Commercial Telematics Market: Huge Growth to be Witnessed in Revenue by 2028 - Exclusive Forecast Report by Stratagem Market Insights

Seattle, United States: According to a recent market research study "Commercial Telematics Market By Type (Automotive OEM Services, Aftermarket Telematics), By Application (Transportation and Logistics, Insurance, Healthcare, Media & Entertainment, Vehicle Manufacturers/Dealers, Government Agencies), and By Region (North America, Asia-pacific, Europe, Latin America, the Middle East, and Africa) - Global Growth, Trends, and Forecast to 2028", published by Stratagem Market Insights, The Commercial Telematics market rise in demand from emerging economies and the growth of the organized industry sector create growth opportunities for the market.

📌 Segmentation by Type:

The type segment contributed the largest share to the global Commercial Telematics market in 2021; this segment is projected to grow at the highest CAGR from 2022 to 2028.

✤ Automotive OEM Services
✤ Aftermarket Telematics

📌 Segmentation by Application:

An end-use industry is projected to grow at the highest CAGR during the forecast period, due to rapid development in emerging economies North America, APAC, MEA, Europe, and RoW.

✤ Transportation and Logistics
✤ Insurance
✤ Healthcare
✤ Media & Entertainment
✤ Vehicle Manufacturers/Dealers
✤ Government Agencies

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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Commercial Telematics Market includes the following core components:

The value chain of the Commercial Telematics market includes the following core components:

✦ Inputs
✦ Operations
✦ Distribution and logistics
✦ Marketing and sales
✦ Aftermarket and service
✦ Industry innovations

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Highlights -

Segmentation - The report extensively covers market segmentation by Type (Automotive OEM Services, Aftermarket Telematics) and Application (Transportation and Logistics, Insurance, Healthcare, Media & Entertainment, Vehicle Manufacturers/Dealers, Government Agencies)

Key Companies - CARTRACK, DAIMLER FLEETBOARD GmbH, FLEET COMPLETE, GEOTAB INC., MICROLISE, MASTERNAUT LIMITED, MIX TELEMATICS, NAVISTAR, INC, OMNITRACS, TOMTOM INTERNATIONAL BV., TRIMBLE INC.,, VERIZON, ZONAR SYSTEMS

Driver - Growing investments in Commercial Telematics industry to drive the market

Challenge - Declining costs to hamper the market growth

Download Sample PDF for more additional information about the Commercial Telematics Market: https://www.stratagemmarketinsights.com/sample/42749

Leading Players Insights -

The Commercial Telematics Market is concentrated and the players are deploying growth strategies such as focusing on improving their sales, distribution, and working capital effectively to compete in the market.

✤ CARTRACK
✤ DAIMLER FLEETBOARD GmbH
✤ FLEET COMPLETE
✤ GEOTAB INC.
✤ MICROLISE
✤ MASTERNAUT LIMITED
✤ MIX TELEMATICS
✤ NAVISTAR INC
✤ OMNITRACS
✤ TOMTOM INTERNATIONAL BV.
✤ TRIMBLE INC.,
✤ VERIZON
✤ ZONAR SYSTEMS

Find additional highlights on the Players and their product/service offerings. Download Sample Report: https://www.stratagemmarketinsights.com/sample/42749

Overview of the Commercial Telematics Market:

As smartphone penetration grows, the cost of telematics devices is decreasing. New low-cost data-collection options have popped up in the last few years. Device capabilities have improved as well, with more features, easier access, and easier use. Many telematics devices are plug-and-play, so they don't need to be installed by a professional. With the growing adoption of telematics, new regulations have been implemented to drive the market. The Government of India has made telematics devices mandatory for all public transport vehicles with more than six seats. By deploying connectivity in commercial vehicles, these regulations are helping to improve road safety, improve compliance rates, and increase road safety.

Growing advancement in mobile connectivity in automotive industry is driving growth of the commercial telematics market. Moreover, rising demand for connected vehicles is again fostering market growth. For instance, in December 2021, WirelessCar, a global marketer in transformative digital vehicle services for connected cars, announced the company's participation at CES 2022 in its capacity as an AWS partner to Launch Smart EV. It is a dynamic digital product that enables drivers of electric vehicles to optimize their long-distance journeys. Increasing installation of GPS trackers and satellite navigation is again expected to propel growth of the market.

Asia Pacific is expected to gain significant growth over the forecast period owing January 2022, ReadyAssist, an Auto-Tech startup, has announced its collaboration with iTriangle Infotech, one of India's eminent IoT and telematics services providers for automobiles and a marketer in the transportation telematics domain.

Key Developments:

⇨ In May 2021, Shell Fleet Solutions, a subsidiary of Shell Oil, has expanded with a new Shell Telematics offering that comes with a fully compliant electronic logging device (ELD)

⇨ In September 2020, Navistar International Corporation a producer of International® brand commercial trucks, proprietary diesel engines, and IC Bus® brand school and commercial buses, announces Gateway Integrations, a collection of software integrations with the industry's telematics and fleet management providers

⇨ In February 2020, Nationwide embraces new insuretech partnerships for commercial telematics support. These are meant to help the insurer streamline its coverage options using telematics

⇨ In February 2022, RentalMatics and Fourth Tier have announced a new partnership for car rental, leasing, and mobility companies.

⇨ In January 2022, ReadyAssist, a leading Auto-Tech startup, has announced its collaboration with iTriangle Infotech, one of India's eminent IoT and telematics services providers for automobiles and a market leader in the transportation telematics domain

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