Product ID: UCMIG45E2042
Commercial Telematics Market Size, Share, Growth Analysis, By Solution Type(OEM, Aftermarket), By Application(Solution, Services), By End User(Transportation & Logistics, Insurance), By Region(North America, U.S.) - Industry Forecast 2024-2031
Report ID:
UCMIG45E2042 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Commercial Telematics Market Insights
Market Overview:
The rising number of traffic accidents is one of the major factors driving the global market's expansion. Furthermore, the use of smartphones and 4G technology is likely to present a significant opportunity for market participants. Throughout the forecast period, the rapid development of the logistics and transportation industries is expected to boost the growth of the global commercial vehicle telematics market. The advancement of V2V and V2I communication technology, as well as self-driving vehicles, is increasing the number of vehicles that can communicate with each other, raising privacy and security concerns about GPS location, braking patterns, and speed, as well as how users will handle this data. The linked systems have access to information such as medical information, family information, addresses, and routes taken. Data privacy violations are one of the major barriers to end-user adoption of telematics solutions, particularly in countries with stringent regulations such as North America and China.
Commercial Telematics Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Application Software by segment aggregation, the contribution of the Application Software in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Commercial Telematics Market Report Snapshots
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