Global Commercial Telematics Market anticipated to touch US$46.2 bn mark by 2020

Albany, USA, 2018-May-29 — /EPR Network/ —An insightful study, titled “Commercial Telematics Market” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). This research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report.

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Global commercial telematics market. According to the report, titled ‘Commercial Telematics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020’, the global market is rising at an 18.0% CAGR from 2014 to 2020, to grow from a valuation of close to US$14.7 bn in 2013 to US$46.2 bn in 2020.

The global market for commercial telematics is segmented on the basis of market type into OEM telematics and aftermarket telematics. This refers to the stage when the telematics systems are introduced into the vehicle, with OEM telematics systems being installed during manufacture and aftermarket telematics being bought and installed by the customers themselves. Among these two sales channel segments, aftermarket commercial telematics dominate the market, with a 59% share in 2013.

These services are majorly used to provide services such as satellite navigation and infotainment options. The advent of modern wireless connectivity has enhanced both these application sectors, with wireless streaming of infotainment options catching on rapidly among the customer pool.Due to growing government support for the installation of safety telematics services such as satellite navigation and GPS location tracking, the OEM commercial telematics market is expected to expand at a higher CAGR than aftermarket telematics in the forecast period. Government regulations in developed countries with some of the highest concentrations of vehicles, such as the U.S., the U.K., and Germany, are supportive of and often mandate the incorporation of commercial telematics in new vehicles, particularly passenger vehicles. This will help the global commercial telematics market massively.

Among the product types within OEM telematics, embedded commercial telematics hold a dominant 68% share in the commercial telematics market. Hybrid telematics are the other category of commercial telematics and are expected to remain behind embedded commercial telematics in the coming years.

Within the product category of aftermarket commercial telematics, the major sub-segments are portable and embedded commercial telematics. Unlike the OEM commercial telematics sector, embedded telematics trail in this category, with portable commercial telematics leading with a 71% revenue share in the aftermarket telematics market.

“The main reason for this is the easier upgrading possible with portable telematics,” explains a lead MRRSE analyst. “Replacing embedded telematics systems can be a bothersome task, which doesn’t affect automobile manufacturers, but aftermarket buyers are attracted to portable telematics.”

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The scope of the report includes comprehensive analysis of various market segments based on applications and telematics type. Further, in-depth cross sectional analysis of these segments across different geographies [North America, Europe, Asia Pacific, and the Rest of the World (RoW)] has been provided to aid in strategic decision making. The report includes study of commercial telematics based on various types as OEM telematics and aftermarket telematics. Embedded and hybrid OEM systems are the two types of OEM telematics considered in the scope of this report. Furthermore, embedded and portable aftermarket systems are two types of aftermarket telematics included in the study. Applications in commercial telematics have been categorized into fleet/asset management, satellite navigation, infotainment application, insurance telematics [pay-as-you-drive (PAYD)], telehealth solutions, remote alarm and monitoring and other applications such as emergency warning systems and wireless vehicle safety communications. The study offers a complete understanding of different application sectors of commercial telematics market. The study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business.

Additionally, the report also includes competitive profiling of leading players in the industry and various business strategies adopted by them. In addition, report explores potential opportunities that are estimated to increase profitability of market participants. The company profiles section in the report provides overview of the companies, annual revenue generated for the past two/three years, business strategies, and recent developments. Companies profiled in this report include MiX Telematics Ltd., Omnitracs LLC, Verizon Communications Inc., WirelessCar AB, ORBCOMM Inc., Masternaut Limited, TomTom N.V., Trimble Navigation Limited, and OnStar LLC.

The global commercial telematics market is categorized into the following segments:

Commercial Telematics Market, by Type

  • OEM Telematics
    • Embedded OEM Systems
    • Hybrid OEM Systems
  • Aftermarket Telematics
    • Embedded Aftermarket Telematics
    • Portable Aftermarket Telematics

Commercial Telematics Market, by Application

  • Fleet / Asset Management
  • Satellite Navigation
  • Infotainment
  • Insurance Telematics
  • Telehealth Solutions
  • Remote Alarm and Monitoring
  • Others

Commercial Telematics Market, by End-use Industry

  • Transportation and Logistics
  • Healthcare
  • Construction
  • Government and Utilities
  • Insurance
  • Manufacturing

Commercial Telematics Market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

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