USD 21.2 billion
Commercial Vehicle Telematics Market Size, Share, and Growth Analysis
Commercial Vehicle Telematics Market By Component (Solution, Services), By Fitment Type (Aftermarket, Original equipment manufacturers), By Application (Retail, Courier), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45B2200 |
Region:
Global |
Published Date: January, 2025
Pages:
191
|Tables:
98
|Figures:
71
Format -
Commercial Vehicle Telematics Market Insights
Commercial Vehicle Telematics Market size was valued at USD 21.2 billion in 2023 and is poised to grow from USD 23.85 billion in 2024 to USD 61.19 billion by 2032, growing at a CAGR of 12.5% during the forecast period (2025-2032).
Advancements in tracking and connectivity technologies are projected to drive up the demand for commercial vehicle telematics going forward. High emphasis on safety and tracking among commercial vehicle owners and imposition of stringent regulations for the same are also expected to favor the global commercial vehicle telematics market growth in the future. Increasing number of commercial vehicle owners and expansion of commercial vehicle fleets are also forecasted to boost the sales of commercial vehicle telematics solutions over the coming years. Efforts to reduce emissions and fuel consumption in commercial vehicles are also expected to promote the adoption of commercial vehicle telematics through 2032. Rising awareness regarding the benefits associated with the deployment of advanced commercial vehicle telematics solutions among fleet owners is also predicted to offer new opportunities for market players in the long run. On the contrary, high initial investments, poor connectivity in remote areas, data security and privacy concerns, and lack of standardization are anticipated to emerge as key restraints for commercial vehicle telematics companies across the forecast period and beyond.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Solutions
Fastest Growth
Services
Growth Rate
12.5% CAGR
Global Commercial Vehicle Telematics Market ($ Bn)
Country Share for North America Region (%)
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Commercial Vehicle Telematics Market Segments Analysis
Global Commercial Vehicle Telematics Market is segmented by Component, Fitment Type, Application and region. Based on Component, the market is segmented into Solution and Services. Based on Fitment Type, the market is segmented into Aftermarket and Original equipment manufacturers. Based on Application, the market is segmented into Retail, Courier, Tourism, Cold chain and Pharma. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Application
Solutions segment is projected to account for a dominant global commercial vehicle telematics market share in the future. Growing investments in the development of novel commercial vehicle telematics solutions using advanced technologies such as artificial intelligence and data analytics are helping the dominance of this segment. Surging demand for novel telematics solutions with advanced connectivity and features is also expected to further cement the high share of this segment. Advancements in software development and the need for continual updates are also creating new opportunities for commercial vehicle telematics providers. The solutions segment is further sub-segmented into fleet tracking and monitoring, driver management, insurance telematics, safety and compliance, V2X solutions, and others.
Meanwhile, the demand for commercial vehicle telematics services is expected to rise at an impressive pace over the coming years. Increasing number of commercial vehicle and fleet owners focusing on outsourcing their tracking and telematics operations are expected to help this segment generate new opportunities. Rising complexity of regulations regarding vehicle tracking and telematics solutions are also predicted to bolster the demand for services in the long run. Dearth of skilled professionals to deploy, operate, and maintain commercial vehicle telematics solutions is also expected to expand the business scope of commercial vehicle telematics service providers through 2032 and beyond.
Analysis by End User
Transportation & logistics segment is expected to account for a substantial chunk of the global commercial vehicle telematics market share going forward. Increasing emphasis on improving operational efficiency of transportation and logistics operations and rising use of advanced navigation systems are helping this segment bring in the most revenue. Efforts to of transportation and logistics companies to reduce fuel costs and optimize routes to maximize profitability and comply with emission reduction mandates are helping promote the adoption of commercial vehicle telematics around the world. Emphasis on improving supply chains to enhance productivity and provide a sustainable base for economic growth are also promoting the demand for commercial vehicle telematics solutions.
On the other hand, the demand for commercial vehicle telematics in insurers segment is slated to rise at a robust pace over the coming years. Rising incidence of insurance fraud and complexity in claims processing of vehicle insurance are expected to boost commercial vehicle telematics demand going forward. Growing popularity and demand for usage-based insurance is projected to create new opportunities for commercial vehicle telematics providers in the long run. Moreover, imposition of stringent regulations for insurers to deploy commercial vehicle telematics solutions are also helping this segment bring in more revenue across the study period and beyond.
Global Commercial Vehicle Telematics Market By Application
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Commercial Vehicle Telematics Market Regional Insights
North America is forecasted to emerge as the leader in terms of global commercial vehicle telematics industry. The presence of leading commercial vehicle telematics providers, rising sales of connected commercial vehicles, and increasing logistical activity are slated to bolster the dominance of this region. High adoption of advanced fleet management solutions and growing number of commercial vehicle fleets are also forecasted to create new opportunities for commercial vehicle telematics companies. The United States and Canada are estimated to emerge as the most opportune markets for commercial vehicle telematics providers operating in North America through 2032 and beyond.
