A significant rise in the adoption of telematics technology owing to the reducing connectivity and sensor cost is projected to encourage the growth of the global commercial vehicle telematics market in the next few years. The telematics data can be harnessed in order to make better business decisions and strategies. This is estimated to drive the overall market in the near future.
The research report provides a detailed analysis of the global commercial vehicle telematics market, throwing light on the present and future trends and opportunities. The research report also offers an in-depth study of the competitive landscape along with a list of the prominent players operating in the market across the globe. In addition to this, the primary segmentation and the key factors that are driving the growth of the overall market have been discussed in the scope of the report. The potential growth opportunities and challenges faced by the leading players have been mentioned in the report in order to offer a thorough understanding of the overall market.
Global Commercial Vehicle Telematics Market: Trends
The global commercial vehicle telematics market is projected to witness high growth in the coming years. The increasing number of road accidents is one of the major factors accelerating the growth of the global market. Furthermore, the use of smartphones and 4G technology is likely to act as a major opportunity for the market players. The rapid development of the logistics and transportation industries is expected to enhance the growth of the global commercial vehicle telematics market throughout the forecast period.
Global Commercial Vehicle Telematics Market: Geography
Among the key regional segments, Asia Pacific is estimated to register a healthy growth throughout the forecast period. The high growth of this region can be attributed to the rising awareness among consumers regarding safety of drivers and prevention of accidents. In addition to this, the untapped markets are estimated to generate promising growth opportunities for the market players. Furthermore, favorable government rules and regulations are estimated to accelerate the growth of the commercial vehicle telematics market in Asia Pacific throughout the forecast period. The North America market for commercial vehicle telematics is likely to witness significant growth in the next few years.
Global Commercial Vehicle Telematics Market: Companies
The global market for commercial vehicle telematics market is highly competitive in nature and is expected to remain in the similar situation throughout the forecast period. The prominent players operating in the commercial vehicle telematics market across the globe are Tomtom Telematics, Mix Telematics International (PTY) Ltd., Trimble Inc., Verizon Telematics, Inc., Zonar Systems, Inc., Masternaut Limited, OCTO Telematics Ltd, Inseego Corporation, PTC, Inc., Microlise Group Ltd., Omnitracs, LLC, and Volkswagen Commercial Vehicles. Entry of new players is estimated to strengthen the competitive scenario of the global market in the near future.