Commercial Telematics Market to Register a CAGR over 18% during 2017 and 2023

Pune, India, August, 2018/ MRFR Press Release/- Market Research Future published a half-cooked research report on “Global Commercial Telematics Market Research Report - Forecast to 2023”  – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.  

Commercial telematics or Telemetry technology is used extensively in Fleet Communication System (FCS). The global commercial telematics market is growing at the rapid pace; mainly due to the transition towards efficient and low-cost telematics systems.  Acknowledging the fabulous growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global commercial telematics market is expected to reach approximately 42 Bn. USD by 2023, registering around 18% CAGR during the anticipated period (2017 – 2023). Factors substantiating the market include the growing demand for telematics in automotive applications, investments transpired in R&D activities to develop control & communications systems, and utilization of UAV for remote sensing. The integration of this technology across the platforms for a seamless net-centric environment, which enables users to access the real-time data and better accessibility to ground control stations, this, in turn, would contribute to the market growth.

Moreover, growing applications of telematics across some of the burgeoning sectors such as media & entertainment, government agencies, transportation and logistics, insurance, and healthcare among others drive the market growth to an extent. A need for the frequency spectrum in these industries will revolutionize the market in the future providing impetus to the market growth.

Access Report @ https://www.marketresearchfuture.com/reports/commercial-telematics-market-4194

Commercial Telematics Market – Segments

The MRFR analysis is segmented into four key dynamics for an easy grasp.

By Types              : Vehicle Telematics, Fleet telematics, and Insurance Telematics among others.

By Solutions        : Remote Alarm & Monitoring, Navigation and location based, Infotainment, V2v and V2i, and Tele-health among others.

By End- Users      : Media & Entertainment, Government agencies, Transportation and Logistics, Insurance, and Healthcare among others.

By Regions           : North America, Europe, APAC and the Rest-of-the-World (RoW).

Commercial Telematics Market –

Regional Analysis

The North America commercial telematics market dominates the global market with the largest market share owing to the proliferation of self-installed, onboard diagnostics devices that are capturing maximum market.

The commercial telematics market in Europe is expected to witness rapid growth in the years to come. In Europe, the commercial telematics used in the insurance sector has huge market demand. Besides, the well-established automotive industry provides impetus to the market to grow exponentially.

The Asia-Pacific commercial telematics market is emerging as one of the most lucrative markets globally. Markets in countries such as China, Japan, and South Korea are expected to register the highest CAGR during the forecast period.

Commercial Telematics Market – Competitive Analysis

These players emphasis upon spacecraft hardware. Vendors strive to develop compact telemetry systems with the lower costing. Digital maps, which allow visualization of vehicle positions and traces is trending in this market and will play a significant role.

The economic uncertainty is prompting the key players to voice up the interests and concerns about telematics in the sector. To gain the more competitive advantage in the market, these key players require more consolidation and integration of telemetry systems as a whole. Technology providers operating in the market strive to provide a strong, supporting infrastructure with many years of on-time delivery experience.

Key Players:

Prominent players profiled in MRFR Analysis and are at the forefront of the competition in the market are Harman International Industries, Inc. (US), Verizon Communications, Inc. (US), TomTom Telematics BV (Netherlands), Vodafone Group Plc. (UK), AT&T Inc. (US), Ford Motor Company (US), Trimble Inc. (US), Bayerische Motoren Werke AG (Germany), Mix Telematics International Ltd (South Africa), and Telefónica S.A. (Spain). 

Industry/Innovation/Related News:

August 07, 2018 – ARI (US), a leading provider of revolutionized fleet management technology announced the signing of an agreement with Ford Motor Company (US) to provide Ford with the seamless telematics solutions. 

ARI also had announced recently a new data integration service with Ford Commercial Solutions to provide a seamless telematics solution for fleet customers. The said agreement is expected to deliver real-time visibility into the precise operating conditions of vehicles fleet, combining Ford Commercial Solutions’ Data Services product with ARI insights, and ARI’s proprietary fleet management portal.

July 24, 2018 - Ituran Location and Control Ltd. (ITRN - Israel), a leading global provider for stolen vehicle recovery and tracking services, and GPS wireless communications products announced the acquisition of Road Track Holding S.L., a telematics' company operating primarily in the Latin American region. The deal aligns with the Ituran's strategy to acquire a synergistic business to enable the company to accelerate our long-term growth and reach.