The Asia Pacific region is estimated to emerge as the most opportune market for commercial vehicle telematics companies around the world going forward. Growing awareness regarding benefits of telematics, increasing sales of commercial vehicles, and need for proper fleet management and tracking are expected to bolster the demand for commercial vehicle telematics in this region. China, Japan, South Korea, and India are slated to be the most opportune markets owing to presence of leading commercial vehicle manufacturers and growing import-export activities in these countries. High adoption of intelligent transportation systems is also slated to bolster the demand for commercial vehicle telematics in the Asia Pacific region through 2032.
Global Commercial Vehicle Telematics Market By Region
- Largest
- Fastest
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Commercial Vehicle Telematics Market Dynamics
Commercial Vehicle Telematics Market Drivers
High Demand for Fleet Management Solutions
- A growing number of vehicle fleet owners are promoting the adoption of advanced commercial vehicle telematics solutions to keep track and manage their fleets efficiently. The use of fleet management solutions allows companies to optimize their operations and help them bring in more revenue in the long run.
Imposition of Regulations for Safety and Tracking
- Governments and regulatory bodies around the world are imposing new regulations to improve the safety and tracking capabilities of commercial vehicles going forward. Use of commercial vehicle telematics can help commercial vehicles to improve compliance with these mandates and thereby also promote the global commercial vehicle telematics market outlook through 2032.
Commercial Vehicle Telematics Market Restraints
Lack of Standardization
- Commercial vehicle telematics solutions do not have a standardized set of regulations or a framework that every company can follow. This lack of standardization creates issues in terms of compatibility and thereby could also impede the global commercial vehicle telematics market forecast across the study period and beyond.
High Initial Investments
- Commercial vehicle telematics solutions utilize advanced technologies and also come up with significant upfront hardware installation costs as well. Moreover, training expenses and software subscriptions also add up to the initial investments thereby deterring businesses with limited spending potential from opting for commercial vehicle telematics solutions in the long run.
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Commercial Vehicle Telematics Market Competitive Landscape
Commercial vehicle telematics companies should focus on developing new solutions that are affordable for all types of end users. Targeting North America and Asia Pacific region is slated to offer good returns for all commercial vehicle telematics providers. Strategic partnerships and collaborations are also emerging as key strategies for companies involved in the global commercial vehicle telematics industry. Integration of advanced technologies and launch of new solutions can also help maximize revenue generation potential for commercial vehicle telematics providers.
Top Players in Commercial Vehicle Telematics Market
- PowerFleet (USA)
- Gurtam (Lithuania)
- FUNTORO (Taiwan)
- Trimble Inc. (USA)
- Geotab (Canada)
- Teletrac Navman (USA)
- Omnitracs (USA)
- Mix Telematics (South Africa)
- Verizon Connect (USA)
- Fleet Complete (Canada)
- Samsara (USA)
- Zonar Systems (USA)
- Inseego Corp. (USA)
- Spireon (USA)
- Quartix (UK)
- GreenRoad Technologies (USA)
Recent Developments
- In September 2024, Bosch Global Software, KPIT, and Cummins joined hands to develop a new commercial commercial vehicle telematics solution. The new open source offering is projected to be launched with the Eclipse Software Defined Vehicle project to reduce telematics development costs for commercial vehicles.
- In July 2024, ZF’s Commercial Vehicles Solutions (CVS) division announced the launch of a new telematics solution designed especially for trailers. The new solution is intended to reduce operational costs for trailer manufacturers, rental companies and fleet whilst also acting as a one-for-all solution for other vehicle needs as well.
- In September 2023, Mullen Automotive Inc., an innovator in electric vehicle manufacturing announced the launch of a new advanced telematic solution for its commercial vehicle lineup. Commercial Pulse intends to provide a complete solution for vehicle diagnostics and fleet optimization for Mullen’s commercial vehicle users.
Commercial Vehicle Telematics Key Market Trends
- Use of Artificial Intelligence: Commercial vehicle telematics providers should focus on integration of artificial intelligence to provide predictive analytics and other advanced features for their users. Use of AI can help commercial vehicle telematics companies provide features such as proactive maintenance, driver behavior analysis, and accident prediction, which are gaining traction and becoming an essential in the overall telematics industry.
- Development of Subscription-based Models: Commercial vehicle telematics companies can focus on opting for subscription-based models to help promote their business scope and improve adoption scope in companies with limited spending potential. Focusing on this commercial vehicle telematics market trend can help companies increase their presence in small and medium enterprises in the long run.
Commercial Vehicle Telematics Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising demand for fleet management solutions and imposition of stringent mandates for vehicle safety and tracking are expected to bolster the demand for commercial vehicle telematics over the coming years. However, high initial investments and lack of standardization are expected to impede the adoption of commercial vehicle telematics solutions in the future. North America is slated to lead the demand for commercial vehicle telematics on a global level owing to the presence of leading telematics providers. Use of artificial intelligence and development of subscription-based models are estimated to offer new opportunities for companies as per this global commercial vehicle telematics market analysis.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 21.2 billion |
| Market size value in 2032 | USD 61.19 billion |
| Growth Rate | 12.5% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Commercial Vehicle Telematics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Commercial Vehicle Telematics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Commercial Vehicle Telematics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Commercial Vehicle Telematics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Commercial Vehicle Telematics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Commercial Vehicle Telematics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Commercial Vehicle Telematics Market Report Snapshots
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