Commercial Automotive Telematics Market Gaining Traction from Thriving Automotive Industry
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
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 rising demand of connected cars in this region. Additionally, increasing concerns regarding the safety and security features in the automotive industry is 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 vehicle.
Commercial Automotive Telematics Market: Disruptive Trends
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 make inbuilt emergency services compulsory in vehicles. These regulations are directing the automobile manufacturers to produce commercial vehicles with inbuilt telematics systems.
Technological advancements paralleled with the modernization of the world, result in drop in the cost of telematics. Currently, various companies are offering customized telematics solutions for a cheaper price.
of the Automobile Market
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.
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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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. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisitions Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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