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 factors and adjust insurance polici