Press release
Commercial Vehicle Telematics Market Size, Share Analysis, Industry Trends, Segmentation And Forecast To 2032
Commercial Vehicle Telematics Market Analysis
The Business Research Company's Commercial Vehicle Telematics Global Market Report 2023 identifies growing demand for electric vehicles as the major driver for the commercial vehicle telematics market's growth in the forecast period. Electric vehicles (EVs) refer to vehicles that are powered by one or more electric motors using electrical energy stored in rechargeable batteries or obtained from an external source. Telematics is used in electric vehicles (EVs) to collect and transmit data about the vehicle's performance, location, and other factors, improving EVs' efficiency and safety.
The global commercial vehicle telematics market is expected to grow from $42.38 billion in 2022 to $50.64 billion in 2023 at a compound annual growth rate (CAGR) of 19.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. 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 commercial vehicle telematics market is expected to reach $84.83 billion in 2027 at a CAGR of 13.8%.
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Major competitors in the commercial vehicle telematics market are Verizon Communications Inc., Cisco Systems Inc., Continental AG, Navistar International Corporation, Garmin Ltd., Trimble Inc., Tata Motors Limited.
A key trend in the commercial vehicle telematics market includes technological advancement. Major companies operating in the commercial vehicle telematics market are developing innovative, advanced technologies to sustain their position in the market. For instance, in July 2020, Tata Motors Limited, an India-based automobile manufacturer, launched Fleet Edge, an innovative next-generation digital solution for optimal fleet management for commercial vehicles. It is a cloud-based solution that can be accessed from anywhere and makes it easy for fleet managers to monitor their fleets and get the information they need to make informed decisions. Additionally, it features real-time location tracking, driver behavior monitoring, fuel management, maintenance tracking, and compliance reporting.
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The commercial vehicle telematics market is segmented -
1) By Type: Solutions, Services
2) By Provider Type: Original Equipment Manufacturer (OEM), Aftermarket
3) By Vertical: Transportation And Logistics, Government And Utilities, Travel And Tourism, Construction, Education, Healthcare, Other Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the commercial vehicle telematics market.
The Business Research Company's "Global Commercial Vehicle Telematics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Commercial Vehicle Telematics Market Include:
1. Executive Summary
2. Commercial Vehicle Telematics Market Characteristics
3. Commercial Vehicle Telematics Market Trends And Strategies
4. Commercial Vehicle Telematics Market - Macro Economic Scenario
5. Global Commercial Vehicle Telematics Market Size and Growth
……..
32. Global Commercial Vehicle Telematics Market Competitive Benchmarking
33. Global Commercial Vehicle Telematics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Commercial Vehicle Telematics Market
35. Commercial Vehicle Telematics Market Future Outlook and Potential Analysis
36. Appendix
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