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

Telematics is the combination of telecommunication and informatics used to store and receive the information which is carried from telecommunications devices to remote objects over the network. Telematics are of two types, TCU (Telematics Control Unit) and TGU (Telematics Gateway Unit). They are found in manufacturing of vehicles. Telematics are expensive but gives a larger ROI (Return on Investment). Telematics have wide variety of applications like tracking trailers and quasi assets, vehicle tracking, safety tracking, insurance risk evaluation and vehicle maintenance and product lifestyle monitoring. TomTom Telematics is the largest telematics company which is a leading provider of telematics solution with 350,000 subscriptions worldwide. Telematics helps in identifying fuel leakage, and allows them to resolve quickly by assisting fleet managers. Telematics helps in assisting the most effective route for each driver which saves mileage. New safety objectives, improvements in driving are implemented by Telematics. Telematics had become an essential component of all fleet operations. Bluetooth powered Telematics devices are used on cars dashboard to collect and share data about the driving behavior to the insurer.

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%.

Rise in transportation industry, disposable income and rate of urbanization

Rise in transportation industry has become the major factor in growth of commercial telematics market. Increase in developing economies, growth in trade related agreements, and advancement in information technology is the reason for growth of transportation. Disposable income of an individual is one of the leading factors for the  commercial telematics market growth. Disposable income allows the consumer to enhance their lifestyle and spend more on luxury vehicles. In 2020, about 62% of cars equipped with an OEM Telematics are sold worldwide. Moreover, increasing urban population is one of the driving factors for the commercial telematics market. Urban culture affects the person’s living lifestyle. According to data published by United Nations in 2014, about 54% of the world’s population resided in urban areas, and it is projected that this percentage will increase over the forecast period. However, the growth in transportation and urbanization boosts the demand for commercial telematics.

                                              Technological advancement

Manufactures involved in commercial telematics market are developing advanced versions of their products due to new age technological advancements. Technological advancement in GPS technology and OBD benefit the user by minimizing fuel costs, increased productivity, theft recovery, lower operational costs, improved safety and accidental alerts. The new technological development has enhanced the user for use of Telematics in vehicles. However, new advancement has led to increase in Commercial Telematics Market growth. For instance, in 2021, the MSIL (Maruti Suzuki India Ltd) has introduced the advanced Telematics technology, ‘Suzuki Connect’ in its mass segment where vehicles are sold through the ARENA retail channel. Suzuki Connect is an advanced Telematics that uses internet & wireless connectivity which provides the users - geo fence, security alerts and vehicle status.

Restrains:

However, bad driving habits will increase the cost and end up paying more money on insurance premium may somewhat restrain the growth of the target market.

Commercial Telematics Market is segmented based on type, application, and region.

On the basis of type, the Commercial Telematics Market is segmented into Bluetooth, Smartphone, Black box, OEM (Original Equipment Manufacturer), OBD (On-board Diagnostics), and others. On the basis of application, the target market is classified into Onboard Connectivity Services, Logistics & Transportation, Automobile Insurance, Vehicle Tracking, and others.

Regional Insights:

On region the Commercial Telematics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as India and China, and technological advancements. Moreover, rising presence of industrial corridor is anticipated to increase demand for Commercial Telematics in the region.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Commercial Telematics Market report based on type, application, and region:

Commercial Telematics Market, By Type:

• Bluetooth
• Smartphone
• Black box
• OEM (Original Equipment Manufacturer)
• OBD (On-board Diagnostics)
• Others

Commercial Telematics Market, By Application:

• Onboard Connectivity Services
• Logistics & Transportation
• Automobile Insurance
• Vehicle Tracking
• Others

Commercial Telematics Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating 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. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in 2019, BlackBerry and LG expands the partnership to drive the advancements in connected and autonomous vehicle technology for automotive OEMs & suppliers all over the world with built of telematics system for multiple OEMs, next generation digital consolidated cockpits, digital instrument clusters, and digital consolidated cockpits.

• LG Electronics*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• 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.
• AirlQ Inc.
• Systems and Technology Corp.

 “*” marked represents similar segmentation in other categories in the respective section