New York, According to a new market research report published by Global Insight Services “Commercial Telematics Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Telematics is the technology of sending, receiving and storing information via telecommunication devices. Commercial telematics refers to the use of this technology in businesses and organizations, usually for the purposes of fleet management, asset tracking and monitoring.
Commercial telematics systems typically use GPS tracking to provide real-time data on the location of vehicles, assets or people. This data can be used for a variety of purposes, such as route planning and optimization, safety and security, and resource management. In some cases, commercial telematics systems may also include features such as driver behavior monitoring, engine diagnostics and vehicle maintenance tracking.
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Key Trends
There are three key trends in Commercial Telematics technology:
1. The increasing adoption of telematics by commercial fleets
Commercial fleets are increasingly adopting telematics technology to improve their operations. Telematics can help fleets to track vehicles, monitor driver behavior, and optimize routes. This can lead to significant cost savings for fleets, as well as improved safety and efficiency.
2. The increasing use of telematics data by insurance companies
Insurance companies are increasingly using telematics data to price insurance premiums. By using data on actual driving behavior, rather than simply demographics, insurance companies can better assess risk and offer more accurate premiums.
Key Drivers
There are several key drivers of the commercial telematics market.
One driver is the increasing demand for safety and security features in vehicles. This is especially true in fleet applications, where safety is a major concern.
Another driver is the need for increased efficiency and productivity in fleet operations. Telematics can help fleet managers track vehicle location and performance, as well as driver behavior.
Other drivers of the commercial telematics market include the increasing adoption of connected and autonomous vehicles and the need for better data management and analytics.
Market Segments
The commercial telematics market is segmented by solution, end-user, and region. By solution, the market is classified into automotive OEM services, and aftermarket telematics. Based on end-user, it is bifurcated into insurance, healthcare, media, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The global commercial telematics market includes players such as Cartrack, Daimler Fleetboard GmbH, Fleet Complete, Geotab Inc, Microlise, Masternaut Ltd, Mix Telematics, Navistar Inc, Omnitracs, Tomtom International BV, and others.
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Reasons to buy Commercial Telematics Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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