The Impact of IoT Integration on the Commercial Telematics Market

Commercial Telematics Industry

OREGAON, PORTLAND, UNITED STATES , March 22, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Commercial telematics Market by Solution Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global commercial telematics market was valued at $16,871 million in 2020, and is projected to reach $63,891.5 million by 2030, registering a CAGR of 14.3% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/235

Increase in trend of connectivity solutions, ease of vehicle diagnosis, and government regulation for vehicle telematics drive the growth of the global commercial telematics market. However, high installation costs, threat of data hacking, and lack of uninterrupted & seamless internet connectivity hinder the market growth. On the contrary, intelligent transportation systems and improved performance of autonomous vehicles are expected to open new opportunities for the market players in the future.

The report segments the global commercial telematics market on the basis of solution type, application, end user, and region.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, the OEM segment held the lion’s share in 2020, accounting for more than half of the market. Moreover, the segment is projected to manifest the highest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟓.𝟎% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟑𝟎. The report analyzes the aftermarket segment.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/commercial-telematics-market/purchase-options

𝐎𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, the solutions segment held the largest share in 2020, contributing to more than three-fourths of the market. However, the services segment is projected to register the highest CAGR of 15.2% during the forecast period.

The global commercial telematics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020 in terms of revenue, accounting for more than one-third of the market. However, the market across Asia-Pacific is expected to portray the highest CAGR of 17.1% during the forecast period.

Advanced diagnostic system is expected to boost the growth of the commercial telematics market. In advanced diagnostics, the on-board system in the vehicle will supply data of the vehicle to both the automobile dealer and the customer, which can help predict potential automobile issues before they take place.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/235

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
Mix Telematics,
Navistar, Inc.,
Trimble Inc.,
Verizon Communications Inc.,
Vontier Corporation,
Fleet Complete,
Geotab Inc.,
Microlise limited,
Solera Holdings, Inc.,
Continental AG,
Daimler AG,
Karooooo Ltd.,
Michelin.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐬𝐜𝐞𝐧𝐚𝐫𝐢𝐨 𝐨𝐟 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐓𝐞𝐥𝐞𝐦𝐚𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

The Covid-19 pandemic severely affected the automotive sector as majority of the manufacturing facilities were closed, which affected to several OEM and supplier factories.

The pandemic affected the revenue streams allocated toward the R&D and adoption of new technologies in the commercial telematics sector. The growing vaccination number and rise in commercial vehicles are expected to boost the growth of the market post-pandemic.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐓𝐞𝐥𝐞𝐦𝐚𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/us-commercial-telematics-market-A10360 – U.S. Commercial Telematics Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (OEM and Aftermarket), Application (Solutions & Services) and End-User (Transportation & Logistics, Insurance, Healthcare, Media & Entertainment, Vehicle Manufacturers & Dealers and Government Agencies): Regional Opportunity Analysis and Industry Forecast, 2020–2027

https://www.alliedmarketresearch.com/china-india-and-southeast-asia-automotive-oem-telematics-market – China, India, Southeast Asia Automotive OEM Telematics Market Size, Share, Competitive Landscape and Trend Analysis Report by Vehicle Type (Passenger Car, HCV, LCV, MCV, and Two-Wheeler) and Application (Solutions and Services): Opportunity Analysis and Industry Forecast, 2019–2026

https://www.alliedmarketresearch.com/consumer-telematics-market – Consumer Telematics Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (OEM, After Market) and Application (Fleet/Asset Management, Navigation and location based, Infotainment, Insurance Telematics, V2v and V2i, Tele-health, Remote Alarm & Monitoring, Services) – Global Opportunity Analysis and Industry Forecast, 2013 – 2020

https://www.alliedmarketresearch.com/automotive-telematics-market – Automotive Telematics Market Size, Share, Competitive Landscape and Trend Analysis Report by Channel (OEM and Aftermarket), Vehicle Type (Commercial Vehicle, Passenger Car, and Two-Wheeler), Application (Fleet/Asset Management, Navigation & Location-Based System, Infotainment System, Insurance Telematic, Safety & Security, V2X, and Others), and Connectivity Solution (Embedded, Integrated Smartphones, and Tethered): Global Opportunity Analysis and Industry Forecast, 2019–2026

https://www.alliedmarketresearch.com/automotive-oem-telematics-market – Automotive OEM Telematics Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering (Hardware, Software and Services), by Application (Infotainment and Navigation, Fleet Management, Safety and Security, Diagnostics), by Vehicle Type (Passenger Vehicles, Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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