Global Commercial Telematics Market

Commercial Telematics Market Size, Share, Growth Analysis, By Offering (Software, Services), By Solution Type (OEM, Aftermarket), By End User (Transportation & Logistics, Healthcare), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45E2269 | Region: Global | Published Date: October, 2024
Pages: 159 | Tables: 87 | Figures: 71

Commercial Telematics Market News

  • February 2024: Geotab and Daimler Truck North America (DTNA) have partnered to make fleet management easier, companies announced. Fleets can aggregate a single source of data that leads to better decisions through Geotab's MyGeotab software, paired with Freightliner truck data provided by DaaS from DTNA. The comprehensive solution enhances the operation, sustainability, and safety without adding any hardware.
  • In February 2024, Connect1 trailer data integration marked the start of collaboration between Phillips Connect and Noregon. This cooperation ensures better fleet maintenance by providing detailed insights about brake and trailer health. Any goals are increasing fleet productivity and simplification of the know.
  • In September 2023, Airbiquity and Tessolve collaborated, connecting OTAmatic and LOGmatic with TERA devices by Tessolve. It streamlined and developed the OEM development and its deployment procedures while putting forward advanced application gateways for connected automobiles. With OTAmatic, secure software updates are managed, while data recording is customizable using LOGmatic. Other TERA devices by Tessolve include the OBD Dongle, featuring edge computing and high-performance automotive connectivity.
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Global Commercial Telematics Market size was valued at USD 57.65 Billion in 2023 and is poised to grow from USD 70.13 Billion in 2024 to USD 372.33 Billion by 2031, growing at a CAGR of 23.2% in the forecast period (2024-2031). 

Established firms and next-generation entrepreneurs compete in the commercial telematics business. Amongst those big firms holding so much market share and well-founded solutions are Verizon Connect, Omnitracs, and Geotab. They continue innovating their products with big data analytics and the Internet of Things. Other than that, strategic alliances and partnerships have taken the market quite often as companies try to enhance or offer better service and expand their reach in the market globally. 'Mix Telematics ', 'Fleet Complete ', 'Microlise Limited ', 'Vontier Corporation ', 'Trimble Inc. ', 'Navistar, Inc. ', 'Geotab Inc. ', 'Solera Holdings, Inc. ', 'Daimler AG ', 'Karooooo Ltd. ', 'Michelin ', 'Verizon Communications Inc. ', 'Continental AG ', 'Omnitracs LLC ', 'Philips Connect ', 'Verizon Connect ', 'PTC ', 'Trimble ', 'Tomtom ', 'Masternaut Limited '

With greater concern towards cost containment and efficiency in operations, businesses from a variety of industries are making advanced solutions in fleet management their top priority. Commercial telematics systems are the most indispensable because they provide real-time data on where vehicles are, the behavior of drivers, and fuel consumption patterns. This data can also provide them with the opportunity to offer better services and save costs as they schedule repairs on time, optimize routes, and reduce idle time. In the current market, fleet management systems play an important role in optimizing the efficiency and profitability of a business, and increased enterprise telematics adoption seeks a strategic advantage in these logistics and transportation industries, which are increasingly competitive.

Integration with IoT and Big Data Analytics: Amidst all the changes in the commercial telematics industry, the integration of telematics with IoT and big data analytics appears to be a defining trend. Companies can collect vast data on an automobile, including environmental conditions, with the use of IoT devices. Real-time performance indicators can also be derived. The data, when added with complex analytics, is helpful in enabling companies to come up with useful insights that help them improve their decision-making procedures. Organizations can increase their fleet efficiency by proactively identifying their need for repair, optimizing routing plans, and monitoring driver behavior. Some of these ways will shape the future of fleet management with integrated telematics, IoT, and analytics as demand for data-driven decision-making increases.

North America dominated the commercial telematics market with the highest penetration rate when compared to other regions and had significant market value in USD 18.19 billion in 2023. The North American market has grown, and telematics systems have become widespread and integrated into many industries. Growth is furthered by reputable suppliers, including Omnitracs and Verizon Connect. Accordingly, the trend for connected commercial vehicles and the further development of electromobility is increasing the demand for high-end telematics solutions. The North America market shall be relatively flat because companies are struggling to meet their demands, which are respectively regulatory and operationally efficient.

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Global Commercial Telematics Market

Report ID: SQMIG45E2269

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