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Rising Electric Vehicle Adoption Fuels Expansion Of The Commercial Vehicle Telematics Market: The Driving Engine Behind Commercial Vehicle Telematics Market Evolution in 2025
Commercial Vehicle Telematics
Commercial Vehicle Telematics Market Size Growth Forecast: What to Expect by 2025?
The size of the commercial vehicle telematics market has seen significant increase recently. It is predicted to expand from $69.39 billion in 2024 to $79.91 billion in 2025, at a compound annual growth rate (CAGR) of 15.2%. The notable growth observed in the past can be linked to regulatory requirements, enhanced fleet management, operation efficiency and cost reduction, as well as the proliferation of e-commerce and logistics, along with increased demand for instant data and analytics.
How Will the Commercial Vehicle Telematics Market Size Evolve and Grow by 2029?
In the approaching years, the commercial vehicle telematics market size is anticipated to experience accelerated growth, reaching a valuation of $147.03 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 16.5%. The expansion during the anticipated period can be linked to factors such as the increase in connected vehicles, surge in demand for last-mile delivery services, a focus on environmentally friendly and sustainable fleets, proliferation of autonomous vehicles, and the need for predictive maintenance. The forecast period will also witness key trends like improved cybersecurity protocols, a telematics-as-a-service (TaaS) model, telematics usage for electric vehicle (EV) enhancement, real-time traffic administration solutions, and integration with cloud-based platforms.
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What Drivers Are Propelling the Growth of Commercial Vehicle Telematics Market Forward?
The surge in electric vehicle usage is projected to boost the commercial vehicle telematics market in the future. Electric vehicles (EVs), powered through one or multiple electric motors, use electrical energy sourced either from rechargeable batteries or externally. Using telematics to gather and convey data about a vehicle's performance, location, and other elements enhances the efficiency and safety of EVs. For instance, the International Energy Agency, an autonomous intergovernmental organization based in France, reported that electric car sales rose by 3.5 million units in 2023 compared to 2022. Electric vehicles account for roughly 18% of total car sales in 2023, increasing from 14% the previous year. Hence, the mounting demand for electric vehicles fuels the expansion of the commercial vehicle telematics market.
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Which Emerging Trends Are Transforming the Commercial Vehicle Telematics Market in 2025?
Leading enterprises in the commercial vehicle telematics industry are adopting cutting-edge technologies, such as fleet management software, to cater to a wider range of clients, increase sales, and enhance revenue. Fleet management software represents a unique type of technology used to help companies and organizations manage their vehicle fleets efficiently. An example of this is the Ford Pro Fleet Management Software unveiled by Ford Motor Company, a US-based automobile manufacturer, in September 2022. The software's unique feature is its capacity to simplify administrative tasks, replacing complex paperwork with an easily accessible and user-friendly digital system. Built on Fleetio software, the system works with both Ford and non-Ford vehicles and is equipped to handle an unlimited number of fuel payment cards, offers a range of maintenance program options, and smoothly integrates into the broader Ford Pro fleet solutions. This groundbreaking innovation allows for real-time tracking of the entire cost of ownership and digitalization of detailed fleet vehicle reports, thus providing an effective, integrated solution for fleet management.
What Are the Key Segments in the Commercial Vehicle Telematics Market?
The commercial vehicle telematics market covered in this report is segmented -
1) By Type: Solutions, Services
2) By Provider Type: Original Equipment Manufacturer (OEM), After market
3) By Vertical: Transportation And Logistics, Government And Utilities, Travel And Tourism, Construction, Education, Healthcare, Other Verticals
Subsegments:
1) By Solutions: Fleet Management Solutions, Navigation And Routing Solutions, Driver Behavior Monitoring Solutions, Vehicle Tracking Solutions, Maintenance Management Solutions, Other Telematics Solutions
2) By Services: Installation Services, Data Analytics Services, Consulting Services, Customer Support Services, Maintenance And Repair Services, Other Related Services (Training, Software Updates)
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Who Are the Key Players Shaping the Commercial Vehicle Telematics Market's Competitive Landscape?
Major companies operating in the commercial vehicle telematics market include Verizon Communications Inc., Cisco Systems Inc., Continental AG, Navistar International Corporation, Garmin Ltd., Trimble Inc., Tata Motors Limited, PTC Inc., Element Fleet Management Corp, Solera Inc., Samsara Inc., TomTom International BV, Omnitracs LLC, Geotab Inc., CalAmp Corp, Inseego Corporation, Mix Telematics International (Pty) Ltd., Lytx Inc., Zonar Systems Inc., Motive Technologies Inc., Platform Science Inc., Microlise Group PLC, Azuga Inc., Masternaut Limited, Spireon Inc., GPS Insight LLC, NexTraq LLC, Cetaris Co, Telemax Telematics Pty Ltd, AirIQ Inc.
What Geographic Markets Are Powering Growth in the Commercial Vehicle Telematics Market?
Asia-Pacific was the largest region in the commercial vehicle telematics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial vehicle telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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