Global Commercial Telematics Market is predicted to grow at the CAGR of 17.5% during 2016-2021. Telematics is widely adopted concept in vehicles which merges telecommunications and informatics. It enables to communicate and connects with other devices or individual user through network. Telematics includes GPS systems to navigation systems and allows to obtain real time access of the vehicle. It contributes in many features in vehicles from hands free mobile calling to safety and security of the driver. Commercial Telematics are widely adopted due to rising demand for safety, security & comfort. Technological advancement enabled the market players to offer innovative solutions such as fleet/asset management tele-health solutions, navigation and location based systems. Favorable Government regulations and compliances for safety and security in vehicles are boosting the global Commercial Telematics market. The rise in adoption of smartphone and connectivity solution across the globe enabled Commercial Telematics to grow fast.
Most widely adopted Commercial Telematics services includes consulting & design, automotive data services, integration & deployment and so on. Vehicle automation and demand of concept cars are expected to boost the global commercial telematics market. Growth in digital integration enable the commercial telematics market to grow fast. Development in advance driver assistance systems (ADAS) & rise in adoption of electric vehicles are creating huge demand for commercial telematics market. However, high cost, lack of awareness and standardized system are the key concern for the global commercial telematics market.
North America has the highest contribution to Global Commercial Telematics Market followed by Europe. Untapped APAC region such as China, India, Japan and Korea are expected to create huge opportunity for global Commercial Telematics market due to emerging demand of Commercial Telematics in automotive industries. APAC region is predicted to be a lucrative region due to huge demand of Commercial Telematics, low-cost manufacturing, cheap labor and improved infrastructure. Developed economies such as US, UK and other EU nations have favorable government policies for safety, security and comfort of the vehicles which are driving the Global Commercial Telematics Market. Competitive Insights:
Global Commercial Telematics Market Key players include: Agero Inc, Box Telematics, Bsm Technologies, Calapm Corp., Geotab, Gps Insight, Infotrack Telematics, Ingenie, Masternaut, Mix Telematics, Octo Telematics, Omnitracks, Onstar, Orbcomm, Renova,Sage-Quest, Inc, Sprint, Tantalum Corporation, Telit Wireless Solution, Telogis, Tomtom, Trimble Navigation, Verizon Wireless, Wex Telematics & Zonar Connected. R&D, Product launch, Partnership and Collaboration are the key winning strategies adopted by Global Commercial Telematics Market players across the globe.
Global Commercial Telematics Market is segmented on the basis of type, solution, end user, service and region. Global Commercial Telematics Market by type includes after telematics & original equipment manufacturer such as fully embedded OEM systems, hybrid OEM systems. Global Commercial Telematics Market by solution includes navigation and location based market, fleet/asset management market, infotainment, remote alarm & monitoring solutions.