Commercial Telematics Market to Reach US$46.18 bn by 2020, Increasing Penetration of Telematics in Healthcare to Drive Growth

Commercial telematics is a technology that connects computers and telecom services and allows the transfer of large amounts of information in vehicles in real-time. The telematics products utilized by light, medium, and heavy commercial vehicles are the key components of the global commercial telematics market. The rising trend of strategic partnerships between telematics service providers and automobile manufacturers has boosted this market significantly over the past few years. The increasing penetration of this technology in various other industries such as healthcare and insurance is likely to provide an opportunity-rich market to participants in the near future.

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The report studies the global commercial telematics market on the basis of the type, application, end user, and the region. Based on the type, the market has been classified into aftermarket telematics and OEM telematics. In 2013, the aftermarket telematics segment led the global market with a share of approximately 59%. However, the OEM telematics segment is expected to register the highest growth in the market over the forecast period.

Based on application, the study classifies the global market into satellite navigation, fleet/asset management, infotainment, telehealth solutions, insurance telematics, remote alarm and monitoring and other application. The fleet/asset management segment emerged as the biggest application area for commercial telematics in 2013, holding a share of 30%. However, the insurance telematics segment is likely to register the fastest CAGR of 34.70% during the forecast period.

The healthcare, transportation and logistics, construction, insurance, government and utilities, and manufacturing industries have been identified as the major end users of commercial telematics in this research report. The demand for commercial telematics is the highest from transportation and logistics segment. In 2013, the segment accounted for a share of 55% in the overall demand generated in the market. Analysts expect this trend to continue over the forecast period, notes the study.

Regionally, the global market for commercial telematics has been segmented into Asia Pacific, Europe, North America, and the Rest of the World. North America dominated the overall market in 2013. The high adoption rate of commercial telematics solutions in various sectors such as government, logistics, transportation, and utilities owing to the soaring internet penetration in this region, has propelled this market in North America significantly in the recent past. However, Europe is likely to record the fastest growth in this market during the forecast period. eCall and several other initiatives by the European Union are likely to fuel the demand for commercial telematics in this region over the next few years.

The market for commercial telematics is also expected to gain impetus in Asia Pacific as the demand from economies such as Japan, India, China, and Australia is likely to increase in the coming years, states the market report.

Analysts have also performed a competitive analysis on the major participants in the worldwide market for commercial telematics in this study. By applying analytical tools such as SWOT analysis on companies, they have determined strengths and weaknesses of the companies profiled in the report. The analysis also provides insights into opportunities and threats that these companies are likely to witness in the near future.

OnStar LLC, Trimble Navigation Ltd., TomTom N.V., Masternaut Ltd., ORBCOMM Inc., WirelessCar AB, Verizon Communications Inc., Omnitracs LLC, and MiX Telematics Ltd. are the leading market players, mentioned in this research report.

The global commercial telematics market is segmented into:

By Type

OEM Telematics
Embedded OEM Systems
Hybrid OEM Systems
Aftermarket Telematics
Embedded Aftermarket Telematics
Portable Aftermarket Telematics

By Application

Fleet / Asset Management
Satellite Navigation
Infotainment
Insurance Telematics
Telehealth Solutions
Remote Alarm and Monitoring
Others

By End User

Transportation and Logistics
Healthcare
Construction
Government and Utilities
Insurance
Manufacturing

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