Commercial vehicle telematics market predicted to grow by 10 per cent by 2022

According to a new research report on the commercial vehicle telematics market published by MarketsandMarkets the market size is expected to grow from US$7.31 billion in 2017 to US$18.43 billion by 2022, at a compound annual growth rate (CAGR) of 20.3 per cent. The major driver of the commercial vehicle telematics market is the increasing adoption for the next-generation telematics protocol (NGTP) enhancing telematics service delivery, the proliferation of telematics technology due to decreasing sensor and
July 18, 2017 Read time: 2 mins
According to a new research report on the commercial vehicle telematics market published by 6418 MarketsandMarkets the market size is expected to grow from US$7.31 billion in 2017 to US$18.43 billion by 2022, at a compound annual growth rate (CAGR) of 20.3 per cent.


The major driver of the commercial vehicle telematics market is the increasing adoption for the next-generation telematics protocol (NGTP) enhancing telematics service delivery, the proliferation of telematics technology due to decreasing sensor and connectivity cost, growing government mandate for deploying vehicle tracking in commercial vehicles and rising demand for smartphones supplements the adoption of telematics solutions and services.

Safety and compliance solutions are expected to drive the market growth since the safety and security aspect has been one of the initial functionalities of the commercial vehicle telematics. Suppliers offer solutions which integrate the compliance aspect to facilitate speed control, timeline reporting, laws and regulation control and others to incorporate government mandates and regulations of commercial vehicle telematics technology.

The professional services segment is expected to have the largest market share during the forecast period owing to the increased deployment of smart solutions which requires technological consulting, and continuous support and maintenance activities. Moreover, government bodies normally prefer professional services vendors over managed services vendors to keep a tight control over the business operations, such as deployment and support and maintenance.

According to the geographic analysis, North America is estimated to hold the largest market share during the forecast period. This is due to the major market share is early adoption of telematics technology for commercial vehicle in the region. North America constitutes of developed economies such as US and Canada. These countries are significantly advanced in terms of technology and its application deployments. The commercial automobile industry in US is more than a decade old. Moreover, government regulations, policies and mandates for the different application of commercial vehicle telematics is expected to drive the market growth in North America.

Air Quality & Weather Systems

For more information on companies in this article

Related Content

  • Mexico City seeks solutions to improve air quality
    December 6, 2017
    David Crawford ponders prospects for one of the world’s most congested and polluted cities. In 1992, the United Nations named Mexico City as the world’s most polluted urban centre. In the first half of 2016, following the updating of pollution alert limits to meet international standards, Mexico recorded 115 days where ozone concentrations exceeded the acute exposure health limit.
    Read More
  • Mature solutions for emerging economies
    June 8, 2015
    Siemens’ Marcus Welz talks to David Crawford about suitable ITS solutions for emerging economies. Be bold in vision - and output - and user-oriented in practice,” Marcus Welz advises emerging economies planning ITS investments. Says the Siemens Group senior vice president and global sales director for ITS: “Their road users need better, more reliable and safer trips – but without costs increasing too much. The good news is that many countries are already tackling the big issues of traffic and the environmen
    Read More
  • Embedded connectivity delivers real time travel information
    February 3, 2012
    Ton Brand describes the GSM Association's Embedded mTelematics programme. As the world's roads become increasingly crowded, consumers and businesses are demanding better real-time information to help them both avoid traffic congestion and make smarter use of public transport. Embedding mobile connectivity directly into vehicles can enable drivers and passengers to see live traffic flows in their localities, as well as the expected arrival time of the next bus, ferry or tram
    Read More
  • Intertraffic Mexico 2022: safety & sustainability
    November 8, 2022
    Sixth edition runs from 8-10 November at the Citibanamex Center in Mexico City
    Read More

Highlighted Content