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

  • September 3, 2015
    Virtual cockpit in cars ‘edges closer to reality’
    New analysis from Frost & Sullivan, Rise of Virtual Cockpits in Cars finds that the instrument cluster (IC) market in North America and Europe is expected to clock a compound annual growth rate (CAGR) of 2.2 percent from 2014 to 2021, with digital IC expected to reach a CAGR of approx. 26 percent by 2021. While the virtual cockpit will be limited to premium-segment vehicles, fully digital clusters that will be standard in about 20 percent of cars will also be offered as an option on medium-segment cars.
    Read More
  • March 3, 2017
    Freight poses growing problem for city authorities
    Wes Guckert considers possible solutions and countermeasures to the problems of increased freight deliveries in growing cities. In January 2016, the US Department of Transportation (USDoT) conducted a session on the SmartCity Challenge and Urban Freight and Logistics. This session was a follow-up to the USDoT report titled, Beyond Traffic 2045.
    Read More
  • April 18, 2012
    Commercial telematics consolidation
    The long awaited and much needed commercial telematics consolidation movement is finally coming to fruition, according to ABI Research. With Trimble’s acquisition of PeopleNet and Masternaut and Cybit combining forces, the extremely fragmented commercial telematics industry, which consists of hundreds of locally active players, is consolidating to become more globally-minded. These changes will allow the fleet management industry to grow towards yearly global revenues of US$6.43 billion by 2016.
    Read More
  • February 2, 2023
    WiM market to reach $1.8bn by 2027: report
    Research and Markets predicts CAGR of 10% in sector over the next five years
    Read More

Highlighted Content