India Commercial Telematics Market to Reach US$ 3,119 Million by 2027, Impelled by Expanding Transportation Sector

The latest report published by IMARC Group, titled "India Commercial Telematics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The India commercial telematics market size reached US$ 1,005 Million in 2021. Looking forward, IMARC Group expects the market value to reach US$ 3,119 Million by 2027, exhibiting a CAGR of 21.52% during 2022-2027.

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Commercial telematics is a fleet tracking solution and service that allows transport companies or vehicles to share real-time operational data with dispatch centers for efficient and safe cargo transfer. It transmits, stores and receives information and then communicates with the commercial fleet and the central authority, allowing authorities to maintain a trail of vehicle location. Currently, commercial telematics uses telecommunication, a global positioning system (GPS), informatics, and onboard diagnostics equipment. These solutions help track vehicles position, speed, motion, and internal behavior of the automobile. Consequently, commercial telematics finds extensive applications in cargo vans, buses, heavy construction equipment, and tractor-trailers.

India Commercial Telematics Market Trends:

Considerable expansion in the transportation industry, rising fleet security and safety concerns and the increasing need for vehicle tracking solutions has facilitated the predominant adoption of commercial telematics across various sectors, which is primarily driving the market growth in India. Furthermore, stringent government laws and regulations for the security, safety, and tracking of automobiles are encouraging the adoption of commercial telematics. Moreover, the integration of connectivity solutions in vehicles by original equipment manufacturers (OEMs) and growing consumer demand for staying connected 24/7 with these technologies while traveling are favoring the market growth. These connective solutions improve vehicle efficiency, on-road assistance, smart routing and tracking, and the overall driving experience. Besides this, the introduction of the next-generation telematics protocol (NGTP) and the development of open-source frameworks by a community of software engineers in commercial telematics are contributing to the market growth in the nation.

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Key Market Segmentation:

The report has segmented the India commercial telematics market based on type, system type, provider type, end use industry and region.

Breakup by Type:

• Solution:
o Fleet Tracking and Monitoring
o Driver Management
o Insurance Telematics
o Safety and Compliance
o V2X Solutions
o Others

• Services:
o Professional Services
o Managed Services

Breakup by System Type:

• Embedded
• Tethered
• Smartphone Integrated

Breakup by Provider Type:

• OEM
• Aftermarket

Breakup by End Use Industry:

• Transportation and Logistics
• Media and Entertainment
• Government and Utilities
• Travel and Tourism
• Construction
• Healthcare
• Others

Breakup by Region:

• North India
• West and Central India
• South India
• East India

Competitive Landscape With Key Players:

The competitive landscape of the market has also been examined along with the profiles of the key players.

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.