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

  • US ITS sector needs strategic leadership
    January 31, 2012
    The US is losing its advantage in the ITS sector because of a lack of strategic leadership, according to a new report from the Information Technology and Innovation Foundation. Here, Stephen Ezell, one of the report's authors, talks to ITS International about what can be done to remedy the situation. A new report from the Information Technology and Innovation Foundation (ITIF), Explaining International IT Leadership: Intelligent Transportation Systems, makes for sobering reading within the US ITS community.
    Read More
  • Infrastructure projects to drive the construction industry in Norway
    August 7, 2015
    According to a recent report by Timetric’s Construction Intelligence Center (CIC), Norway’s construction industry will continue to expand over the coming five years, with investment in transport infrastructure projects continuing to drive growth. Under the government’s fourth National Transport Plan (NTP) 2014–2023, a series of infrastructure projects will be launched with an investment of around US$86.5 billion. The Norwegian Ministry of Transport and Communications has proposed total investment in th
    Read More
  • Outsourcing security weakness for Sweden’s driver and vehicle data
    October 24, 2017
    The security of driver and vehicle data hit the headlines this summer in Sweden and its authorities are still dealing with the fallout. David Crawford reports. epercussions from Sweden’s vehicle data outsourcing scandal continue to reverberate. Transportstyrelsen, the government’s transport agency, came under fire this summer for risking the personal security of over five million motorists by failing to implement full security checks on personnel in other countries to whom individual work packages could
    Read More
  • Europe lagging behind on standard ESC deployment
    February 18, 2014
    According to Frost & Sullivan, the European Electronic Stability Control (ESC) market is expected to reach a market value of close to US$2.7 billion by 2020. Among the various original equipment manufacturers (OEMs), it is the upper tiers in the pyramid that attract maximum fitment rates, with the German big three claiming close to 100 per cent fitment across the eight segments they cater to. ESC is the most dominant enabler for active and passive safety technologies. Built into a car, it is crucial to a
    Read More

Highlighted Content