Commercial Telematics Market Prediction by 2025 | $144.44 Billion Industry Worldwide
According to the report, the global commercial telematics market was pegged at $27.07 billion in 2017 and is expected to account $144.44 billion by 2030, registering a CAGR of 13.8% through 2030.
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"The report provides extensive analyses of the market dynamics, key market segments, top-winning strategies, top investment pockets, and competitive landscape."
Growing trend of connectivity solutions and increasing need for easy diagnosis of vehicles drive the growth of the market. Moreover, government regulations for vehicle telematics supplement the growth of the market. However, concerns related to data hacking, the high cost of installation, and lack of uninterrupted & seamless internet connectivity hamper the market growth. On the contrary, the development of intelligent transportation systems and improved performance of autonomous vehicles are expected to create promising opportunities for the market players in the coming years.
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•OEM segment to create lucrative opportunities through 2030
•Services segment to manifest the fastest growth through 2030
•Transportation and logistics segment to hold lion's share through 2030
•North America to dominate the market throughout the forecast period
Major market players
The major market players analyzed in this report include Cartrack, Fleet Complete, Microlise, Mix Telematics, Omnitracs, Trimble Inc., Zonar Systems, Daimler Fleetboard GmbH, Geotab Inc., Masternaut Limited, Navistar Inc., TomTom International BV, and Verizon Connect.
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