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Commercial Telematics Market is Expected to Reach $144,440.7 Million by 2030

 
 

quote In 2017, by solution type, the OEM segment dominated the global commercial telematics market, in terms of revenue. In addition, based on application, the solution segment is expected to lead the market throughout the forecast period. By end user, the transportation & logistics accounted for the highest revenue in 2017. Presently, North America is the highest revenue contributor, however, Asia-Pacific is expected to garner highest revenue in the global market during the forecast period, followed by Europe, North America, and LAMEA. quote

Akshay Jadhav & Anvay Sonpimple
Lead Analysts, Automotive and Transportation at Allied Market Research

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According to a recent report published by Allied Market Research, titled,"Global Commercial Telematics Market by Solution Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2030,"the global commercial telematics market was valued at $27,069.2 million in 2017, and is projected to reach $144,440.7 million by 2030, registering a CAGR of 13.8% from 2018 to 2030.

At present, North America dominates the market, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global commercial telematics market in 2017, whereas Canada is expected to grow at a significant rate in North America during the forecast period.

Factors such as government regulations for vehicle telematics and rise in trend of connectivity solutions fuel the growth of the commercial telematics market. In addition, ease of vehicle diagnosis boosts the market growth. However, threat of data hacking and high installation cost hinder the market growth. Moreover, unavailability of uninterrupted & seamless connectivity restricts the growth of the market. Conversely, intelligent transportation system and improved performance of autonomous vehicles are anticipated to provide remunerative opportunities for the market expansion.

Key Findings of the Commercial Telematics Market:

  • The OEM segment in solution generated the highest revenue in 2017.
  • In 2017, the solution segment was the highest revenue contributor in the application category.
  • By end user, the transportation & logistics segment generated the highest revenue in 2017.
  • Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

In 2017, North America contributed the highest market revenue, followed by Europe, Asia-Pacific, and LAMEA.

The key players analyzed in this report are Cartrack, Daimler Fleetboard GmbH, Fleet Complete, Geotab Inc., Microlise, Masternaut Limited, Mix Telematics, Navistar Inc., Omnitracs, TomTom International BV, Trimble Inc., Verizon Connect, and Zonar Systemss.

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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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quote Global Commercial Telematics Market by Solution Type (OEM and Aftermarket), Application (Solutions and Services), and End User (Transportation and Logistics, Insurance, Healthcare, Media & Entertainment, Vehicle Manufacturers/Dealers, and Government Agencies): Global Opportunity Analysis and Industry Forecast, 2018 - 2030 quote

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