LBSZone - Location and Privacy

Location Technology, Privacy, & Security

  • NEWS
    • Business
    • mobile mapping
    • fleet management
    • iOS
    • Android
    • Developer
    • infographics
  • Features
    • AroundtheWeb
  • Telematics
  • Drones
  • Events
  • Blog
  • CAREERS
    • Work from home
  • Subscribe
    • Weekly Newsletter
    • LBSzone Daily News Update
    • LBSzone PR Contacts
    • RSS
  • About Us
    • Partners Sites
      • GISuser
      • GeoJobsBIZ
      • LiDAR news
      • Amerisurv
    • Advertise
    • LBSzone Online Media Kit
    • Event Media Partner
You are here: Home / Press / Research / Global Commercial Telematics Market is Expected to Reach Around $ 49.12 Billion, by 2020

Global Commercial Telematics Market is Expected to Reach Around $ 49.12 Billion, by 2020

April 27, 2015 By LBSzone

According to a new report by Allied Market Research entitled, “Global Commercial Telematics Market (Type, Application, End- User and Geography) – Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 – 2020”, the global commercial telematics market is expected to reach $49.12 billion by 2020, at an estimated CAGR of 18.4 % during the forecast period (2014 – 2020). The study includes an analysis of drivers, restraints, opportunities and competition, in the key geographies which include in North America, Europe, Asia-Pacific (APAC) and Latin America, Middle East, Australia (LAMEA).

To view the report, visit the website at http://www.alliedmarketresearch.com/commercial-telematics-market

Aftermarket, a segment categorized on the basis of type of telematics, is expected to grow swiftly and remain the largest revenue generator, contributing to over 50% of the total market revenue throughout the forecast period (2014-2020). In addition, fleet/asset management as an application segment, is the highest revenue-generating solution, contributing about 50% of the total commercial telematics solutions market revenue. In certain economies like Brazil and China, the government legislations mandate the adoption of telematics given the rising concern of vehicle tracking and safety and security, thereby driving the demand for telematics solutions.

Telematics industry has grown from traditional navigation services to broadened scope in vehicle tracking, monitoring, fleet management, location-based services and traffic and weather information. The report segments the market by type viz., automotive OEM and aftermarket. Among these, the automotive OEM is expected to grow at a higher rate given the technological alliance between telematics service providers and device manufacturers due to its varied application in many verticals including healthcare, media and entertainment, insurance and logistics. Transportation and logistics segment is observed to have the largest share in the total market size by revenue in 2013 and will remain the largest revenue-generating end user segment given the need for vehicle diagnostics and vehicle tracking etc. The technology is also witnessing increased adoption from sectors such as insurance and healthcare.

Key findings of the study:

The growth of the global commercial telematics market would be supplemented by the increased adoption across key sectors such as Logistics and transportation, Insurance, Media and Entertainment and Healthcare during the forecast period (2014 – 2020)

The need for vehicle tracing, safety and security, government regulations would continue to positively drive the global commercial telematics market over the analysis period (2014-2020)

Fleet/Asset management solution is one of the most prominent solutions present in the market. It led the market with a share of almost 50% of the global telematics market, followed by Insurance telematics solution and expected to remain dominant in our analysed period.

Asia-Pacific as well as LAMEA is forecast to be one of the most lucrative markets, in terms of growth given the supportive government regulations and the growing automotive market

The report also outlines the competitive environment of the commercial telematics market, providing a comprehensive comparative study of the key organic and inorganic strategies that the market leaders are adopting to achieve an edge over their competitors. In addition to the product launches, the companies are adopting alliance and partnership as key strategy to gain a higher market share. Companies such as AT&T, Harman and TomTom have collaborated with different industry experts to gain access to the market and technologies. Prominent companies profiled in the report include Verizon, Harman, TomTom, AT&T, Vodafone, Ford Motors, BMW, Telefonica, Mix Telematics and Trimble Navigation Ltd






Related articles:

  • The Global Automotive OEM Telematics Market The Global Automotive OEM Telematics Market
  • Top 5 Vendors in the Automotive Telematics Market From 2016 to 2020Top 5 Vendors in the Automotive Telematics Market From 2016 to 2020
  • Autonomous Vehicle Manufacturers Receive Major Boost from US RegulatorsAutonomous Vehicle Manufacturers Receive Major Boost from US Regulators
  • Global Enterprise LBS Market to Reach USD 19.8 Billion by 2020, Reports Technavio Global Enterprise LBS Market to Reach USD 19.8 Billion by 2020, Reports Technavio
  • Asset Tracking and Fleet Tracking Applications Providing Significant Growth ImpetusAsset Tracking and Fleet Tracking Applications Providing Significant Growth Impetus
  • Active Geofencing Market to Grow at a CAGR of 24.1% – Global Growth, Trends, and Forecast 2019-2024Active Geofencing Market to Grow at a CAGR of 24.1% – Global Growth, Trends, and Forecast 2019-2024

Filed Under: Research, telematics Tagged With: Telematics Market

Recent Posts

Tracking #COVID-19 Vaccinations with the I Got Vaccinated map

Free dog walking app raises $30,000 to end shelter dog killing

Semtech and Digital Matter Announce New Battery-Powered Indoor/Outdoor Asset Tracker Using LoRa Edge™

SPOT Partners With Battlbox to Drive Awareness of Winter Safety

Telenav to Provide EV Navigation for Xpeng’s European Customers


shop for geogeek swag

twitter

Location Tech News

Tracking #COVID-19 Vaccinations with the I Got Vaccinated map

Free dog walking app raises $30,000 to end shelter dog killing

Semtech and Digital Matter Announce New Battery-Powered Indoor/Outdoor Asset Tracker Using LoRa Edge™

SPOT Partners With Battlbox to Drive Awareness of Winter Safety

Telenav to Provide EV Navigation for Xpeng’s European Customers

Everbridge Unveils Next-Generation Front-End Alerting Interface for Industry-Leading Global Public Warning Platform

Tuya Smart Releases New Smart Outdoor Solutions During CES 2021

More Posts from this Category

Copyright Spatial Media LLC 2003 - 2015