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

  • New survey shows technology revolutionising tolling
    September 14, 2016
    Advances in electronic tolling are transforming highway transportation by providing greater mobility, smoother traffic flow, and improved safety for drivers and their passengers, according to new survey data released by the International Bridge, Tunnel and Turnpike Association (IBTTA). The new survey, Toll Technology Transforms Mobility for Customers, conducted during the third quarter of 2016, collected technology-related data from 36 tolling facilities in 18 states, representing all regions of the cou
    Read More
  • Enforcement ensures equity for toll road users
    January 25, 2018
    All-electronic tolling boosts traffic flow but introduces the tricky question of enforcement. Workable solutions are starting to emerge. Enforcement is an essential part of tolling and one of the most important ways for a mobility agency to keep faith with its investors, its community stakeholders and the vast majority of its users. It can also be one of the most unpopular and contentious things a toll authority has to undertake. If tolling is about paying for the roads, then everyone has to pay their
    Read More
  • Ability to keep in touch on US buses woos travellers
    February 1, 2012
    David Crawford finds evidence of a new trend in American intercity travel: that better access to data sources on the move is tempting passengers away from air travel and onto surface modes. In the US the ease of use of Portable Electronic Devices (PEDs) is successfully wooing long-distance travellers away from airlines and onto surface public transport, according to just-published research. Using data from field observations of 7,028 passengers travelling by bus, air and train in 14 US states and the Distri
    Read More
  • Ability to keep in touch on US buses woos travellers
    February 1, 2012
    David Crawford finds evidence of a new trend in American intercity travel: that better access to data sources on the move is tempting passengers away from air travel and onto surface modes. In the US the ease of use of Portable Electronic Devices (PEDs) is successfully wooing long-distance travellers away from airlines and onto surface public transport, according to just-published research. Using data from field observations of 7,028 passengers travelling by bus, air and train in 14 US states and the Distri
    Read More

Highlighted Content