Commercial Vehicle Telematics Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The commercial vehicle telematics market size has grown rapidly in recent years. It will grow from $50.64 billion in 2023 to $59.91 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to regulatory mandates, fleet management optimization, cost reduction and operational efficiency, rise in e-commerce and logistics, demand for real-time data and analytics.

The commercial vehicle telematics market size is expected to see rapid growth in the next few years. It will grow to $97.44 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to growth in connected vehicles, rising demand for last-mile delivery services, focus on green and sustainable fleets, expansion of autonomous vehicles, demand for predictive maintenance. Major trends in the forecast period include enhanced cybersecurity measures, telematics-as-a-service (taas) model, telematics for ev optimization, real-time traffic management solutions, integration with cloud-based platforms.

Market Overview -
Commercial vehicle telematics refers to integrating telecommunications and information technology with commercial vehicles. It involves using various technologies to collect, transmit, and analyze data related to the operation and performance of commercial vehicles.

Download Free Sample of Report -

https://www.thebusinessresearchcompany.com/sample.aspx?id=12340&type=smp

Rising Electric Vehicle Adoption Fuels Expansion Of The Commercial Vehicle Telematics Market
The growing demand for electric vehicles is expected to propel the growth of the commercial vehicle telematics market going forward. Electric vehicles (EVs) refer to vehicles that are powered by one or more electric motors using electrical energy stored in rechargeable batteries or obtained from an external source. Telematics is used in electric vehicles (EVs) to collect and transmit data about the vehicle's performance, location, and other factors, improving EVs' efficiency and safety. For instance, in September 2022, according to the reports shared by the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021, which is almost 9% of sales share, and increased by 4% in 2021. Therefore, the growing demand for electric vehicles is driving the growth of the commercial vehicle telematics market.

Competitive Landscape -
Major companies operating in the commercial vehicle telematics market report are Verizon Communications Inc., Cisco Systems Inc., Continental AG, Navistar International Corporation, Garmin Ltd., Trimble Inc., Tata Motors Limited, PTC Inc., Element Fleet Management Corp, Solera Inc., Samsara Inc., TomTom International BV, Omnitracs LLC, Geotab Inc., CalAmp Corp, Inseego Corporation, Mix Telematics International (Pty) Ltd., Lytx Inc., Zonar Systems Inc., Motive Technologies Inc., Platform Science Inc., Microlise Group PLC, Azuga Inc., Masternaut Limited, Spireon Inc., GPS Insight LLC, NexTraq LLC, Cetaris Co, Telemax Telematics Pty Ltd, AirIQ Inc.

Innovative Solutions In The Commercial Vehicle Telematics Market
Major companies operating in the commercial vehicle telematics market are developing advanced technologies, such as fleet management software, to meet larger customer bases, increase sales, and increase revenue. Fleet management software is a specialized type of technology designed to assist businesses and organizations in managing and optimizing their fleet of vehicles. For instance, in September 2022, Ford Motor Company, a US-based automobile manufacturer, launched the Ford Pro Fleet Management Software. The distinctive feature of the Ford Pro Fleet Management Software lies in its ability to streamline administrative processes, replacing cumbersome paperwork with an ever-accessible and user-friendly digital program. Developed on Fleetio software, it is compatible with both Ford and non-Ford vehicles, accommodating unlimited fuel payment cards, providing versatile maintenance program choices, and seamlessly integrating into the comprehensive suite of Ford Pro fleet solutions. This innovation facilitates real-time tracking of the total cost of ownership and digitizes comprehensive fleet vehicle reports, offering an efficient and integrated solution for fleet management.

Browse Full Report @

https://www.thebusinessresearchcompany.com/report/commercial-vehicle-telematics-global-market-report

Key Segments -

The commercial vehicle telematics market covered in this report is segmented -

1) By Type: Solutions, Services
2) By Provider Type: Original Equipment Manufacturer (OEM), Aftermarket
3) By Vertical: Transportation And Logistics, Government And Utilities, Travel And Tourism, Construction, Education, Healthcare, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.