Press release
Commercial Telematics Market is expected to witness Incredible Growth during 2021-2031 | Cartrack, Daimler Fleetboard GmbH, Fleet Complete, Geotab
Commercial Telematics Market
Telematics is the technology of sending, receiving and storing information via telecommunication devices. Commercial telematics refers to the use of this technology in businesses and organizations, usually for the purposes of fleet management, asset tracking and monitoring.
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Key Trends:
There are three key trends in Commercial Telematics technology:
1. The increasing adoption of telematics by commercial fleets: Commercial fleets are increasingly adopting telematics technology to improve their operations. Telematics can help fleets to track vehicles, monitor driver behavior, and optimize routes. This can lead to significant cost savings for fleets, as well as improved safety and efficiency.
2. The increasing use of telematics data by insurance companies: Insurance companies are increasingly using telematics data to price insurance premiums. By using data on actual driving behavior, rather than simply demographics, insurance companies can better assess risk and offer more accurate premiums.
Key Drivers:
There are several key drivers of the commercial telematics market. One driver is the increasing demand for safety and security features in vehicles. This is especially true in fleet applications, where safety is a major concern. Another driver is the need for increased efficiency and productivity in fleet operations. Telematics can help fleet managers track vehicle location and performance, as well as driver behavior.
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Market Segments:
The commercial telematics market is segmented by solution, end-user, and region. By solution, the market is classified into automotive OEM services, and aftermarket telematics. Based on end-user, it is bifurcated into insurance, healthcare, media, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players:
The global commercial telematics market includes players such as Cartrack, Daimler Fleetboard GmbH, Fleet Complete, Geotab Inc, Microlise, Masternaut Ltd, Mix Telematics, Navistar Inc, Omnitracs, Tomtom International BV, and others.
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