Press release
Global Commercial Telematics Market Projected to Surpass $134.11 Billion by 2029 with 20% Annual Growth
Commercial Telematics Market Size
The growth of the commercial telematics market is anticipated to be propelled by the rise in the sales of commercial and passenger vehicles. The demand for commercial and passenger cars has surged due to economic growth and technological advancements. Economies that are growing afford consumers increased buying power, enhancing the demand for transportation services and car sales. For fleet managers, aspects such as advanced safety systems and telematics solutions have further augmented vehicle appeal, efficiency, and operational streamlining. For instance, the France-based trade federation, International Organization of Motor Vehicle Manufacturers, indicated in January 2024 that there was a considerable jump in the sales of commercial vehicles in 2023, hitting 12,892,621, compared to 11,371,749 units sold in 2022. Likewise, the sales of passenger cars escalated from 2,858,575 in 2022 to 3,116,647 in 2023. Both sectors exhibited significant growth, underlining a robust recovery and a swelling demand in the auto sector. Thus, the escalating sales of commercial and cars are fanning the growth of the commercial telematics market.
Get Your Commercial Telematics Market Report Here:
https://www.thebusinessresearchcompany.com/report/commercial-telematics-global-market-report
What is the future CAGR of the commercial telematics market, and how will it impact industry expansion?
In recent years, the size of the commercial telematics market has seen a swift expansion. The projection suggests an increase from $54.85 billion in 2024 to $64.14 billion in 2025, with a compound annual growth rate (CAGR) of 16.9%. Factors that led to growth in the past include initial adoption challenges, the replacement of legacy systems, shifts in consumer behavior, evidenced ROI, and the emergence of IoT and big data.
In the upcoming years, the commercial telematics market size is anticipated to undergo a significant expansion. The market is projected to reach a value of "$134.11 billion in 2029, experiencing a compound annual growth rate (CAGR) of 20.3%. The expansion during the forecast period can be linked to a move towards sustainability, applications specific to different industries, rising demand for real-time analysis, increasing needs for cost efficient operations and the advent of self-driving vehicles. The period under forecast projects major trends including the evolution of connectivity, fleet management enhancement, adherence to safety and compliance norms, advancements in data analytics and AI, and integration with self-driving vehicles.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=10510&type=smp
What are the most significant trends transforming the commercial telematics market today?
The rise in technological progression is a notable trend visible within the commercial telematics market. Firms within this market are sparking innovation with new products to maintain their competitive standing. For example, ATrack Technology Inc., a Taiwan-based manufacturer of telematics hardware, introduced the AK300 LTE vehicle tracker in December 2022, designed to boost the effectiveness of fleet management. The tracker offers real-time vehicle tracking, relaying data like vehicle positioning, mileage, speed, fuel consumption, and engine condition. It also has the capacity to identify abnormal vehicle conditions and negative driving actions like idling and speeding, offering fleet managers the means to initiate preventative maintenance and enhance driver conduct.
Which key market segments comprise the commercial telematics market and drive its revenue growth?
The commercial telematics market covered in this report is segmented -
1) By Type: Solutions, Services
2) By System: Embedded, Tethered, Smartphone Integrated
3) By Provider: Original Equipment Manufacturer (OEM), After market
4) By End User: Transportation And Logistics, Insurance, Healthcare, Media And Entertainment, Vehicle Manufacturers Or Dealers, Government Agencies, Other End-Users
Subsegments:
1) By Solutions: Fleet Management Solutions, Vehicle Tracking Solutions, Driver Behavior Monitoring Solutions, Route Optimization Solutions, Fuel Management Solutions
2) By Services: Installation Services, Consulting Services, Maintenance And Support Services, Data Analytics Services
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=10510
What regions are at the forefront of commercial telematics market expansion?
North America was the largest region in the commercial telematics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global commercial telematics market report during the forecast period. The regions covered in the commercial telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the commercial telematics market?
Major companies operating in the commercial telematics market include Geotab Inc., Masternaut Limited, MiX Telematics Limited, Omnitracs LLC, TomTom International BV, Verizon Communications Inc., American Telephone and Telegraph Company, OnStar Corporation, Bayerische Motoren Werke AG, Zonar Systems Inc., Inseego Corporation, Vontier Corporation, Microlise limited, Solera Holdings Inc., Continental AG, Daimler AG, Karooooo Ltd., Michelin SCA, CalAmp Corp., Fleetmatics Group PLC, Garmin Ltd., Transics International NV, Trimble Navigation Limited, Webtech Wireless Inc., Wireless Matrix Corporation, XRS Corporation, Actsoft Inc., AirIQ Inc., AssetWorks LLC, Autotrac Comércio e Telecomunicações Ltd., Azuga Inc., Blue Tree Systems Ltd., CarrierWeb LLC
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=10510&type=smp
What Is Covered In The Commercial Telematics Global Market Report?
• Market Size Forecast: Examine the commercial telematics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the commercial telematics market for a structured understanding.
• Key Players Overview: Analyze major players in the commercial telematics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the commercial telematics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the commercial telematics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the commercial telematics market.
• Industry Challenges: Identify potential risks and obstacles affecting the commercial telematics market.
• Competitive Landscape: Review strategic developments in the commercial telematics market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Commercial Telematics Market Projected to Surpass $134.11 Billion by 2029 with 20% Annual Growth here
News-ID: 3895656 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Telematics
Construction Equipment Telematics Market Is Booming Worldwide | Rosenberger Tele …
The latest study released on the Global Construction Equipment Telematics Market by AMA Research evaluates market size, trend, and forecast to 2030. The Construction Equipment Telematics market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Download…
Telematics Market SWOT Analysis, Business Growth Opportunities by 2032 | MiX Tel …
The latest Global Telematics Market research report 2022 provides detailed information about the market overview, prevalent trends, demand, and recent developments impacting the market growth during the upcoming years. The Telematics market report also covers the market size, share, potential growth, and market strategy followed by prominent players. This report also includes profiles for major companies within the market. The report focuses on the Telematics Market size, segment share (product…
Drone Telematics Market 2021 Strategic Assessments - Octo Telematics, Verizon Te …
The Global Drone Telematics Market Size, Status and Forecast 2021
The Global Drone Telematics Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances…
Coronavirus Impact Assessment on Insurance Telematics Market 2020-25 Business In …
Telematics car insurance is when your insurance provider monitors your driving habits and adjusts your car insurance premiums based on how you drive. Provider will be able to track things like your driving speed, how you brake and how you handle corners.
The research report on 'Insurance Telematics market' is now available with Market Growth Insight with detailed study on crucial factors, such as drivers, hampering factors, strengths, weakness, trends,…
What's driving the Drone Telematics Market trends? Octo Telematics, Verizon Tele …
Market Research Intellect has recently published a report on the Global Drone Telematics Market, which presents a detailed market analysis and gives accurate market forecasts for the coming years. The study serves as an exhaustive database for any individual or company interested in the Drone Telematics sector, offering essential information about the industry to help readers make strategic investments. The study includes vital information about the market, which is pictorially…
Global Telematics Software Market 2019, Global Telematics Software Market Price, …
Global Telematics Software Market Growth (Status and Outlook) 2019-2024 gives detailed insight, industry knowledge, analytics, and market forecasts for 2019 to 2024 time period. The report provides market-driven results derived from feasibility studies for client needs. The report verifies qualified and verifiable aspects of Telematics Software market data operating in the real-time scenario. The research study aims to assist industry leaders to make confident capital investment decisions, develop strategic plans,…
