Commercial Telematics Market 2022: Global Size, Share, Growth, Top Companies and Forecast to 2027
According to the recent report by IMARC Group, titled “Commercial Telematics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global commercial telematics market size reached a value of US$ 46 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 129.3 Billion by 2027, exhibiting at a CAGR of 19.4% during 2022-2027. Commercial telematics comprises technological solutions that facilitate the long-distance transmission of information in commercial vehicles. It is a methodology of monitoring the location and movement through global positioning systems (GPS) and on-board diagnostic systems and tracking the speed and internal behavior of vehicles. It is also utilized for tracking trailer and non-powered assets and informing the fleet manager in case of any unauthorized movement. Consequently, it is used by insurance providers to monitor driver behavior and helps them determine risk factor...