LONDON--(BUSINESS WIRE)--Technavio has been monitoring the commercial telematics market, operating under the information technology industry. The latest report on the commercial telematics market, 2020-2024 estimates it to register an incremental growth of USD 23.15 bn, at a CAGR of almost 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Bridgestone Corp., Continental AG, General Motors Co., Geotab Inc., Omnitracs LLC, Trimble Inc., Verizon Communications Inc., Visteon Corp., Volkswagen Group, and Volvo Group are among some of the major market participants.
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The increasing adoption of driver assistance systems has been instrumental in driving the growth of the market. Vendors are focusing on the development of usage-based insurance (UBI) in connected cars and smart apps, which will also contribute to the growth of the commercial telematics market. However, the complexity of telematics software and hardware design might hamper market growth.
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Commercial Telematics Market 2020-2024: Segmentation
Commercial Telematics Market is segmented as below:
- Embedded Systems
- Tethered Systems
- Smartphone Integration Systems
Commercial Telematics Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The commercial telematics market report covers the following areas:
- Commercial Telematics Market Size
- Commercial Telematics Market Trends
- Commercial Telematics Market Industry Analysis
This study identifies the growth of embedded telematics solutions as one of the primary trends anticipated to boost the Commercial Telematics Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Commercial Telematics Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist commercial telematics market growth during the next five years
- Estimation of the commercial telematics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the commercial telematics market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of commercial telematics market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Solutions - Market size and forecast 2019-2024
- Services - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Platform
- Market segments
- Comparison by Platform placement
- Embedded systems - Market size and forecast 2019-2024
- Tethered systems - Market size and forecast 2019-2024
- Smartphone integration systems - Market size and forecast 2019-2024
- Market opportunity by Platform
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendor Analysis
- Market positioning of vendors
- Bridgestone Corp.
- Continental AG
- General Motors Co.
- Geotab Inc.
- Omnitracs LLC
- Trimble Inc.
- Verizon Communications Inc.
- Visteon Corp.
- Volkswagen Group
- Volvo Group
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.