Global Commercial Telematics Market is expected to grow at a compound annual growth rate of 20.28% over the forecast period to reach US$51.289 billion by 2021, growing from US$20.375 billion in 2016. Telematics are information and telecommunication products which combine telecommunication and computer services in order to transfer a large amount of real-time data in vehicles. Factors such as high penetration of smartphones, availability of high-speed internet connectivity, and low connectivity cost are driving the demand for commercial Telematics across various end-use industries. Stringent government regulations regarding safety compliance mandates, driver monitoring, and road infrastructure constraints have made installation of GOS trackers and satellite navigation, thereby bolstering the growth of global commercial Telematics market. Fleet/Asset management solutions hold the largest share of global commercial Telematics market owing to the high volatility of fuel prices worldwide. Growing demand for immediate healthcare facilities will provide a great opportunity for the expansion of global commercial Telematics market by way of increasing need for connected vehicles.
Geographically, North America held the largest market size in 2015 and will continue its dominance due to early adoption of the new technology in transportation and logistics sector along with other industry verticals. APAC region, however, will witness the fastest regional market growth owing to booming automobile industry coupled with supportive government regulations in the region. Low awareness regarding the solution benefits among commercial fleet owners will restrain the growth of global commercial Telematics market during the forecast period.
First section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of commercial telematics. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.
Thirdly, Commercial Telematics market has been segmented by solution, industry vertical and geography as below:
Navigation and Location Based Systems
Safety and Security
By Industry Vertical
Media and Entertainment
Europe Middle East and Africa
Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are AT&T, BMW, Harman, and Trimble Navigation Ltd. among others.