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

Related Content

  • June 10, 2016
    Electric vehicle infrastructure market set to grow
    According to a new TechSci Research report, Global Electric Vehicle Infrastructure Market By Type, by Installed Location, by Region, Competition Forecast and Opportunities, 2011 - 2021, the global market for electric vehicle infrastructure is projected to grow at a CAGR of over 27 per cent during 2016-2021, on account of favourable government policies that promote adoption of electric vehicles and growing concerns over harmful effects of air pollution. Additionally, grid integration of electric vehicles
    Read More
  • March 12, 2014
    Global fleet management system market 2012-2016
    TechNavio's Global Fleet Management System Market 2012-2016 report forecasts that the fleet management system market will grow at a CAGR of 26.66 per cent over the period 2012 to 2016. One of the key factors contributing to this market growth is the expansion of fleet size of commercial vehicles. The global fleet management system market has also been witnessing an increasing number of in-vehicle technologies. However, the increasing operating cost of vehicles could pose a challenge to the growth of thi
    Read More
  • May 17, 2012
    Major growth for fleet management systems in the Americas
    According to a new research report from the analyst firm Berg Insight, the number of fleet management systems deployed in commercial vehicle fleets in North America was 2.1 million in Q4-2010. Growing at a compound annual growth rate (CAGR) of 12.6 per cent, this number is expected to reach 3.8 million by 2015. In Latin America, the number of installed fleet management systems is expected to increase from 0.9 million in Q4-2010, growing at a CAGR of 20.6 per cent to reach 2.3 million in 2015.
    Read More
  • September 8, 2015
    Over-the-air software updates to benefit for automotive market, IHS says
    While quite common in smartphones and personal computers, remote over-the-air (OTA) software updates are still only in their infancy in the automotive space, according to a new report from IHS Automotive. The report finds that OTA software updates will eventually be a big benefit for the automotive industry due to their capacity to reduce warranty costs, potentially increase overall completion rates for software-related recalls, improve customer satisfaction by eliminating trips to the dealership for so
    Read More

Highlighted Content