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

  • Over 100 micro-mobility vehicles will be launched by 2018
    April 11, 2012
    As the cost of global congestion inches towards the $1 trillion mark, key economies including Europe, North America, Japan and China amongst others prepare for a green-commute blueprint. Some 16 of the key automotive OEMs are working on more than 110 short distance vehicles, with approximately 50 models being already production ready. The remaining 60 are in concept stage, but expected to become production ready by 2020. The emergence of such micro-mobility vehicles is expected to fight congestion, ease par
    Read More
  • A short guide to the shared mobility galaxy
    April 28, 2021
    This spring, a new book will be published with the mind-blowing title Shared Mobility Rocks: a Planner’s Guide to the Shared Mobility Galaxy. ITS International asks co-authors Friso Metz and Rebecca Karbaumer to share their golden rules
    Read More
  • Measuring alertness to avert drowsy driver incidents
    December 21, 2015
    Falling asleep at the wheel is the primary cause in thousands of deaths on American and other roads, with truck drivers the most at-risk group. David Crawford investigates measures to counter drowsy driving.
    Read More
  • White lines? Cyclists need more
    August 5, 2020
    Just painting lines on the road isn’t sufficient to persuade most people to cycle – you need to separate them from motor vehicles altogether. David Arminas talks to transportation engineer Tyler Golly about the Covid ‘wake-up call’
    Read More

Highlighted Content