Fleet Telematics Market, By Component (Solutions (Smartphone, Portable, and Embedded) and Services (Professional Services and Managed Services)), By Deployment type (On-Premises and Cloud), By Fleet Type (Commercial Fleet, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Passenger Cars, Internal Combustion Engine and Electric Vehicles) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029

Telematics is a type of technology that allows you to track a variety of data about a single vehicle or an entire fleet. Telematics systems collect and visualise data such as vehicle location, driver behaviour, engine diagnostics, and vehicle activity on software platforms that assist fleet operators in managing their resources. To provide fleet operators with the information they need to manage i.e. their fleet, fleet telematics collects a variety of data using GPS technology, sensors, and vehicle engine data. Through geofencing, the Global Positioning System (GPS) technology provides live insight over vehicle location, speed, and movement within locations of interest. Most important factors which allows to track variety of data are sensors and engine diagnostics. Sensors — allow data on driver behaviour to be captured, such as aggressive acceleration, harsh braking, and unpredictable cornering. However, sensors can also be used to monitor any in-vehicle activity, such as door opening, tail lift rising, and even trailer temperature. Engine diagnostics – these systems leverage data straight from the in-car diagnostics system to collect real-time data on fuel efficiency and vehicle odometer readings to power digital fleet maintenance. The Fleet Telematics Market accounted for US$ 7.45 billion in 2020 and is estimated to be US$ 44.68 billion by 2030 and is anticipated to register a CAGR of 19.8%.

Impact of Covid-19 pandemic on market

COVID-19 had an impact on the global economy as well as the healthcare industry. Energy, oil and gas, transportation and logistics, manufacturing, and aviation are among the financial and industrial sectors where it has had a large economic influence. The world economy is expected to enter a recession as a result of the loss of trillions of dollars. Economic activity is diminishing as a result of an increasing number of countries implementing and prolonging lockdowns, which will have an impact on the global economy. Every individual and government, including federal, state, central, local, and provincial governments, has been in continual contact with one another in society to supply and receive real-time information on COVID-19.

Fleet owners have increased focus on operational efficiency

Every industry strives for maximal output at the lowest possible cost. Fleet costs account for a significant amount of a company operational expenses for fleet management. By optimising routing, maintaining vehicle security, promoting driver safety, and improving fleet vehicle performance and life cycle, fleet management solutions help fleet owners improve profit. It also aids in the visualisation of fleet performance and the identification of which drivers or cost-cutting categories should be prioritised for development. Fleet management assists managers in right-sizing fleet cars, maintaining them, minimising fuel prices and distance travelled, changing driver behaviour, and lowering overhead costs. For fleet owners, the advantages increase the cost-effectiveness of business operations, giving them a competitive advantage.

Atmospheric inference causing issues in GPS connectivity

One of the biggest issues preventing GPS connectivity is atmospheric inference. For the GPS system to work, it must provide an accurate location. The most up-to-date navigation service, such as Google Maps, also provides a 3-10 metre accurate location. These services also perform best under particular parameters, such as customers being in optimum conditions, being outdoors rather than indoors, being in a metropolis, and having strong internet access. To reach the cell phone, the GPS signal must travel vast distances through the atmosphere and pass through several satellites. Receiving data from at least 3-4 satellites and up to 7-8 satellites is required to obtain accurate data. There are also some natural barriers, such as large buildings in cities, trees, mountains, ridges, etc. in short, it becomes harder to get an accurate GPS signal

The global fleet telematics market is segmented by Components, Deployment Type, Fleet Type and Region.

On the basis of Components, the Global Fleet Telematics Market is segmented into Solutions (Smartphone, Portable, and Embedded) and Services (Professional Services and Managed Services). On the basis of Deployment Type, the target market is segmented into On-Premises and Cloud. Based on Fleet Type, the market is segmented into Commercial Fleet, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Passenger Cars, Internal Combustion Engine and Electric Vehicles.

Regional Insights:  

On region the Global Fleet Telematics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the projected period, APAC is expected to grow at the fastest rate. In terms of the use of new technology across many sectors, the region is undergoing rapid transformation. The expansion of APAC infrastructure, particularly in Japan, South Korea, Australia, Singapore, China, and India. The region's untapped market strength, increased awareness about driver safety and accident prevention, upcoming regulations to improve road safety, growth in the transportation and logistics industries, and the advent of 4G LTE technology and smartphones are all driving the growth of the fleet management market in Asia Pacific.

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 2019 to 2029. For the purpose of this study, has segmented the Global Fleet Telematics Market report based on Component, Deployment type, Fleet type and Region.

Global Fleet Telematics Market, By Region:

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

The key players operating in the Global Fleet Telematics Market includes Actsoft, Ctrack an Inseego company, Daimler Fleetboard GmbH, Deere & Company, Fleetmatics Group PLC, HARMAN International, KORE Wireless, Masternaut Limited, MiX Telematics, Sprint Corporation, TomTom International BV, Trimble Inc. and Verizon. In May 2020, MiX Telematics, a global fleet and mobile asset management solution, has announced that Post Office, a leading UK retailer, has renewed its contract with the company. Postal services, banking services, broadband and home phone, foreign currency, and travel insurance are among the more than 170 products and services offered by the organisation.

• Actsoft
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Ctrack an Inseego company
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Daimler Fleetboard GmbH
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Deere & Company
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Fleetmatics Group PLC
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• HARMAN International
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• KORE Wireless
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Masternaut Limited
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• MiX Telematics
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Sprint Corporation
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies