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Commercial Telematics Market 2023 - Market Share, Business Growth Statistics, Key Trends, Market Insights, And Forecast To 2032
Commercial Telematics Market Analysis
Commercial Telematics Market Size, Growth Rate, And Forecast
The global commercial telematics market size is expected to grow from $40.35 billion in 2022 to $47.46 billion in 2023 at a compound annual growth rate (CAGR) of 17.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global commercial telematics market size is expected to reach $92.30 billion in 2027 at a CAGR of 18.1%.
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Commercial Telematics Market Drivers
The increasing sales of commercial and passenger vehicles are expected to propel the growth of the commercial telematics market going forward. The demand for commercial and passenger automobiles has increased as a result of economic expansion and technical improvements. Growing economies provide consumers greater purchasing power, which boosts demand for transport services and automobile sales. For fleet managers, technological elements including advanced safety systems and telematics solutions have further improved vehicle allure, effectiveness, and operational optimization.
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Commercial Telematics Market Segments
1) By Type: Solutions, Services
2) By System: Embedded, Tethered, Smartphone Integrated
3) By Provider: Original Equipment Manufacturer (OEM), Aftermarket
4) By End User: Transportation And Logistics, Insurance, Healthcare, Media And Entertainment, Vehicle Manufacturers Or Dealers, Government Agencies, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the commercial telematics market.
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Commercial Telematics Market Key Players
Major competitors in the commercial telematics market include Geotab Inc., Masternaut Limited, Mix Telematics, Omnitracs, TomTom International BV, Trimble Inc., Verizon, Zonar Systems.
The Business Research Company's "Global Commercial Telematics Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Commercial Telematics Market Include:
1. Executive Summary
2. Commercial Telematics Market Characteristics
3. Commercial Telematics Market Trends And Strategies
4. Commercial Telematics Market - Macro Economic Scenario
5. Commercial Telematics Market Size And Growth
.....
26. Africa Commercial Telematics Market
27. Commercial Telematics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Commercial Telematics Market
29. Commercial Telematics Market Future Outlook and Potential Analysis
30. Appendix
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