Commercial Telematics Market size to Hit $63.89 Billion by 2030: Key Trends & Growth Drivers Revealed

WILMINGTON, NEW CASTLE, DE, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Commercial telematics Market by Solution Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global commercial telematics market size was valued at $16,871 million in 2020, and is projected to reach $63,891.5 million by 2030, registering a CAGR of 14.3% from 2021 to 2030.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/235

Increase in trend of connectivity solutions, ease of vehicle diagnosis, and government regulation for vehicle telematics drive the growth of the global commercial telematics market. However, high installation costs, threat of data hacking, and lack of uninterrupted & seamless internet connectivity hinder the market growth. On the contrary, intelligent transportation systems and improved performance of autonomous vehicles are expected to open new opportunities for the market players in the future.

Commercial telematics refer to the use of telematics systems in commercial vehicles by the fleet management companies, automobile insurance companies, and others. By using communication enabled device, telematics systems can store, receive, and send information, which can be used to control remote objects and manage resources such as individual cars or a fleet of cars. GPS tracking devices and vehicle diagnostics systems help transmit information to and from the vehicle’s computer system.

Advanced diagnostic system is expected to boost the growth of the commercial telematics market. In advanced diagnostics, the on-board system in the vehicle will supply data of the vehicle to both the automobile dealer and the customer, which can help predict potential automobile issues before they take place.

In fleet management, it is easy to track vehicle records and decide which vehicle has travelled the most and accordingly offer service with the help of connectivity solutions. The diagnostic service offered is an efficient way to diagnose the status of the vehicle. In addition, it allows consumers to manage the maintenance of their vehicle, thus saving money and time by avoiding unwanted expenses & breakdowns. The system provides a maintenance schedule and timely reminders to the consumer. The diagnostic system keeps a track of smoke emission and fuel consumption of the vehicle, thereby monitoring its engine health. This service sends a detailed report about the vehicle to the decision maker who decides on the service schedules for the automobile. Therefore, ease of vehicle diagnosis with the help mobile applications is expected to fuel the growth of the market.

🔰 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/235

Telematics is a relatively new technology. Events, such as unauthorized access to multiple car connectivity solutions or breaking into the in-vehicle connectivity system can restrict the commercial telematics market. The major security concern is that the hacker has access to the computer system of the cars as well as to the data that it collects and stores. Thus, hacking threats of vehicle with telematics systems is one of the factors expected to hamper the growth of the market.

The additional costs incurred while providing connectivity in the vehicle is expected to restrict the growth of the commercial telematics market. Providing connectivity solutions in the vehicle incurs additional expenses to the consumers in the form of hardware, connectivity solutions, and telecom service charges. These additional costs bestowed upon the consumer have a significant impact on the commercial telematics market. Thus, high installation cost of commercial telematics systems is expected to hinder the market.

The safety services offered in vehicles with telematics solutions are an appropriate example of cutting-edge aftermarket technology, which involves sharing data between the vehicle and the humans. Safety is a combination of telecommunication and automobile technology used to improve vehicle efficiency, reduce fuel consumption & maintenance cost, enhance security & safety measures, and assist the driver to enhance his overall driving experience. Features such as live traffic updates, automatic toll transactions, insurance telematics, road-side assistance in case of accidents or breakdowns and smarty routing & tracking will provide an exponential growth opportunity for the key players operating in the commercial telematics market.

There are several solutions offered in the market that collect, manage, explore, interpret, and analyze the driving data of a particular driver. Cars with telematics systems generate a huge amount of data every minute, providing an opportunity for superior consumer experience and establishing new business avenues in autonomous driving.

The global commercial telematics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020 in terms of revenue, accounting for more than one-third of the market. However, the market across Asia-Pacific is expected to portray the highest CAGR of 17.1% during the forecast period.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/commercial-telematics-market/purchase-options

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
Mix Telematics,
Trimble Inc.,
Navistar, Inc.,
Vontier Corporation,
Verizon Communications Inc.,
Geotab Inc.,
Fleet Complete,
Solera Holdings, Inc.,
Microlise limited,
Daimler AG,
Continental AG,
Karooooo Ltd.,
Michelin.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐓𝐞𝐥𝐞𝐦𝐚𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/railway-telematics-market-A12206 - Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/us-commercial-telematics-market-A10360 - Regional Opportunity Analysis and Industry Forecast, 2020-2027

https://www.alliedmarketresearch.com/automotive-over-the-air-ota-market-A07270 - Global Opportunity Analysis and Industry Forecast, 2021-2030

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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