LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Commercial Telematics Market - Procurement Intelligence Report.
Disruptive trends in technological infrastructure and inadequacies in the same across geographies are impacting growth prospects in the commercial telematics market. To scale up to the technological strides that are being made in this market, commercial telematics suppliers are investing a major portion of their budget. This is eschewing their profit margin which is being compensated by increasing the price of the finished product in the market.
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In the next five years, it is expected that the commercial telematics market will witness a spend growth of over USD 40 billion. This spend growth will be attributed to the increasing demand for advanced telematics solutions in electric vehicles to ensure passenger safety and to assist drivers.
What are the commercial telematics price trends that are driving the overall price structure in the global commercial telematics market?
- Predictions of volatilities in the prices of raw materials such as lead, steel, tin, aluminum will increase the manufacturing cost incurred by commercial telematics suppliers which will have a subsequent inflationary impact on the procurement expenditure of buyers.
- The sharp rise in crude oil prices across countries will increase logistics costs borne by commercial telematics suppliers which will further inflate their OPEX.
Download the free sample of this report to know what the key category management objectives that you must adopt to address the price dynamism in the commercial telematics market.
What are the scopes of optimizing procurement spend with these upward rising commercial telematics price trends?
Optimizing procurement spend does not stop at getting the product from suppliers at reduced rates. Most of the buyers in the commercial telematics market fail to realize that an adequate supplier relationship management is crucial to create avenues to save costs in the long run and also to facilitate effective category management in a market that is characterized with price and demand dynamism.
Collaborate with commercial telematics suppliers to understand and obtain significant data that provide values
Commercial telematics solutions generally produce large amounts of data. It is essential to filter the same to get the information that is pertinent to the buyer’s needs. Buyers are advised to partner with commercial telematics suppliers who offer a greater understanding of the data generated by commercial telematics solutions and aid in the analysis of data points that are vital to their business needs. Such a partnership will aid buyers, fleet owners in particular, in understanding information that can truly predict future incidences based on their fleet operation data.
Alignment with business needs
Buyers can ask for demonstrations for a better understanding of the suppliers’ telematics capabilities and their use to them. Moreover, prior to large fleet installments, buyers can run a pilot program for a better understanding of the solution and implications of its implementation in practical situations.
Get a free demo of our web-based platform to get instant and real-time insights on the price trends and to know procurement strategies that are being adopted by your competitors.
Some of the key topics covered in this report are:
- Commercial telematics market spend segmentation by region
- Total cost of ownership analysis in the commercial telematics market
- Regional spend opportunity for commercial telematics suppliers
- Commercial telematics suppliers cost structure
- Commercial telematics suppliers selection criteria
- Commercial telematics suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the commercial telematics market
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