Commercial Telematics Market Report 2022-27: Size, Share, Growth, Trends and Forecast

Commercial Telematics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

SHERIDAN, WY, UNITED STATES, February 2, 2022 /EINPresswire.com/ -- According to the recent report by IMARC Group, titled “Commercial Telematics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global commercial telematics market size reached a US$ 46 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 129.3 Billion by 2027, exhibiting at a CAGR of 19.4% during 2022-2027.

Report Metric

Historical: 2016-2021

Base Year: 2021

Forecast Year: 2022-2027

Commercial telematics refers to a technological solution that is primarily adopted for long-distance communication and transmission of information in commercial automobiles. It is utilized for monitoring vehicle location and movement through global positioning systems (GPS) along with tracking automobile diagnostics via onboard diagnostic systems. Commercial telematics also offers maintenance insights, safety tracking, insurance risk assessment, etc. Owing to this, numerous insurance providers are adopting commercial telematics to monitor driver behavior for analyzing risk factors and adjusting insurance policies accordingly.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Commercial Telematics Market Trends:

A significant growth in the transportation sector, along with the rising adoption of smart transportation systems, is primarily stimulating the market growth. Moreover, the growing deployment of digital devices, such as smartphones, tablets, laptops, etc., has led to the incorporation of advanced connectivity solutions by manufacturers. These solutions provide more accurate insights, enhance vehicle efficiency, and enable smart routing and tracking, thereby further improving the overall driving experience. Additionally, the introduction of open-source frameworks and other technology-neutral systems for integrating back-end components and technical adjustments in commercial vehicles is also propelling the global market. Moreover, the implementation of various government policies mandating commercial vehicle tracking, along with the advent of video-based telematics, are further expected to bolster the market growth in the coming years.

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Global Commercial Telematics Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

AirIQ Inc., Bridgestone Corporation, General Motors Company, Geotab Inc., Masternaut Limited. (Michelin), Mix Telematics International (Pty) Ltd., Octo Telematics, Omnitracs LLC, Trimble Inc., Verizon Communications Inc. and Zonar Systems Inc. (Continental AG).

The report has segmented the market on the basis on region, type, system type, provider type and end use industry.

Breakup by Type:

Solution
Fleet Tracking and Monitoring
Driver Management
Insurance Telematics
Safety and Compliance
V2X Solutions
Others
Services
Professional services
Managed services

Breakup by System Type:

Embedded
Tethered
Smartphone Integrated

Breakup by Provider Type:

OEM
Aftermarket

Breakup by End Use Industry:

Transportation and Logistics
Media and Entertainment
Government and Utilities
Travel and Tourism
Construction
Healthcare
Others

Breakup by Region:

North America: (United States, Canada0
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa:(South Africa, Turkey, Saudi Arabia, Others

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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