Market Research Report
Commercial Telematics Market, By Type(Solutions & Services), Vehicle (Passenger cars & Commercial vehicles), Product (Hardware & Software), Provider (Aftermarket & OEM) Region-Analysis, Share, Trends, Size, & Forecast From 2014-2025
|Published by||AnalystView Market Insights||Product code||825265|
|Published||Content info||195 Pages
Delivery time: 2-3 business days
|Commercial Telematics Market, By Type(Solutions & Services), Vehicle (Passenger cars & Commercial vehicles), Product (Hardware & Software), Provider (Aftermarket & OEM) Region-Analysis, Share, Trends, Size, & Forecast From 2014-2025|
|Published: April 18, 2019||Content info: 195 Pages||
Commercial Telematics Market
By Type (Solutions and Services), By Vehicle (Passenger cars and Commercial vehicles), By Product (Hardware and Software), By Provider (Aftermarket and OEM) by Region (North America, Europe, Asia Pacific and RoW) - Analysis, Share, Trends, Size, & Forecast From 2014 - 2025.
The Commercial Telematics market is estimated to represent a global market of USD 20.53 billion by 2017 with growth rate of 23.8%.
The global commercial telematics is majorly driven by the digitization of vehicles. Companies such as DirectLine, Ctrack, Octo Telematics, and Insure The Box Limited are few players that now integrate telematics with insurance. Over the coming years, new vendors are expected to enter this market on account of the growth potential in this space, supporting the industry growth. The market has been segmented on the basis of solution, services, vehicle type, product, and source. In terms of different solution, fleet management solution emerged as the dominant solution segment in 2017 and accounted for 35% of the overall market revenue share.
Depending upon service type, consulting and design services dominated the market accounting to over 40% of the share in 2017. Cost-effectiveness of this service and low-cost vehicle tracking is one of the major reason for the service to boom in the commercial telematics market.
The telematics market is consolidated in nature and highly competitive. Key players such as PTC, Inc., Octo Telematics, Verizon, Fleetmatics, Mix Telematics, Omnitracs LLC, and TomTom Telematics are covered under the study scope. Many key companies are focusing on developing novel product portfolio. Fleetmatics is one of the leading companies in the Americas with about 600,000 functional units present in the region.
The acquisition of Telogis by Verizon in has made the market more competitive. Maximum automobile manufacturers with significant presence such as Ford, Scania, and Volvo nowadays provide pre-installed OEMs and fleet telematics devices and solutions either through partnership or independent in the Americas. The awareness of telematics is increasing in Central & South America and solutions and services provided by the OEMs are estimated to rise in the coming years.
The market size and forecast for each segment and sub-segments has been considered as below:
The scope of this report covers the market by its major segments, which include as follows: