Telematics is the combination of computers and wireless telecommunications technologies for transferring a large amount of data in vehicles in real time. It involves the telematics used by a light, medium and heavy commercial vehicles. It includes wireless communications, location devices, and vehicle monitoring systems. The vehicle telematics is the technology of sending, receiving and storing information by telecommunication devices in vehicles. Commercial telematics is used in a variety of applications for example insurance telematics, fleet/asset management, infotainment, satellite navigation, telehealth solutions, and emergency warning systems.
The major driving factor for the global commercial telematics market is rising demand for connectivity and increasing application across various industries, mainly in the healthcare and insurance sector. Government regulations for compulsory use of telematics technology and high demand for connected vehicles are also expected to flourish the commercial telematics market. Asia Pacific commercial telematics is growing at a moderate rate and this growth is supported by demand from countries such as Japan, China, India, and Australia. However, the high cost of telematics equipment and lack of consciousness are some of the challenges for commercial telematics market.
The report covers forecast and analysis for the commercial telematics market on a global and regional level. Also, the report provides a market opportunity for the upcoming years. The report includes the detailed competitive landscape of the global commercial telematics market and an analysis of Porter’s five forces model for the commercial telematics market has been included. It includes company market share analysis, the product portfolio of the major industry participants. The report gives detailed segmentation of the commercial telematics market based on product, application and region segment.
The commercial telematics market is segmented on the basis of type into OEM Telematics and aftermarket telematics. In 2015, the OEM telematics emerged as one of the leading segments and accounted for significant share of global market. Key application market for commercial telematics includes satellite navigation, infotainment, insurance telematics, fleet/asset management, remote alarm and monitoring and telehealth solutions. In terms of revenue, fleet and asset management application was the major application segment of this market in 2015 and acquired over 28% share of the overall market.
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Geographically, commercial telematics market is segmented into major five regions including Europe, Asia Pacific, North America, Middle East & Africa, and Latin America with further spilled into major countries including Germany, France, UK, India, China, Japan, U.S., and Brazil. North America is one of the dominating regional markets in the commercial telematics space.
Major Market Players:
The report covers detailed competitive outlook including company profiles of the key vendors operating in the worldwide market. Key players profiled in the report include Trimble Navigation Limited, WirelessCar AB, Omnitracs LLC, AT&T, Verizon Communications Inc., Telefonica, TomTom, OnStar LLC., BMW, Verizon, and MiX Telematics Ltd.