Commercial Telematics Market-Overview
The rise in demand from the automotive and insurance industry likely to benefit the commercial telematics market 2020.The information & communication technology industry reports are shaped by Market Research Future, which pinpoints market options for expansion. An 18% CAGR is estimated to lead to an income of USD 42 Billion by 2023.
The rise in demand for real time information to devices is expected to set a favorable tone for the commercial telematics market trends in the upcoming period. The fortification of the automotive sector is estimated to yield positive results for the commercial telematics market in the upcoming period.
The segmental examination of the commercial telematics market is conducted on the basis of solutions, type, end-users, and region. On the basis of regions, the commercial telematics market includes Europe, North America, Asia Pacific, and the rest of the regions. Based on the type, the commercial telematics market is segmented into fleet telematics, vehicle telematics, insurance telematics, and others. Based on the end-users, the commercial telematics market is segmented into insurance, media & entertainment, government agencies, transportation and logistics, healthcare, and others. Based on the solutions, the commercial telematics market is segmented into navigation and location-based, V2v and V2i, infotainment, remote alarm & monitoring, telehealth, and others.
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The revamping of distribution channels is also expected in the coming years with a particular focus on using robots for the logistic function on a larger scale than before. The fortification of the human resource is estimated to be the critical point being addressed in these times of uncertainty. The rebooting of manufacturing activities is another strategic aspect that is being emphasized to ensure that the supply of the end product can be reasonably ensured to the users in the market. The market is in a condition of flux due to the rapid and severe changes in the global economy. The market players are taking the steps that are necessary to ensure that the market survives the turbulent period and emerge recovered in the future. The support of the administration in countries around the world is estimated to have a significant impact on the development of the market in the upcoming period.
The outstanding companies in the commercial telematics market are Harman International Industries, Inc.( U.S.), Bayerische Motoren Werke AG (Germany), TomTom Telematics B.V. (Netherlands), Verizon Communications, Inc.(U.S.), AT&T Inc. (U.S.), Vodafone Group Plc (U.K), Telefónica S.A. (Spain), Ford Motor Company (U.S.), Trimble Inc. (U.S.), Telematics International Ltd (South Africa), and Mix among others.
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