Published Date: May 2024
Telematics is a communication technology. Telematics is used in automobile industry that provides information generated from vehicles by wireless network. Telematics insurance gives the insights to improve the personal driving habits. Telemetry is used in healthcare industries as it provides only sensor readings and data which is obtained. Cars like Mercedes Benz, Citroen, BMW, Vauxhall and Peugeot has Telematics as a standard. Telematics helps in collecting information like driver behavior, vehicle location, vehicle activity, and engine diagnostics then visualize this collected data on software that will help in fleet operating management. Telematics helps in tracking speed of vehicles by using GPS technology. Fleet management companies, automobile insurance companies and others use Telematics to monitor the location and behavior of the vehicles. Black box insurance fitted in car measures the aspects of how and where you drives which is used in services like theft recovery and accident alert. Use of Telematics in Insurance companies offers the safe - driving rewards, personalized driving feedback, potential saving on car and provides insurance policy for safe driving. Increase in transportation industries has given rise in use of telematics which will help in growth of target market.Commercial Telematics Market size accounted for US$ 28.4 billion in 2020 and is estimate to be US$ 182.67 billion by 2030 and is anticipated to register a CAGR of 21.9%.
The report “Commercial Telematics Market, By Type (Bluetooth, Smartphone, Black box, OEM (Original Equipment Manufacturer), OBD (On-board Diagnostics), and Others), By Application (Onboard Connectivity Services, Logistics & Transportation, Automobile Insurance, Vehicle Tracking, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
- In 2021, Telemetric interventions has offer the new opportunities for managing Type 1 Diabetes Mellitus. Telemetry helps in acquisition of data of patients via telecommunication system, which has gained importance in application in eHealth.
- In 2020, OEMs focusing on bringing design and R&D to India by Sasken Technologies. Based on four key areas like telematics, ADAS & body electronics, infotainment the company is betting to drive growth in automotive sector which will account for overall fifteen percent of annual revenue.
Analyst View:
Telematics innovation is growing around the world, owing to recent advancements in technology. The benefits of commercial Telematics in efficiency & productivity, payroll management, promoting proactive vehicle maintenance, streamlines in organizational & customer communications, reducing fuel and operational expenses has increase the use of Telematics which is driving the boosts growth in Commercial Telematics Market. However, more specified effects of telemetry should be analyzed in healthcare management which will able to provide detail cohorts and rise in target market. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Commercial Telematics Market, By Type (Bluetooth, Smartphone, Black box, OEM (Original Equipment Manufacturer), OBD (On-board Diagnostics), and Others), By Application (Onboard Connectivity Services, Logistics & Transportation, Automobile Insurance, Vehicle Tracking, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
Key Market Insights from the report:
Commercial Telematics Market size accounted for US$ 28.4 billion in 2020 and is estimate to be US$ 182.67 billion by 2030 and is anticipated to register a CAGR of 21.9%.Commercial Telematics Market is segmented based on Type, Application and Region.
- Based on Type, Commercial Telematics Market is segmented into Bluetooth, Smartphone, Black box, OEM (Original Equipment Manufacturer), OBD (On-board Diagnostics), and others.
- Based on Application, Commercial Telematics Market is segmented into Onboard Connectivity Services, Logistics & Transportation, Automobile Insurance, Vehicle Tracking, and others.
- By Region, the Commercial Telematics Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Commercial Telematics Market:
The prominent players operating in the Commercial Telematics Market includes, Michelin, Mix Telematics International (Pty) Ltd., Trimble Inc., Geotab Inc., Verizon Communications Inc., Solera Holdings Inc., Navistar Inc., Daimler AG, Fleet Complete, Masternaut Limited., Continental AG, TomTom Telematics BV, Omnitracs LLC, Inseego Corporation, Octo Telematics Ltd., Volkswagen Commercial Vehicles, Bridgestone Corporation, Google Inc., Zonar Systems Inc., Cisco Systems Inc., LG Electronics Inc., AirlQ Inc., Systems and Technology Corp., etc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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- Explains an overview of the product portfolio, including product development, planning, and positioning
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- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period.
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