DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Commercial Telematics Market - Forecasts from 2016 to 2021" report to their offering.
Global Commercial Telematics Market is expected to grow at a compound annual growth rate of 20.28% over the forecast period to reach US$51.289 billion by 2021, growing from US$20.375 billion in 2016. Telematics are information and telecommunication products which combine telecommunication and computer services in order to transfer a large amount of real-time data in vehicles.
Factors such as high penetration of smartphones, availability of high-speed internet connectivity, and low connectivity cost are driving the demand for commercial Telematics across various end-use industries. Stringent government regulations regarding safety compliance mandates, driver monitoring, and road infrastructure constraints have made installation of GOS trackers and satellite navigation, thereby bolstering the growth of global commercial Telematics market.
Fleet/Asset management solutions hold the largest share of global commercial Telematics market owing to the high volatility of fuel prices worldwide. Growing demand for immediate healthcare facilities will provide a great opportunity for the expansion of global commercial Telematics market by way of increasing need for connected vehicles.
Geographically, North America held the largest market size in 2015 and will continue its dominance due to early adoption of the new technology in transportation and logistics sector along with other industry verticals. APAC region, however, will witness the fastest regional market growth owing to booming automobile industry coupled with supportive government regulations in the region. Low awareness regarding the solution benefits among commercial fleet owners will restrain the growth of global commercial Telematics market during the forecast period.
- Ford Motors
- Trimble Navigation Ltd.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Commercial Telematics Market Forecast by Solution (US$ billion)
6. Commercial Telematics Market Forecast by Industry Vertical (US$ billion)
7. Commercial Telematics Market Forecast by Geography (US$ billion)
8. Competitive Intelligence
9. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/3fs4jx/commercial