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

  • Deaths of US pedestrians rise sharply, says GHSA report
    April 2, 2019
    Pedestrian deaths across the US have risen to their highest number in nearly 30 years. Many factors are responsible - including the rise and rise of SUVs - according to a worrying new GHSA report ore pedestrians died on US roads last year than in any year since 1990. The Governors Highway Safety Association (GHSA) suggests that 6,227 pedestrians were killed in 2018 – a 4% increase on 2017. Pedestrian deaths as a percentage of total motor vehicle crash deaths increased from 12% in 2008 to 16% in 2017, whi
    Read More
  • Growth of legislation in favour of US enforcement market
    February 1, 2012
    The automated road safety enforcement industry in the United States had a very robust 2010. The industry continued to grow to the point that providers now have nearly 5,000 cameras deployed in 25 of the 50 states and the District of Columbia, with more than 650 communities utilising such life-saving technology. Intersection safety cameras are the most common application but more communities are also implementing road safety camera programmes to deter excessive speeding. Deploying cameras to protect children
    Read More
  • Travel information is heading towards smartphones
    January 30, 2012
    Travel information services are undergoing a step change as rapid increase in sales of smartphones brings ITS technology to consumers' fingertips. A virtuous circle of expanding capability is under way in traffic and travel information services, promising much for drivers and reduction of road congestion. A recent rapid rise in sales of smartphones has boosted numbers of vehicles carrying GPS enabled devices and so brought expansion of traffic data available for analysis and dissemination. Greater numbers o
    Read More
  • Tolling systems - interoperability is key
    January 25, 2012
    Is US tolling as fragmented and divided as some would have you believe? And are the technology suppliers so very entrenched? ITS International spoke to the market's leading suppliers. A few years back, the prevalent view was that the North American tolling market was characterised by fragmented, proprietary solutions, each existing in splendid isolation. The reality is that a combination of pragmatism and good old market forces have seen some concerted moves made towards interoperability in many areas.
    Read More

Highlighted Content