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Commercial Telematics Market Outlook 2023-2028: A $152+ Billion Opportunity –

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Commercial Telematics Market Outlook 2023-2028: A $152+ Billion Opportunity –

March 22
03:24 2023
Commercial Telematics Market Outlook 2023-2028: A $152+ Billion Opportunity -
Commercial Telematics Market 2023-2028
Global commercial telematics market is primarily driven by rising sales of commercial and passenger vehicles

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 size reached 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.

Commercial Telematics Industry Definition and Application:

Commercial telematics is a technological solution that enables monitoring of various information about a vehicle or an entire fleet. It helps track deliveries, determine routes, enhance vehicle efficiency, communicate with drivers, and detect vehicle maintenance requirements. It promotes transparency in operations, accountability, and safety while improving productivity, operational efficiency, and route planning for enhanced performance. As a result, commercial telematics finds extensive applications in commercial vehicles, including cargo vans, buses, tractor-trailers, and heavy construction equipment, to acquire real-time data across the globe.

Commercial Telematics Market Trends:

The global commercial telematics market is primarily driven by rising sales of commercial and passenger vehicles. Moreover, there has been a surge in the use of commercial telematics in the construction industry to minimize fuel consumption in heavy construction equipment and machinery on site. In line with this, the rising construction activities due to the increasing global population, rapid urbanization, and inflating consumer disposable incomes are positively influencing the market growth. Additionally, the integration of the Internet of Things (IoT) and fifth-generation (5G) technology that supports the fast transfer of high-quality content, enables smart routing and tracking, provides on-road assistance and enhances user experience is contributing to the market growth. Other factors, including rising concerns regarding driver and passenger safety, favorable government policies, and the development of video-based telematics, are also anticipated to drive the market further.

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Global Commercial Telematics Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • 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
  • 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
    • Fleet Tracking and Monitoring
    • Driver Management
    • Insurance Telematics
    • Safety and Compliance
    • V2X Solutions
    • Others
  • Services 

Breakup by System Type:

  • Embedded
  • Tethered
  • Smartphone Integrated

Breakup by Provider Type:

  • OEM
  • Aftermarket

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure:

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: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa: (South Africa, Turkey, Saudi Arabia, Others

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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