Video Telematics Market Demand And Growth Analysis 2022-28

The global video telematics market size was valued at USD 816.2 million in 2021 and is expected to grow at a significant CAGR of 22.8% during the forecast period 2022 to 2028. A technology system that aids in information transmission to commercial vehicles is referred to as commercial telematics. It is reliant on data from onboard sensors, including those in the braking system, airbags, advanced driver assistance systems (ADAS), and gearbox control systems. It offers insights into maintenance, safety tracking, and insurance risk assessment. Commercial telematics is currently gaining popularity in India since it helps insurance firms monitor driver behavior to assess the risk and modify the policy as necessary.

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Video Telematics Market Growth Factors:
Performance evaluation and monitoring are conducted using video telematics technology solutions. Sensors for detection are also a part of video telematics systems. Several safety features are alerted to the driver by these sensors. Vehicle owners can be alerted to a variety of safety risks, including speeding, stopping at red lights without stopping, lane drifting, front collision, and more. Cloud-connected AI dash cameras are becoming more and more common, combining the benefits of conventional dash cams with real-time monitoring and fleet management input via 4G internet and GPS data. Modern technologies are opening up new possibilities for increasing operational effectiveness. For instance, using Might Bus data to enhance routing and efficiency can reduce fuel use while enhancing service. A platform that can make data-driven decisions, offers predictive analytics, and help corporations solve big problems can also be built by organizations using video telematics. Telematics will also provide businesses with widespread functionality in fleet vehicles, enabling fleets to do away with logistical headaches. Due to the use of fleet telematics, prospects for video telematics are anticipated to increase.

The global video telematics market segmentation:
1) Component: Hardware, Software, Services.
2) Solution: Smartphone, Portable, Embedded.
3) By Application: Passenger Cars, Commercial vehicles.

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Video Telematics Market Regional Analysis:
One of the main factors driving the market expansion in India is the expanding transportation industry, which is also being widely adopted by smart transportation systems. Automobile manufacturers are concentrating on incorporating modern connection solutions to provide precise insights about automobiles as a result of the growing reliance on digital devices like smartphones, tablets, and laptops. These connectivity options contribute to increased vehicle efficiency, on-road assistance, smart routing and tracking, and an overall better driving experience. In addition, the nation's top manufacturers are concentrating on technological developments such as the creation of open-source frameworks for commercial telematics.

Major players working in the video telematics market are Sensata Technologies, MiX Telematics, Netradyne, Lightmetrics Technologies Private Limited, SureCam, SmartDrive Systems, Inc., VisionTrack, Nauto, Inc., FleetCam, Bendix Corporation.

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