The Commercial Vehicle Telematics Global Market Report 2023, provides comprehensive information on the commercial vehicle telematics market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/commercial-vehicle-telematics-global-market-report
As per The Business Research Company’s Commercial Vehicle Telematics Global Market Report 2023, the market is expected to grow from $42.38 billion in 2022 to $50.64 billion in 2023 at a compound annual growth rate (CAGR) of 19.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commercial vehicle telematics market is expected to reach $84.83 billion in 2027 at a CAGR of 13.8%.
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Technological advancements are a key trend gaining popularity in the commercial vehicle telematics market. Major companies operating in the commercial vehicle telematics market are developing innovative, advanced technologies to sustain their position in the market. For instance, in July 2020, Tata Motors Limited, an India-based automobile manufacturer, launched Fleet Edge, an innovative next-generation digital solution for optimal fleet management for commercial vehicles. It is a cloud-based solution that can be accessed from anywhere and makes it easy for fleet managers to monitor their fleets and get the information they need to make informed decisions. Additionally, it features real-time location tracking, driver behavior monitoring, fuel management, maintenance tracking, and compliance reporting.
The commercial vehicle telematics market is segmented:
1) By Type: Solutions, Services
2) By Provider Type: Original Equipment Manufacturer (OEM), Aftermarket
3) By Vertical: Transportation And Logistics, Government And Utilities, Travel And Tourism, Construction, Education, Healthcare, Other Verticals
Asia-Pacific was the largest region in the commercial vehicle telematics market in 2022.
The table of contents in TBRC’s commercial vehicle telematics market report includes:
1. Executive Summary
2. Commercial Vehicle Telematics Market Characteristics
3. Commercial Vehicle Telematics Market Trends And Strategies
4. Commercial Vehicle Telematics Market - Macro Economic Scenario
5. Global Commercial Vehicle Telematics Market Size and Growth
.......
32. Global Commercial Vehicle Telematics Market Competitive Benchmarking
33. Global Commercial Vehicle Telematics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Commercial Vehicle Telematics Market
35. Commercial Vehicle Telematics Market Future Outlook and Potential Analysis
36. Appendix
Top Major Players:
Verizon Communications Inc.
Cisco Systems Inc.
Continental AG
Navistar International Corporation
Garmin Ltd.
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According to a new report "Commercial Vehicle Telematics Market by Solution (Fleet Tracking and Monitoring, Driver Management, Insurance Telematics, Safety and Compliance, and V2X Solutions), Service, Provider Type, Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets, the Commercial Vehicle Telematics Market size is expected to grow from USD 7.31 Billion in 2017 to USD 18.43 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.3%.
Browse 81 Market Data Tables and 34 Figures spread through 148 Pages and in-depth TOC on "Commercial Vehicle Telematics Market”Ask for Report Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=22050839The major driver of the Commercial Vehicle Telematics Market is the increasing adoption for the Next-Generation Telematics Protocol (NGTP) enhancing telematics service delivery, proliferation of telematics technology due to decreasing sensor and connectivity cost, growing government mandate for deploying vehicle tracking in commercial vehicles, and rising demand for smartphones supplements the adoption of telematics solutions and services.Safety and compliance solutions are expected to grow at the fastest rate in the Commercial Vehicle Telematics Market during the forecast period.Safety and compliance solutions are expected to drive the market growth since the safety and security aspect has been one of the initial functionalities of the commercial vehicle telematics.
Solution providers offer solutions which integrate the compliance aspect into solutions to facilitate speed control, timeline reporting, laws and regulation control and others to incorporate government mandates and regulations of commercial vehicle telematics technology.Professional services segment is expected to have the largest market share during the forecast period.The professional services segment is expected to have the largest market share during the forecast period owing to the increased deployment of smart solutions which requires technological consulting, and continuous support and maintenance activities.
Moreover, government bodies normally prefer professional services vendors over managed services vendors to keep a tight control over the business operations, such as deployment and support and maintenance.North America is expected to hold the largest market share in the Commercial Vehicle Telematics Market during the forecast period.As per the geographic analysis, North America is estimated to hold the largest market share during the forecast period.
North America constitutes of developed economies such as US and Canada.
Moreover, government regulations, policies and mandates for the different application of commercial vehicle telematics is expected to drive the market growth in North America.Request Sample Pages of this report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=22050839The major vendors covered in the Commercial Vehicle Telematics Market include PTC, Inc. (US), Trimble Inc. (US), TomTom Telematics BV (Netherlands), Verizon Telematics, Inc. (US), MiX Telematics International (Pty) Ltd (South Africa), Zonar Systems, Inc. (US), Octo Telematics Ltd. (UK), Omnitracs, LLC (US), Masternaut Limited (UK), Microlise Limited (UK), Inseego Corporation (US), and Volkwagen Commercial Vehicles (UK).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
