The global commercial telematics market is anticipated to grow at a considerable CAGR of 15.8% during the forecast period (2020-2026). The increase in technological advancements by the key providers of commercial telematics solutions & services to differentiate their product offerings to remain competitive in the global market is a key factor to drive the growth of the global commercial telematics market. For instance, in February 2021, Bright Box HK Ltd., a telematics solution provider entered into a partnership with My Policy Group, a UK-based provider of services across intermediation, and product design for niche telematics motor insurance. My Policy has launched a usage-based insurance product, JURNY, in which Bright Box and part of Zurich Insurance Group both will be involved to enable rapid growth of the company.
A full report of Commercial Telematics Market is available at: https://www.omrglobal.com/industry-reports/commercial-telematics-market
Besides, in February 2021, Skoda Auto introduced a traffication infotainment application, which aims to improve driver safety by alerting drivers about forthcoming traffic hazards, which reduces the chances of road accidents and reducing the risk of wrong-way driving on motorways. This application is available in the models of Skoda including Scala, Kamiq, Karoq, Kodiaq, and others. The application is developed after a long-term collaboration between Skoda and Bosch. Thus, the growing efforts of major market players to make advancements in their solutions to gain competitive position s are anticipated to drive the market growth.
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Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
o By solution
o By end-user
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Bridgestone Corp., General Motors Co., Verizon Communications Inc., Aplicom Ltd., and Omnitracs LLC
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Commercial Telematics Market Report Segment
By Solution
- Fleet Tracking and Monitoring
- Driver Management
- Insurance Telematics
- Safety & Compliance
- V2V and V2X systems
- Others (Fuel Monitoring)
By End-User
- Insurance
- Government and Utilities
- Healthcare
- Media and Entertainment
- Transportation & Logistics
- Others (Manufacturing)
By Distribution Channel
- OEM
- Aftermarket
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