Commercial Vehicle Telematics Market Revenue Expected to Drive Overall Indu

Commercial Vehicle Telematics Market Industry News

Trimble Inc. is a reputed company and a key player in the commercial vehicle telematics industry. In March 2022, they tied up with Qualcomm to introduce the accuracy of meter-level location, especially for smartphones.

Commercial Vehicle Telematics Market Market Overview

The report is a brief understanding of how the global commercial vehicle telematics market is growing at a constant pace. The report sheds its light on market segmentation, which is a general description of different elements that make this a successful industry. Apart from that, this report also highlights the regional analysis with information on which region has the maximum domination over the entire industry. All of these factors collectively determine the high rise in market size for the commercial vehicle telematics industry.

In the current years, the worldwide commercial vehicle telematics market size anticipates a larger market than it did throughout the previous projected era. The growth rate that was observed at the time this forecast was made is 18.5% CAGR.

One approach to tracking the movement and location of vehicles is telematics. It makes ideal use of a combination technology that combines GPS with an on-board diagnostic system. Advanced telematics records and transmits car data using wireless devices and the black box concept. It provides details on things like speed, service requirements, and maintenance requirements. Additionally, this system compares the data with your car's internal behavior.

The software operates with one another by connecting to the telematics devices installed within a vehicle. It includes GPS technology, mobile applications, sensors, GPS technology, vehicle engine diagnostics solutions, dash cams, etc. The global commercial vehicle telematics market refers to the solutions and services adopted to control and monitor the commercial vehicle using a specific device. The information gets exchanged between the central authority and the commercial vehicle fleet, which helps them determine which vehicle needs maintenance or service assistance during the fleet.

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Key Players

· PTC Inc.

· Trimble Inc.

· TomTom Telematics BV

· Verizon Telematics Inc.

· Mix Telematics International (PTY) Ltd.

· Zonar Systems Inc.

· OCTO Telematics Ltd.

· Omnitracs LLC

Market Segmentation

Based on the type segmentation, the global commercial vehicle telematics market is categorized into different offerings, such as solutions and services.

Based on the provider type segmentation, the global commercial vehicle telematics market is offered to the end-users through aftermarket or OEM providers.

Based on the end-user or vertical segmentation, the global commercial vehicle telematics market is being adapted by several sectors. The verticals or end-users include Government & Utilities, Transportation & Logistics, Travel & Tourism, Education, Healthcare, Construction and others.

Regional Classification

The regional spread of the global commercial vehicle telematics market has given growth potential to key players all across the globe. The regions where this industry is performing to the best of its potential are North America, Asia Pacific and Europe. The other parts of the world are also contributing to the collective revenue generation of this market.

The Asia Pacific is expected to generate the highest demand peak in the present forecast years. As a result, it will dominate all of the other regions of the world in terms of growth and revenue. The key players across other regions are also putting up collective effort to set up the market on a thriving stage.

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Segmentation

By Type

· Solutions

· Services

By Provider Type

· Oem

· Aftermarket

By Vertical

· Transportation & Logistics

· Government & Utilities

· Travel & Tourism