Press release
Global Commercial Vehicle Telematics Market reach USD 39.07 billion by 2026 Analysis by- Mix Telematics, Zonar Systems, Octo Group S.p.A., Omnitracs, Mastenaut Limited, Microlise Telematics Pvt. Ltd. Volkswagen Commercial Vehicles, HARMAN International
Global Commercial Vehicle Telematics Market
The GLOBAL COMMERCIAL VEHICLE TELEMATICS MARKET research report performs the study of market drivers and market restraints thoroughly along with the analysis of the market structure of ABC industry. SWOT analysis and Porter’s Five Forces analysis are two of the standard, and full-proof methods used here to carry out the market research study and formulate this particular market report.
Market Analysis: Global Commercial Vehicle Telematics Market
Global Commercial Vehicle Telematics Market is expected to rise from its initial estimated value of USD 8.80 billion in 2018 to an estimated value of USD 39.07 billion by 2026, registering a CAGR of 20.47% in the forecast period of 2019-2026.
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Key Market Competitors:
Few of the major competitors currently working in the commercial vehicle telematics market are- PTC, Trimble Inc., Tomtom Telematics BV, Verizon, Mix Telematics, Zonar Systems, Octo Group S.p.A., Omnitracs, Mastenaut Limited, Microlise Telematics Pvt. Ltd, Inseego Corp., Trimble Inc., Volkswagen Commercial Vehicles, HARMAN International, AT&T.
Market Definition:
Telematics is the combination of global positioning system and in- board diagnostics system which is used to monitor the location and movement of a vehicle. It has capabilities like traffic updates, smart routing and tracking, road assistance etc. It also records the speed and internal behaviour of the vehicle. They are usually used by the fleet management companies which they used to exchange information between the commercial vehicle fleet and central authority.
Market Drivers:
Increasing demand for fleet management services and government initiatives for deployment of vehicle tracking
There is increase in the adoption of the telematics in business
Segmentation: Global Commercial Vehicle Telematics Market
By Type
OEM
Aftermarket
By Application
Solutions
Services
By End- User
Transportation and Logistics
Insurance
Healthcare
Media &Entertainment
Vehicle Manufacturer
Government Agencies
By Geography
North America
Europe
Asia-Pacific
Middle East & Africa
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Key Developments in the Market:
In December 2018, MiX Telematics launched their MiX Now which is a simple and self- service fleet software. Mix Now will send useful reminders and alerts and how vehicles are used to the business owners or managers.
In August 2017, ERM Advanced Telematics announce the launch of the StarLink Tracker. It has Wi-Fi which will help in the vehicle tracking, will monitor driver behaviour. They are designed for the installation in both production line and in aftermarket.
Competitive Analysis:
Global commercial vehicle telematics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of commercial vehicle telematics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key Market players involved in this industry
Detailed analysis of the Market Segmentation
Competitive analysis of the key players involved
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Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
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