Global Commercial Vehicle Telematics Market

Global Commercial Vehicle Telematics Market is expected to reach US$ 28.6 Bn by 2024 from US$ 7.28 Bn in 2016 at a CAGR of 21.6%. This is a comprehensive global report focused on the current and future prospects of the Global Commercial Vehicle Telematics Market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. An in-depth analysis of past trends, future trends, demographics, technological advancements, and regulatory requirements for the Global Commercial Vehicle Telematics Market has been done in order to calculate the growth rates for each segment and sub-segments.

The key driving factor for Global Commercial Vehicle Telematics Market includes the market include growing government mandate for deploying vehicle tracking in commercial vehicles and rising demand for smartphones supplements the adoption of telematics solutions and services.

The OEM telematics provider type among the type segment is expected to grow at the highest market share over the forecast period due to growing trend of providing OEM-embedded telematics solutions and due to their extensive foothold in manufacturing embedded modules and strong technological leadership.

Geographically, the Global Commercial Vehicle Telematics Market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The swift growth of the market in the Asia-Pacific region is expected to be the fastest-growing region in the global market. The growth in the region is attributed to the untapped market strength, increasing awareness about driver safety and accident prevention, upcoming regulations to improve road safety, presence of leading OEM players, growing transportation and logistics industries, and advent of 4G LTE technology and smartphones.
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