Connected Truck Telematics Market Forecast to 2028 - Covid-19 Impact and Global Analysis -Continental AG, DAF, Daimler AG, 4. Daimler Fleetboard GmbH, and Meritor WABCO. Also, OTTO Motors, Peloton Technology

Fuel is estimated to be the second largest expense in managing fleets after payrolls. The need to optimize fuel usage and drive cost efficiencies have led the fleet managers to look for solutions that would give them insights into the various aspects of their fleets. Further untimely repairs and maintenance also add to the costs of the fleet managers where fleet downtime plays a significant role. Connected truck telematics provides all solutions related to notifying on the repair and maintenance aspects, provides insights into the fuel consumption data, and also establishes connections with other vehicles on the road for advanced driver assistance.

In 2019, North America dominated the Connected Truck Telematics market. The market growth in this region is attributed to surging number of cosmetic procedures, increasing strategic developments by the market players, and growing medical tourism for aesthetic laser therapies. Due to COVID -19 American Society of Plastic Surgeons (ASPS) in May 2020 released a statement to urge the suspension of elective and non-essential procedures of cosmetic and laser surgeries in the US.

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Connected Truck Telematics Market: Key Insights
Connected Truck Telematics Market Size 2021, by manufacturer, region, types, and application, forecast till 2028 is analyzed and researched on the basis of the comprehensive analysis of the global market. The report focuses on key market-related aspects including market segmentation, geographic segmentation, market dynamics, and other market growth factors. The report contains detailed analysis of the distinct industrial growth strategies, which helps to determine the dominant segments and to know about different factors. The scope of various segments and applications that could potentially affect the Connected Truck Telematics market in the future has been further analyzed in the report.

Connected Truck Telematics Market: by Product Type, Technology Type, and Application Overview
In terms of type, the market segment is expected to register a high CAGR in the Connected Truck Telematics market during the forecast period. Connected Truck Telematics Market to 2028 Global Analysis and Forecast by Product Type, Technology Type, and Application Covid-19 Impact and Global Analysis - by Technology (Dedicated Short Range and Long Range/ Cellular Network); Vehicle Type (Light Commercial Vehicles , Medium Commercial Vehicles, and Heavy Commercial Vehicles); Communication Type (Vehicle-To-Vehicle (V2V), Vehicle-To-Infrastructure (V2I), and Vehicle-To-Cloud (V2C)) of global Connected Truck Telematics Market In terms of end user, the clinics segment is anticipated to hold a major market share during the forecast period.

Connected Truck Telematics Market: Competition Landscape and Key Developments
Continental AG, DAF, Daimler AG, 4. Daimler Fleetboard GmbH, and Meritor WABCO. Also, OTTO Motors, Peloton Technology, Scania AB, TomTom International B.V., and AB Volvo are key companies operating in the global Connected Truck Telematics market. The leading market players are continuously focusing on tapping prevailing business opportunities through the expansion and diversification of their market presence as well as acquisition of new customer base.

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Impact of COVID-19 Pandemic on Connected Truck Telematics Market:

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the world. As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures updated on January, 2021, there are ~83,322,449 confirmed cases and 1,831,412 total deaths globally.

The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemicals & materials industry is one of the major industries that is suffering from serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. Although, China is the global hub of manufacturing and largest raw material supplier for various industries, it is also one of the worst affected countries.

The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various chemicals and materials. Various companies have already announced possible delays in product deliveries and slump in future sales of their products.

Additionally, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemicals & materials industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.

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