In 2023: Inseego UK partnered with Pocket Box, which is a vehicle and driver management software specialist in the global market. This collaboration has catered to fleet customers with advanced telematics-based fleet management solutions.
According to MarkNtel Advisors study, The Global Commercial Vehicle Telematics Market size was valued at around USD 4.9 billion in 2023 & is estimated to grow at a CAGR of around 15% during the forecast period, i.e., 2024-30.
The future scope of the Commercial Vehicle Telematics Industry incorporates a diverse range of technologies, such as vehicle-to-everything (V2X) communication. This technological integration with telematics enhances various parameters related to vehicles, including fleet management, on-road safety, and the overall efficiency of commercial vehicles. This offers profitable opportunities for the global market of commercial vehicle telematics.
With the rapid advancement in connected vehicle technology and the inclination towards efficient and safer transportation, the demand for vehicle telematics is projected to increase in the years to come. This embedded V2X advancement caters to telematics solutions for traffic real-time analysis, potential hazards, and route optimization. This leverages the complete operations of commercial vehicles, thus boosting the future growth prospects of the market worldwide.
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Key Findings in Commercial Vehicle Telematics Market:
| Historical Years | 2019-2022 |
| Base Years | 2023 |
| Forecast Years | 2024-2030 |
| Key Report Highlights | · Market Dimensions & Projections· Pricing Evaluation,· Recent Strategic Moves by Companies,· Primary Stakeholders,· Analysis of Import and Export Trends,· Competitive Landscape Assessment,· Emerging Opportunities,· Market Trends and Indicators |
| Reports Delivery Format | Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address. |
Commercial Vehicle Telematics Market Key Players:
Verizon Connect, Geotab, Trimble, Ptc Inc., Tomtom, Omnitracs, Masternaut Limited, Microlise, Inseego Corporation, Samsara, Octo Telematics, Mix Telematics, Zonar Systems, Teletrac Navman, Spireon, Others
Market Segmentation Overview:
- By Offering:
- Software:
- Fleet Management Software
- Safety Management Software
- Telematics Productivity Software
- Telematics Compliance Software
- V2X Software
- Others
- Services:
- Professional Services
- Managed Services
- Software:
- By Propulsion Type:
- IC Engine Vehicles
- Electric Vehicles
- Hybrid Vehicles
- By Vehicle Type:
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
- By Sales Channel:
- OEMs (Original Equipment Manufacturers)
- Aftermarket
The OEMs segment holds a major share of the Global Commercial Vehicle Telematics Market and during the forecast years, this segment is anticipated to witness a significant growth trajectory. This growth highlights the initial manufacturing stage of commercial vehicles, which has been integrated with advanced telematics solutions. OEMs have been inclined towards integrating advanced telematics into their vehicles to provide advanced connectivity features and services. The telematics-enabled services comprise advanced driver assistance systems (ADAS) and connectivity solutions for a seamless experience and real-time assistance for all potential customers in the present and coming years.
Additionally, the integration of these solutions in the existing models or old models of passenger cars is a highly complex procedure as it depends upon the infrastructure & compatibility of these solutions with a specific automotive model. This results in additional costs for the consumers who seek to replace their vehicle telematics with the existing car models. Therefore, the market share of the aftermarket in Global Commercial Vehicle Telematics is significantly lower than the OEMs.
- By End Users:
- Fleet Operators
- Auto Financing & Insurance Providers
- Logistics & Cargo Operators
- Public Transportation Authorities
- Emergency Services & First Responders
- Autonomous Vehicle OEMs & Technology Providers
- Agri & Farm Operators
- Mine Developers & Operators
- Others (Construction & Infrastructure Companies)
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By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Commercial Vehicle Telematics Industry Recent Development:
In 2023: Trimble announced the advanced functionalities of the TMT platform for fleet management by integrating an enhanced application programming interface. This interface can handle high-volume loads of records, ensuring the next inspection ticket number is generated with the latest version.
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