The global commercial automotive telematics market is expected to grow at a significant CAGR during the forecast period 2021-2027. Commercial automotive telematics is considered as the branch of the IT and Telecommunication sectors. This Telematics enables the transmission of information from long distances in commercial automobiles which includes monitoring of vehicle movement and location by the combination of two major systems including onboard diagnostic system and global positioning system (GPS). The Telematics system is widely used by fleet management companies, automobiles insurance companies to monitor and record the behaviour, speed, and location of the vehicle.
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The increasing instances of highway collisions and automobiles high speed are the dominant factor that drives the growth of the global market. Emerging technologies like automotive telematics will monitor automobiles activities and regulate their function which will allow the commercial user to increase the implementation of such systems. This, as result, is anticipated to boost the market growth of the global commercial automotive telematics market.
The market was further expected to drive by the increasing adoption of smartphones and 4G/5G technology. The rapid development of the emerging logistics and transportation industries is an additional factor subjected to raising the market growth of the global commercial automotive telematics market during the forecast period. The increasing privacy and security concerns in a vehicle will also raise the demand for commercial automotive telematics and projected to register a significant value in the global market.
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The rise in trends of connectivity solutions and technological advancement are adopted strategies by market players to reinforce the global commercial automotive telematics market. For instance, in July 2021, Ford Motor Company acquired Electriphi, a silicon valley startup to elevate EV strategy. The acquisition includes the elevation of Ford’s telematics that encourages reduced downtimes of the company with incorporated Electriphi’s implemented software as a service platform to enhance the telematics system.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Type
o By Provider Type
o By Vertical
- Competitive Landscape- PTC Inc., Trimble Inc., TomTom Telematics BV, Verizon Telematics Inc., Mix Telematics International (PTY) Ltd., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
- 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 Automotive Telematics Market by Segment
By Type
- Solutions
- Services
By Provider Type
- OEM
- Aftermarket
By Vertical
- Transportation & Logistics
- Government & Utilities
- Travel & Tourism
- Construction
- Education
- Healthcare
- Others
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