Global Commercial Telematics Market Report, Industry Overview, Growth Rate and Forecast 2028

by Zayn Mathew Market Research Reports

According to the recent report by IMARC Group, titled “Commercial Telematics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, the global commercial telematics market US$ 54.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 152.1 Billion by 2028, exhibiting a growth rate (CAGR) of 19.2% during 2023-2028.

The global commercial telematics market is being driven by the strict regulations introduced by different governments across the globe. Commercial telematics refers to the services and solutions that aid in monitoring a commercial vehicle through telecommunication. The location and movement of the vehicle are detected via Global Positioning System (GPS), whereas diagnostic systems help in recording the speed and behavior of the vehicle. A commercial telematics system allows the interchange of information between the central authority and the commercial vehicle through which the activities of the vehicle can be tracked. In case of any unauthorized movement, this system can alert the fleet manager. Besides this, it also helps in fuel management, optimizing maintenance, safety and financing, and driver downtime. As a result, this system is being adopted by several fleet management companies and automobile insurance companies.

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Global Commercial Telematics Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are AirIQ Inc., Bridgestone Corporation, General Motors Company (GM), Geotab Inc., Michelin Group, MiX Telematics International (Pty) Ltd, Octo Telematics S.p.A., Omnitracs, LLC, Trimble Inc., Bell Atlantic Corporation, and Continental AG.

The report has segmented the market on the basis on region, type, system type, provider type and end use industry.

Breakup by Type:

Solution
Services

Breakup by System Type:

Embedded
Tethered
Smartphone Integrated

Breakup by Provider Type:

OEM
Aftermarket

Breakup by End Use Industry:

Transportation and Logistics
Media and Entertainment
Government and Utilities
Travel and Tourism
Construction
Healthcare
Others

Breakup by Region:

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

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Figure: https://www.imarcgroup.com/Commercial-Telematics-Market

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