket fleet telematics systems
- OEM fleet telematics systems
By Geographical Landscape
- North America
- South America
- Middle East and Africa
This study identifies the growing developments in OEM fleet telematics systems as one of the prime reasons driving the fleet telematics systems market growth during the next few years. Also, advanced analytics usage to optimize vehicle efficiency and the adoption of 5G technology to gain prominence will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the fleet telematics systems market covers the following areas:
- Fleet telematics systems market sizing
- Fleet telematics systems market forecast
- Fleet telematics systems market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fleet telematics systems market vendors that include Actsoft Inc., AT and T Inc., Bridgestone Corp, Continental AG, Danaher Corp., Fleet Complete, Garmin Ltd., Geotab Inc., Inseego Corp., KORE Wireless Group Inc., Liebherr International Deutschland GmbH, Michelin Group, Microlise Group Plc, MiX Telematics Ltd., Omnitracs LLC, Samsung Electronics Co. Ltd., Sprint Corp., Trimble Inc., Verizon Communications Inc., and Zoho Corp. Pvt. Ltd. Also, the fleet telematics systems market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.