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 policies accordingly.We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Commercial Telematics Market Trends:

Rapid growth in the automotive sector represents one of the key factors bolstering the market growth. This, in confluence with the widespread adoption of smart transportation systemsacross the globe, is creating a positive outlook for the market. In addition to this, leading automobile manufacturers are integrating technologically advanced connected devices to provide more accurate insights about vehicles. These devices aid in enhancing vehicle efficiency, providing on-road assistance, and facilitating smart route tracking. Furthermore, the innovation of video-based telematics is projected to drive the market.

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Global Commercial Telematics Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

AirIQ Inc., Bridgestone Corporation, General Motors Company, Geotab Inc., Masternaut Limited. (Michelin), Mix Telematics International (Pty) Ltd., Octo Telematics, Omnitracs LLC, Trimble Inc., Verizon Communications Inc. and Zonar Systems Inc. (Continental AG).

The report has segmented the market on the basis on region, type, system type, provider type and end use industry.

Breakup by Type:

• Solution
  • Fleet Tracking and Monitoring
  • Driver Management
  • Insurance Telematics
  • Safety and Compliance
  • V2X Solutions
  • Others
• Services
  • Professional services
  • Managed services

Breakup by System Type:

• Embedded
• Tethered
• Smartphone Integrated

Breakup by Provider Type:

• OEM
• Aftermarket

Breakup by End Use Industry:

• Transportation and Logistics
• Media and Entertainment
• Government and Utilities
• Travel and Tourism
• Construction
• Healthcare
• Others

Breakup by Region:

• North America: (United States, Canada0
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa:(South Africa, Turkey, Saudi Arabia, Others

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