The global commercial telematics market size was USD 34.79 billion in 2020. The market is projected to grow from USD 40.18 billion in 2021 to USD 158.31 billion in 2028 at a CAGR of 21.6% in the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “Commercial Telematics Market, 2021-2028.”According to our analysts, the increasing penetration of telematics in developing countries across the globe is dramatically fueling market growth.

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Furthermore, government guidelines concerning fleet management and road protection are anticipated to thrust market growth in the upcoming years. Moreover, the implementation of commercial telematics is promptly rising among fleet owners, insurers, and OEMs to achieve real-time visions from the automotive such as location, braking, speed, fuel usage, and engine temperature, among others to refine the fleet proficiency and driver performance.

List of Key Players Covered in this Market Report

Geotab 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.
Inseego Corporation
Volkswagen Commercial Vehicles
Continental AG
Industry Development

June 2021: Ford procured Electrophile, which is a battery management and fleet monitoring software, provider. Ford owns two electric vehicles in the pipeline, F-150 Lighting Pro & E-Transit cargo van, intended to object commercial clients.

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Drivers and Restraints

Declining Price of Sensors to Fuel Acceptance of Commercial Telematics

Reducing costs of the automotive sensors and telematics gadgets are driving their implementation in trucking and fleet management industries of developing nations such as India, and South Korea, among others.

Therefore, growing demand for commercial telematics in the medium, as well as large scale industries in these regions, is projected to enhance the commercial telematics market growth over the forecast period. Furthermore, technological progressions in the production procedures of these gadgets also empower the manufacturers to deliver telematics devices at reasonable costing, which further impacts the market.

Competitive Landscape

Verizon Connect delivers a wide variety of telematics software. Its solutions comprise fleet dash-cam software, root optimization software, driver management & safety software, fleet tracking software, road assistance software, and others.

Moreover, in January 2018, Verizon Connect procured Movildata Internacional, which is a Spain-headquartered commercial fleet management solutions supplier. Through this procurement, the company fortified its spot in Europe through a regional extension approach.

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Regional Insights

North America held the largest commercial telematics market shares and dominated the market in 2020 with a market size worth USD 11.50 billion. North America has the biggest penetration of telematics in comparison with other regions.

Europe held the second-largest market share in 2020. The robust existence of telematics in principal nations, comprising the U.K. and Italy, fuels the market growth.

Asia Pacific is estimated to observe speedy growth with a CAGR of 25.9% over the forecast period. Rising penetration of telematics in developing economies such as China, India, Japan, and South Korea are projected to augment growth in the region.

Table Of Content:

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Porter’s Five Forces Analysis
SWOT Analysis
Technological Developments
Distribution of Commercial Telematics Market - By Application (in Value)
Impact of COVID-19
Global Commercial Telematics Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Solutions
OEM
Aftermarket
Market Analysis, Insights and Forecast – By Application
Solutions
Services
Market Analysis, Insights and Forecast – By End-User
Transportation and Logistics
Insurers
Healthcare
Media & Entertainment
Vehicle Manufacturers/Dealers
Government Agencies
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Rest of the World
North America Commercial Telematics Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Solutions
OEM
Aftermarket
Market Analysis, Insights and Forecast – By Application
Solutions
Services
Market Analysis, Insights and Forecast – By End-User
Transportation and Logistics
Insurers
Healthcare
Media & Entertainment
Vehicle Manufacturers/Dealers
Government Agencies
Market Analysis, Insights and Forecast – By Country
United States
By Application
Solutions
Services
Canada
By Application
Solutions
Services
Mexico
By Application
Solutions
Services
TOC Continued…

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