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

  • Ministers to urge use of ‘drive safe’ modes for mobile phones
    December 20, 2016
    An informal meeting in Whitehall is due to take place early in 2017, according to the Guardian, in which ministers and officials will tell mobile companies that ‘drive safe’ modes, similar to the airplane mode that has become standard, must be included in basic software ahead of a broader crackdown on illegal mobile phone use on the roads. In spring 2017, the fixed penalty for using a mobile phone while driving without a hands-free device will double to US$248 (£200). The fixed penalty notice will increa
    Read More
  • Data goldmines offer rich pickings
    May 31, 2013
    Astronomical is not too grand a term to describe the current rate of growth in transportation-related data. Massive amounts of traffic related information, such as speed, volume, incidents and weather are being generated every second by road operators and users alike. Big data’ derives its name from the sheer amount and complexity of available raw data. Its potential value is starting to emerge among the intelligent transportation systems community. A gold rush is taking place to capture this value, with da
    Read More
  • Digital identities in Europe could top €1tn by 2020 says BCS
    October 29, 2013
    The economic value of our digital identities is growing fast and could reach 1 trillion euros in Europe by 2020, according to estimates from the Boston Consulting Group. Digital identities boost economic efficiency, help focus research and marketing efforts while spurring the creation of personalized products and services that, in turn, drive revenues. For consumers, the benefits are compelling as products and services are tailored to their needs and requirements, says the report.
    Read More
  • FRA makes funding available for positive train control implementation
    April 5, 2016
    The US Department of Transportation’s Federal Railroad Administration (FRA) is accepting applications for US$25 million in competitive grant funding available to railroads, suppliers, and state and local governments for positive train control (PTC) implementation. The funding is part of the 2016 Consolidated Appropriations Act that funds the US Department of Transportation. Applications will be accepted until 19 May 2016 and FRA will give preference to projects that would provide the greatest level of p
    Read More

Highlighted Content