DUBLIN--(BUSINESS WIRE)--The "Commercial Vehicle Telematics Market in the Americas 2019-2023" report has been added to ResearchAndMarkets.com's offering.
One trend in the market is usage of advanced analytics to optimize fleet efficiency.
Fleet operators receive large amounts of data related to their daily operations through various channels, such as documents from employees and technicians, fuel bills, routes traversed by vehicles, and work order performance reports. Integration of this data into the enterprise resource planning (ERP) system improves workflows and operational analysis.
According to the report, one driver in the market is cost saving due to adoption of telematics-enabled UBI.
Regulations play a critical role in the adoption of insurance in the automotive segment. Regulations for mandatory motor insurance are becoming a crucial driver for UBI adoption. UBI allows insurers to create risk profiles for individual customers based on real-time driving behavior tracked by onboard units. As UBI benefits both insurers and drivers, it is registering high growth in developed regions like Europe and North America. Hence, it will be beneficial for fleet operators to adopt UBI and reduce the premium amounts by encouraging the safe driving behavior.
Further, the report states that one challenge in the market is high cost associated with embedded telematics services.
Initial costs of setting up telematics include the license, setup, and installation fee, in addition to the payment for customization and integration with current systems. Additionally, the license fee has to be renewed periodically, which adds to the overall cost. Also, integration or customization can be more expensive than the price of telematics devices and license fees. For instance, Verizon has a hardware cost of about $100 for its telematics offering, with a monthly fee of about 526 for a one-year subscription.
Key Players
- Agero
- Continental
- Omnitracs
- TomTom International
- Trimble
- Verizon
Topics Covered
1. Executive Summary
2. Scope of the Report
3. Market Landscape
4. Market Sizing
5. Five Forces Analysis
6. Market Segmentation by Application
7. Customer Landscape
8. Market Segmentation by Type
9. Geographic Landscape
10. Decision Framework
11. Drivers and Challenges
12. Market Trends
13. Vendor Landscape
14. Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/9rbmlx/americas?w=4
