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

  • Dynamic charging boosts electric vehicles’ potential
    December 16, 2014
    With an increasing need to use electric vehicles in city centres to reduce pollution, David Crawford looks at various solutions to power delivery. The UN’s September 2014 Climate Summit has added fresh momentum to the drive to increase urban electric vehicle (EV) takeup. It has launched the Urban Electric Mobility Initiative, which wants to see EVs accounting for 30% of all urban travel by 2030, and make cities worldwide more friendly to their use. Encouragingly, the plan is being well supported by commerci
    Read More
  • Driverless vehicles just around the corner?
    February 28, 2013
    umors that self-driving taxis are about to hit the streets of Las Vegas have turned out to be untrue… but the age of the driverless vehicle is only just around the corner, as Pete Goldin finds out. From Herbie the Love Bug to Knight Rider to the cast of the Pixar film Cars, the autono­mous auto has long been a beloved icon in the entertainment industry. But how close is the fiction to fact? The general public might be surprised to find out just how soon autonomous vehicles could be driving on our roadways.
    Read More
  • Thailand trying to attract eco-friendly car manufacture
    April 17, 2012
    Thailand's Board of Investment is trying to woo car manufacturers to the country. From its position as the world's No. 1 producer of one-ton pickup trucks, it claims Thailand is quickly emerging as a global hub for fuel efficient, eco-friendly car manufacturing, with Euro-4 emission standards and a fuel economy of nearly 50 miles per gallon. Six of the world's top auto producers have based their fuel efficient car production in Thailand in recent years.
    Read More
  • Average driver spends nearly £1,000 and wastes almost five days stuck in traffic a year
    August 18, 2017
    The average UK motorist is being forced to waste £968 and spend 4.9 days stuck in traffic on major roads each year because of congestion, according to new analysis by the Local Government Association (LGA) in its new report, A country in a jam: tackling congestion in our towns and cities. Travel speeds across the country’s local roads continue to decrease, with the average speed on ‘A’ roads now just 25.2 mph, one per cent slower than it was this time last year. Congestion also significantly contributes to
    Read More

Highlighted Content