Commercial Telematics Market – Scenario
The Commercial Telematics Global Market is useful for transmitting real-time information to the devices. Market Research Future (MRFR) has published a research report on the global commercial telematics market that assesses advancement for this market at 18% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The global commercial telematics market is bifurcated on the basis of type, solutions, end- users and region. The type is segmented into vehicle telematics, fleet telematics, insurance telematics and others. The solutions is segmented on the basis of remote alarm & monitoring, navigation and location based, infotainment, V2v and V2i, tele-health and others. The end-users is segmented into government agencies, media & entertainment, transportation and logistics, insurance, healthcare and others. The region includes North America, Europe, Asia Pacific and rest of the world.
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The pivotal factor inspiring growth for the global commercial telematics market is the increasing number of subscribers as well as companies that are showing a higher level of penetration in the commercial telematics market. Other factors supporting the market growth include transition towards efficient as well as low-cost telematics systems, growing use of telematics in automotive industries, growing demand for telematics in automotive applications, investments transpired in research and development (R&D) activities to develop control & communications systems, and technological integration among platforms. Growing applications of telematics across various sectors are leading to market growth. However, economic uncertainty can hamper market growth.
The key players in the global commercial telematics market include AT&T Inc. (USA), Bayerische Motoren Werke AG (Germany), Ford Motor Company (USA), Harman International Industries Inc. (USA), Mix Telematics International Ltd (South Africa), Telefónica S.A. (Spain), TomTom Telematics BV (Netherlands), Trimble Inc. (USA), Verizon Communications Inc. (USA), and Vodafone Group PLC (UK).
The global commercial telematics market can be segmented on the basis of end-user, solutions, types, and lastly, region. Based on end-users, this market has been segmented into government agencies, healthcare, insurance, media & entertainment, transportation & logistics, and others. Regarding solutions, the market can be segmented into infotainment, navigation & location based, remote alarm & monitoring, V2v & V2i, telehealth, and others. By types, the market segmentation covers fleet telematics, insurance telematics, vehicle telematics, and others.
Latest Industry News
American Association of Insurance (AAIS), the only national non-profit advisory organization in the USA is partnering with eTech Services, Inc., a technology solutions provider that works exclusively on the insurance vertical. This partnership aims to deliver telematics-enabled solutions to AAIS Member insurance carriers with regards to commercial auto insurance. 27 MAR 2019
Ford’s new commercial vehicle lineup is coming with 4G Long-Term Evolution (LTE) Wi-Fi that would enable fleets to use new Ford Telematics and Ford Data Services fleet management solutions. 7 MAR 2019
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Commercial Telematics Market – Regional Analysis
The North America commercial telematics market dominates the global market with the largest market share owing to the proliferation of self-installed, onboard diagnostics devices that are capturing maximum market.
The commercial telematics market in Europe is expected to witness rapid growth in the years to come. In Europe, the commercial telematics used in the insurance sector has huge market demand. Besides, the well-established automotive industry provides impetus to the market to grow exponentially.
The Asia-Pacific commercial telematics market is emerging as one of the most lucrative markets globally. Markets in countries such as China, Japan, and South Korea are expected to register the highest CAGR during the forecast period.
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