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Global Commercial Vehicle Telematics Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028
Stratistics MRC's Global Commercial Vehicle Telematics Market value is expected to reach $144.52 billion growing at a CAGR of 20.8% during 2022-2028.Telematics is a means of tracking a vehicle's location and movement using a mix of GPS and on-board diagnostics devices. The GPS and diagnostics systems can be used to record the vehicle's speed and internal behaviour. Automobile insurance firms, fleet management businesses, and others use telematics devices to track the position and behaviour of vehicles. The global commercial telematics market encompasses the services and solutions used to monitor and control a commercial vehicle via a telecommunication device. A Fleet Telematics System (FTS) allows information to be exchanged between a commercial vehicle fleet and a central authority, allowing them to keep track of vehicle diagnostics and position.
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North America is projected to have the highest CAGR over the forecast period, owing to the rising number of commercial vehicle accidents, as well as increased security and safety concerns among drivers, passengers, and accident avoidance, are driving up demand for telematics throughout the region. Furthermore, government rules that encourage the use of automotive telematics are likely to boost revenue growth in this region.
Some of the key players profiled in the Commercial Vehicle Telematics Market include Mix Telematics International (PTY) Ltd., PTC Inc., TomTom Telematics BV, Trimble Inc., Microlise Group Ltd, OCTO Telematics Ltd., Masternaut Limited, Verizon Telematics Inc., Zonar Systems Inc. and Omnitracs LLC.
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Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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