Commercial Telematics Market Size, Share | Trend 2030

Ameco Research Analyst estimated that the global market for commercial telematics will rise at a CAGR of more than 13% during the forecast period, with market size of over US$ 160 Bn by 2030.

Telematics is a type of technology that allows you to track a variety of data about a single vehicle or an entire fleet. Telematics systems collect and visualize data such as vehicle location, driver behavior, engine diagnostics, and vehicle activity on software platforms that assist fleet operators in managing their resources.

Most modern commercial vehicles can benefit from telematics. Many commercial vehicle manufacturers have already installed GPS tracking and telematics systems in fleet cars. In most modern commercial vehicles, aftermarket GPS units can be mounted. The electrical system of the car or internal batteries is used to power these devices. Some automakers have teamed up with telematics companies to ensure that the systems are seamlessly integrated with the vehicles. Smart automobiles are already connected to the internet and have Wi-Fi capabilities, allowing for two-way data exchange with current networks.

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Market Dynamics

Telematics' emergence in the automotive sector has marked a watershed moment in fleet efficiency and safety. There are a few developing trends to keep an eye on in the near future as it continues to gain traction. Fuel price fluctuation has had a negative influence on the commercial vehicle industry in recent years. This has sparked interest in several new applications that allow for fleet-wide fuel optimization, and it is expected to drive demand for telematics systems in the commercial fleet segment during the next seven years. Furthermore, driver monitoring and safety are primed to emerge as a new application area, which might stimulate telematics innovation and growth.

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Telematics is built on data, but understanding and acting on that data can be difficult. Telematics suppliers, such as Samsara, will likely give clients cognitive tools to help them go through raw data. Customers can use Samsara's data-driven platform to get reports and tools to help them understand the numbers and transform them into actionable insights.

Previously, telematics companies operated solely within closed ecosystems. Fleets would buy and install proprietary onboard computers that could only communicate with the provider's telematics software. The operator would have to rely on the available add-on applications, which would only exchange specified data and would update according to the provider's timetable.
Apps for specialized hardware, such as telematics systems, can be created for smartphones and tablets. Individual drivers' demands might be addressed by downloading the appropriate app, which could then be used and integrated with other apps on the same device. Apps for the back-office and management teams could also be downloaded.

Major Players

The top players offered in the report include AT&T Inc., Verizon Communications Inc., Bayerische Motoren Werke AG (BMW), MiX Telematics Limited, TomTom N.V., Trimble Inc., and OnStar Corporation.

Global Commercial Telematics Market Classification

The commercial telematics market is divided into four categories: solution type, end-user, application, and geography. The solution type segment can be categorized into aftermarket and OEM. The worldwide commercial telematics market is dominated by the aftermarket segment. However, the OEM segment is expected to attain a substantial growth rate during the forecast period 2022 - 2030.

The end-user segment is categorized into insurance, transportation and logistics, healthcare, media & entertainment, vehicle manufacturers/dealers, and government agencies. Based on our analysis, the transportation and logistics segment achieved a significant share in 2021. In the trucking and transportation industries, telematics has become an indispensable instrument. You can use telematics systems and fleet management software together to make better judgments about your fleet and business. To get the most out of your fleet, you'll need to know what telematics systems are, how they work, and what they can do for you. Furthermore, based on application, the market is split into solutions and services.

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Regional Stance

North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa (MEA) are the regional categorization of the global commercial telematics market. North America dominates the commercial telematics market due to the region's well-established telematics industry, early adoption of technologies, and rising sales of high-tech vehicles. In the commercial vehicle telematics market Asia Pacific is expected to grow at the fastest rate throughout the forecast period due to the increasing consciousness about accident prevention and driver safety, untapped market strength, upcoming regulations to improve road safety, existence of leading OEM players, arrival of 4G LTE technology and smartphones, and growing transportation and logistics industries.

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