Feb 24, 2022   SOURCE: BusinessWire

Global Commercial Telematics Market Research Report 2022: Trends, Opportunities, and Cumulative & Regional Forecasts to 2027 - ResearchAndMarkets.com

The "Commercial Telematics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global commercial telematics market reached a value of US$ 46 billion in 2021. Looking forward, the market is forecast to reach US$ 129.3 billion by 2027, exhibiting a CAGR of 19.4% during 2022-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Significant growth in the transportation industry across the globe is one of the key factors creating a positive impact on the market. Furthermore, the widespread adoption of smart transportation systems is stimulating the growth of the market. Due to the increasing utilization of digital devices, such as smartphones, laptops and tablets, automobile manufacturers are integrating sophisticated connectivity solutions to provide more accurate insights about the vehicles. These solutions also aid in improving vehicle efficiency, facilitating smart routing and tracking, providing on-road assistance and enhancing the driver's overall experience.

Additionally, various technological advancements, such as the development of open-source frameworks for commercial telematics, are acting as other growth-inducing factors. For instance, Next-Generation Telematics Protocol (NGTP) is a technology-neutral system that is designed to conveniently integrate back-end components and make technical adjustments in commercial vehicles.

Other factors, including the implementation of favorable government policies to mandate commercial vehicle tracking, along with the development of video-based telematics, are anticipated to drive the market further.

Key Market Segmentation

This report provides an analysis of the key trends in each sub-segment of the global commercial telematics market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on 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
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined with some of the key players being:

  • 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.
  • Zonar Systems Inc. (Continental AG)

Key Questions Answered in this Report

1. What is the size of the global commercial telematics market?

2. What are the key factors driving the global commercial telematics market?

3. What has been the impact of COVID-19 on the global commercial telematics market?

4. What is the breakup of the global commercial telematics market based on the type?

5. What is the breakup of the global commercial telematics market based on the system type?

6. What is the breakup of the global commercial telematics market based on the provider type?

7. What is the breakup of the global commercial telematics market based on the end use industry?

8. What are the key regions in the global commercial telematics market?

9. Who are the key players/companies in the global commercial telematics market?

For more information about this report visit https://www.researchandmarkets.com/r/s1fc9j