Commercial Telematics Market Worth $144.44 Billion, by 2030 at 13.8% CAGR, Says AMR
PORTLAND, Oregon, January 24, 2019 /PRNewswire/ --
Increase in adoption of connectivity solutions, government regulations for promoting installation of vehicle telematics, rise in demand for intelligent transportation systems, and improved performance of autonomous vehicles would drive the growth of the global commercial telematics market.
Allied Market Research recently published a report, titled, "Commercial Telematics Market by Solution Type (OEM and Aftermarket), Application (Solutions and Services), and End User (Transportation and Logistics, Insurance, Healthcare, Media & Entertainment, Vehicle Manufacturers/Dealers, and Government Agencies): Global Opportunity Analysis and Industry Forecast, 2018-2030". According to the report, the global commercial telematics market was pegged at $27.07 billion in 2017 and is expected to account $144.44 billion by 2030, registering a CAGR of 13.8% through 2030.
(Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg )
Growing trend of connectivity solutions and increasing need for easy diagnosis of vehicles drive the growth of the market. Moreover, government regulations for vehicle telematics supplement the growth of the market. However, concerns related to data hacking, high cost of installation, and lack of uninterrupted & seamless internet connectivity hamper the market growth. On the contrary, development of intelligent transportation systems and improved performance of autonomous vehicles are expected to create promising opportunities for the market players in the coming years.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/235
OEM segment to create lucrative opportunities through 2030
OEM segment held the largest share in 2017, contributing more than half of the total market revenue, owing to the large number of vehicles embedded with OEM-installed telematics solutions, which enable fleet management companies to monitor their fleet and effectively manage their resources. Moreover, the segment is expected to portray the fastest CAGR of 14.8% during the forecast period, owing the growing demand for company-fitted telematics solutions backed with government regulations mandating their use. Furthermore, the aftermarket segment is expected to witness steady growth during the forecast period.
Services segment to manifest fastest growth through 2030
The services segment is expected to register the CAGR of 15.3% during the study period, owing to increasing adoption of commercial telematics solutions worldwide. Moreover, telematics service providers help customers with designing, consultation, integration, and deployment of telematics solutions, which would boost the growth of the segment. However, the solutions segment accounted for the largest share in 2017, contributing nearly three-fourths of the total revenue, as they provide various products to customers such as location-based solution and remote fleet management.
Transportation and logistics segment to hold lion's share through 2030
The transportation and logistics segment held the largest share in 2017, accounting for nearly half of the total revenue, owing to features such as better fleet management, access to real-time information, and quick vehicle diagnostics. However, the healthcare segment is expected to register the fastest CAGR of 18.3% during the forecast period, owing to the increasing applications of telematics such as telehealth. The other segments analyzed in the report include insurance, media & entertainment, vehicle manufacturers/dealers, and government agencies.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/235
North America to dominate the market throughout forecast period
The commercial telematics market in North America accounted for about 45.4% share of the global market revenue in 2017, owing to expansion of commercial telematics network due to surge in the number of connected cars. However, Asia-Pacific region is expected to manifest the fastest CAGR of 17.9% through 2030, owing to partnerships between telematics companies and AI solution providers coupled with innovations from telematics companies. The other regions analyzed in the report include Europe and LAMEA (Latin America, Middle East, and Africa).
Major market players
The major market players analyzed in this report include Cartrack, Fleet Complete, Microlise, Mix Telematics, Omnitracs, Trimble Inc., Zonar Systems, Daimler Fleetboard GmbH, Geotab Inc., Masternaut Limited, Navistar Inc., TomTom International BV, and Verizon Connect.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Similar Ongoing Reports:
Vehicle Tracking System Market - Global Analysis and Industry Forecast 2017-2023
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Share this article