Global Commercial Vehicle Telematics Market is expected to rise from its initial estimated value of USD 8.80 billion in 2018 to an estimated value of USD 39.07 billion by 2026, registering a CAGR of 20.47% in the forecast period of 2019-2026. Increase in the demand for the sensors is the major factor for the growth of this market.
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With the clear understanding of customer requirement, one method or combination of many have been used to construct the most excellent Global Commercial Vehicle Telematics Market research report. The report endows you with complete market analysis and forecasting, market definition, market drivers and market restraints, market share, market segmentation and analysis of key players in the market. While preparing report, markets on the local, regional and global level have been explored. Market shares of the key players in the major areas of the globe such as Europe, North America, Asia Pacific, South America, Middle East and Africa is also studied in Global Commercial Vehicle Telematics Market report.
Telematics is the combination of global positioning system and in- board diagnostics system which is used to monitor the location and movement of a vehicle. It has capabilities like traffic updates, smart routing and tracking, road assistance etc. It also records the speed and internal behaviour of the vehicle. They are usually used by the fleet management companies which they used to exchange information between the commercial vehicle fleet and central authority.
Major Market Drivers:
- Increasing demand for fleet management services and government initiatives for deployment of vehicle tracking
- There is increase in the adoption of the telematics in business
- Concerns related to security and safety is the major factor restraining its growth.
Major Key players profiled in this report are:
PTC, Trimble Inc., Tomtom Telematics BV, Verizon, Mix Telematics, Zonar Systems, Octo Group S.p.A., Omnitracs, Mastenaut Limited, Microlise Telematics Pvt. Ltd, Inseego Corp., Trimble Inc., Volkswagen Commercial Vehicles, HARMAN International, AT&T.
Global commercial vehicle telematics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of commercial vehicle telematics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Segmentation: Global Commercial Vehicle Telematics Market
- Transportation and Logistics
- Media &Entertainment
- Vehicle Manufacturer
- Government Agencies
- North America
- South America
- Rest of South America
Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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