With the emergence and long-term Impact of COVID-19, Global Commercial Vehicle Telematics Market to reach USD XXX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Commercial Vehicle Telematics Marketis poised to raise up to USD XXX Billion by 2030. Commercial Vehicle Telematics is a technology that combines telecommunications and informatics to provide remote communication and control of commercial vehicles. It involves the use of various devices, such as GPS, sensors, and communication technologies, to track and monitor the location, behavior, and condition of vehicles in real-time. The data collected from commercial vehicle telematics can be used for a variety of purposes, including fleet management, driver behavior monitoring, fuel consumption tracking, and maintenance scheduling. It can also help improve safety, efficiency, and productivity in commercial fleets. The key factor driving the market growth is rising government mandate for deploying vehicle tracking in commercial, increase in demand for smartphones supplements the adoption of telematics solutions and services, and growing demand for the connected trucks is anticipated to create the lucrative demand for the market during forecast period.
Geographically, the global Commercial Vehicle Telematics Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America is the dominating region across the world in terms of market share, owing to presence of key market players and the high adoption rate of connected commercial vehicles and electromobility in the region. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as rising demand for the connected trucks, availability of a strong automotive and transportation industry, and cohesive government initiatives for the adoption of telematics solution in commercial vehicles would create lucrative growth prospects for the Commercial Vehicle Telematics market across Asia Pacific region..
The global Commercial Vehicle Telematics Marketis highly competitive owing to the presence of several key manufacturers such as PTC, Inc, Trimble Inc., TomTom Telematics BV, Verizon Telematics, Inc., Mix Telematics International (Pty) Ltd, Zonar Systems, Inc., Octo Telematics Ltd., Omnitracs LLC, Masternaut Limited, Microlise Group Ltd. and others.
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Key findings of the study suggest:
- Global Commercial Vehicle Telematics Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the Type segment, Solution has emerged out as the leading market segment in 2022.
- In the Provider Type Segment, OEM has emerged out as the leading market segment in 2022.
- In the Vertical, Transportation and logistics has emerged out as the leading segment in 2022.
- North America is anticipated to drive regional growth owing to presence of key market players and the high adoption rate of connected commercial vehicles and electro mobility in the region.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2020-2027.
Bizwit Research & Consulting has considered following segments for the study:
Type:
- Solution
- Service
Provider Type:
- OEM
- Aftermarket
Vertical:
- Transportation and Logistics
- Media and Entertainment
- Government and Utilities
- Travel and Tourism
- Construction
- Healthcare
- Education
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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