Commercial Vehicle Telematic Trends and Forecast
The future of the global commercial vehicle telematic market looks promising with opportunities in the transportation and logistic, media and entertainment, government and utility, travel and tourism, construction, healthcare, and education markets. The global commercial vehicle telematic market is expected to reach an estimated $56.1 billion by 2030 with a CAGR of 10.6% from 2024 to 2030. The major drivers for this market are growing adoption of NGTP, increasing government mandate for deploying vehicle tracking in commercial vehicles, and increasing demand for smartphones across the globe.Commercial Vehicle Telematic by Segment
The study includes a forecast for the global commercial vehicle telematic by type, provider type, end use, and region.Commercial Vehicle Telematic Market by Type [Shipment Analysis by Value from 2018 to 2030]:
- Solution
- Service
Commercial Vehicle Telematic Market by Provider Type [Shipment Analysis by Value from 2018 to 2030]:
- OEM
- Aftermarket
Commercial Vehicle Telematic Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
- Transportation and Logistics
- Media and Entertainment
- Government and Utilities
- Travel and Tourism
- Construction
- Healthcare
- Education
Commercial Vehicle Telematic Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Commercial Vehicle Telematic Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies commercial vehicle telematic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the commercial vehicle telematic companies profiled in this report include:- PTC
- Trimble
- TomTom Telematics
- Verizon Telematics
- Mix Telematics
- Zonar Systems
- Octo Telematics
Commercial Vehicle Telematic Market Insights
The publisher forecasts that solution will remain the larger segment over the forecast period due to growing adoption of wireless connectivity in the automotive industry.Within this market, transportation and logistic will remain the largest segment due to introduction of advanced vehicles, increasing internet penetration, and growing government initiatives.
APAC is expected to witness highest growth over the forecast period due to the growing awareness towards driver safety and presence of major players in the region.
Features of the Global Commercial Vehicle Telematic Market
- Market Size Estimates: Commercial vehicle telematic market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Commercial vehicle telematic market size by type, provider type, end use, and region in terms of value ($B).
- Regional Analysis: Commercial vehicle telematic market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different types, provider types, end uses, and regions for the commercial vehicle telematic market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the commercial vehicle telematic market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the commercial vehicle telematic market size?Answer: The global commercial vehicle telematic market is expected to reach an estimated $56.1 billion by 2030.
Q2. What is the growth forecast for commercial vehicle telematic market?
Answer: The global commercial vehicle telematic market is expected to grow with a CAGR of 10.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the commercial vehicle telematic market?
Answer: The major drivers for this market are growing adoption of NGTP, increasing government mandate for deploying vehicle tracking in commercial vehicles, and increasing demand for smartphones across the globe.
Q4. What are the major segments for commercial vehicle telematic market?
Answer: The future of the commercial vehicle telematic market looks promising with opportunities in the transportation and logistic, media and entertainment, government and utility, travel and tourism, construction, healthcare, and education markets.
Q5. Who are the key commercial vehicle telematic market companies?
Answer: Some of the key commercial vehicle telematic companies are as follows:
- PTC
- Trimble
- TomTom Telematics
- Verizon Telematics
- Mix Telematics
- Zonar Systems
- Octo Telematics
Answer: The publisher forecasts that solution will remain the larger segment over the forecast period due to growing adoption of wireless connectivity in the automotive industry.
Q7. In commercial vehicle telematic market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to the growing awareness towards driver safety and presence of major players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, the publisher provides 10% customization without any additional cost.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the commercial vehicle telematic market by type (solution and service), provider type (OEM and aftermarket), end use (transportation and logistics, media and entertainment, government and utilities, travel and tourism, construction, healthcare, and education), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Commercial Vehicle Telematic Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- PTC
- Trimble
- TomTom Telematics
- Verizon Telematics
- Mix Telematics
- Zonar Systems
- Octo Telematics
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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