Global commercial vehicle telematics market refers to solutions and services that are used for monitoring and controlling a commercial vehicle via telecommunication devices. Vehicle telematics is a generalized term that covers vehicular technologies, telecommunication, sensors, actuators and other electronic/electrical components. The commercial vehicle telematics helps to record, track, map and navigate commercial vehicles by a combination of Global Positioning System (GPS) and onboard diagnostics solutions.

Global Commercial Vehicle Telematics market is expected to grow with a 17.51% CAGR during the forecast period of 2018-2026. The base year considered for the study is 2017 and the estimated period is between 2018 and 2026. Some of the drivers that are responsible for the market growth include:

• Notable investments in the vehicle telematics across the globe
• Increasing smartphone penetration across the globe
• Government initiatives and investments for the deployment of vehicle tracking
• High adoption of next-generation telematics protocol (NGTP) in commercial vehicles
• Increasing incorporation of telematics by automobile manufacturers (OEM)

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However, the market is primarily driven by factors such as increasing demand for fleet management services and government initiatives for deployment of vehicle tracking. Governments across the globe have identified the advantages offered by vehicle telematics, and thus are encouraging the adoption of telematics in commercial vehicles. This technology ensures public and road safety, optimizes the government work and improves the fuel efficiency. For example, in 2018, the Ministry of Urban Development, Government of India under “Clean India mission initiative” has signed an agreement with BSNL for deploying vehicle tracking and monitoring systems in the government commercial vehicle that are engaged in the collection of solid waste in 4,041 Urban Local Bodies.

Aftermarket segment dominated the market by provider type of the global commercial vehicle telematics market, with nearly XX% market share in 2017. The dominance of the after-market is primarily attributed to the presence of a large number of commercial vehicle telematics globally. As per Telematics Wire, some of the key aftermarket solutions and services providers are TomTom (The Netherlands), Trimble Inc. (U.S.), Continental (Germany), Bosch (Germany), Harman (U.S.), Google (U.S.), and Verizon (U.S.). Furthermore, high funding for these startups operating in the after-market domain is expected to lead the way for the growth of the Aftermarket segment. For instance, in March 2017, Fosun Group invested $XX million (£13 million) in a telematics startup “The Floow” (Britain), to expand the company’s presence globally. Moreover, OEM in the provider segment is anticipated to grow at the highest CAGR of around XX% during the forecast period. The major growth attributor of the market could be the growing trend of providing OEM-embedded telematics solutions, coupled with the government mandates worldwide for installation of telematics devices in commercial vehicles. For example, the Indian Ministry of Road Transport and Highways (MoRTH) have mandated it from 2018 that all the passenger transport vehicles to be equipped with GPS device and a panic button in 2018.

With the increased adoption of Commercial Vehicle Telematics, newer challenges have been introduced into the market. Risks and concerns regarding security and privacy are some of the major factors restraining the growth of this market. Also, lack of standardization in the commercial vehicle telematics coupled with Network coverage and blind spots are other major issues creating hurdles in the market growth.

The Global Commercial Vehicle Telematics market is segmented by type, provider, and end users. These segments are further classified as follows:

Market by Provider:

• Aftermarket
• Original Equipment Manufacturers (OEM)

Market by Type:

• Service
  • Professional service
  • Managed service
• Solutions
  • Smart fleet management
  • Driver management
  • Insurance telematics
  • Safety & compliance
  • V2x solutions
  • Other solutions

Market by End Users:

• Construction
• Government & utilities
• Healthcare
• Media & entertainment
• Transportation & logistics
• Travel & tourism
• Other end users

The total market revenue is calculated by evaluating the revenue generated based on the deployment of telematics solution and services in the commercial vehicles.

By geography, the Global Commercial Vehicle Telematics market has been segmented into four major regions:

• Commercial Vehicle Telematics North America Market: United States & Canada
• Commercial Vehicle Telematics Europe Market: United Kingdom, France, Germany, Spain, & Rest of Europe
• Commercial Vehicle Telematics Asia Pacific Market: China, India, Japan, Australia & Rest of Asia Pacific
• Rest of World: Latin America, Middle East & Africa

Geographically, North America led the global market in 2017 by capturing the largest market share of XX% in terms of revenue. The commercial vehicle telematics market in North America is primarily driven by the established ICT infrastructure in the region amid high smartphone penetration; coupled with the supportive government stance for vehicle telematics. For instance, in 2016, Federal Motor Carrier Safety Administration (FMCSA) established Electronic logging device (ELD) rule has mandated the use of ELD as a part of MAP-21 for the vehicles in the US. The rule specifies that the operators of commercial motor vehicles will be required to use ELDs such as Automatic On-Board Recording Devices (AOBRD). Moreover, the dominance of North America can also be attributed to the presence of a majority of key players that include Trimble Inc. (U.S.), Verizon Telematics Inc. (U.S.), Zonar Systems Inc. (U.S.), Inseego Corporation (U.S.), PTC Inc. (U.S.) and others. On the other hand, the Asia Pacific is anticipated to be the fastest growing regional market with a CAGR of XX% during forecast period. The highest growth rate of Asia Pacific commercial vehicle telematics market is driven by the government initiatives for the deployment of vehicle tracking systems. For instance, the Australian government is actively involved in promoting telematics in heavy and commercial vehicles in the country. For instance, as per the National Transport Commission (NTC), in 2017, Heavy Vehicle National Law including Electric Work Diary and Intelligent Access Program was aimed to use telematics in buses, trucks and commercial vehicles. The Asia Pacific market is also driven by the high commercial vehicle sales. This trend of high commercial vehicle production is expected to continue over the forecast period that creates a promising adoption base for Asia Pacific commercial vehicle telematics market growth.

The Global Commercial Vehicle Telematics market is segmented by services, solutions, provider, and end users. End Users segment of the market includes construction, education, government and utilities, healthcare, media and entertainment, transportation and logistics, travel and tourism & other end users. Provider segment consists of aftermarket & original equipment manufacturers (OEMs). Types of commercial vehicle telematics include services and solutions. Service segment includes Professional Service & Managed Services while the solutions segment consists of fleet tracking and monitoring, driver management, insurance telematics, safety and compliance, v2x solutions & others.

The key companies operating in the Global Commercial Vehicle Telematics market are:

• Trimble Inc.
• Tomtom Telematics BV
• Verizon Telematics Inc.
• Mix Telematics International
• Omnitracs LLC
• Other Companies

Market Share Analysis, Key Company Analysis, Key Corporate Strategies along with Company profiles of the key market players are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, or new product launch to gain a competitive edge over each other. For instance, in March 2018, Octo Telematics Inc. signed a partnership agreement with RCI Bank and services, to offer telematics services and advanced big data analytics to allow the Renault Group to augment the driving experience of its customers worldwide. In February 2018, AT&T Inc launched its Internet of Things (IoT) based fleet management solutions Geotab fleet tracking platform for government, small business & enterprise. Also, in January 2017, Trimble Inc. acquired ISE to enhance its fleet telematics solutions share worldwide.

Key findings of the global Commercial Vehicle Telematics market:

• North America accounts for the largest market share of the overall Commercial Vehicle Telematics market.
• Introduction of ELD mandate (Electronic Logging Device) in the commercial motor vehicles is expected to increase the demand for commercial vehicles telematics.
• Increasing adoption of telematics in the business sector is expected to offer huge growth opportunity for the market
• Logistics and Transportation market in the end user segment leads the global commercial vehicle telematics market by capturing a largest market share of approximately XX% in terms of revenue in 2017.
• The increasing number of incorporation of telematics solutions by OEM automobile manufacturers is expected to supplement the market growth