-- The analysts forecast global commercial telematics market to grow at a CAGR of 27.39% during the period 2016-2020.One of the major trends in the market is vehicle sharing telematics solutions. A sophisticated telematics tracking system manages the availability, access, and usage of vehicles for the emerging vehicle rental model, remotely. This system uses telematics units to provide all necessary captured data and operational control. This includes activating and accessing remote vehicles using RFID or a smartphone app to capture journey data for proper billing. Positioning data can be shared with mobile or web-based management and booking tools for the accurate status of potential vehicle pool locations.
Complete report on commercial telematics market spread across 53 pages, analyzing 5 major companies and providing 21 data exhibits is now available at http://www.reportsnreports.com/reports/496147-global-commercial-telematics-market-2016-2020.html.
Telematics is an automated system designed for vehicles that contain communication systems for real-time information transfer. Embedded telematics, tethered telematics, and integrated smartphone telematics are examples of some automated systems that are used by vehicle manufacturers. The growing demand for better vehicle fuel efficiency and safety in vehicles will spur the prospects for growth in this market. The utilization of telematics in vehicles will improve the driver’s behavior, reduce fuel consumption, improve driver safety, and enable cost savings.
The growing availability of free telematics services is an important factor that will drive the prospects for growth in this market. Recently, it has been observed that the advent of free services, such as content upgrades, will help to drive the sale of telematics systems among the clients. Vehicle OEMs are promoting this technology by offering free subscriptions to new car buyers.
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Segmentation by end user and analysis of the commercial telematics market – Government, Vehicle manufacturers, Media and entertainment, Healthcare, Insurance, Logistics and transportation
In this market study, analysts have estimated the logistics and transportation segment to be the highest revenue generating segment during the forecast period. At present, this market segment dominates the commercial telematics market and is envisaged to continue its market dominance until 2020 owing to the rising need to improve customer safety and security, eliminate idling, and optimize routing. This market segment is envisaged to surpass USD 29 billion by 2020.
Geographical segmentation of the commercial telematics market
Commercial telematics market research analyst has estimated the Americas to be the highest revenue generating segment during the forecast period. This region is estimated to post an impressive market value of more than USD 23 billion by 2020, and the prospects for market growth in the region will be driven by the presence of a strong LTE connectivity infrastructure in the Americas.
The commercial telematics market is highly fragmented due to the presence of numerous hardware and software suppliers. The market is gaining momentum due to the formation of global partnerships and increasing competition among the vendors. The rising focus on fuel efficiency, safety, asset tracking and monitoring, and compliance is anticipated to bolster growth in this market.
Key players in the global commercial telematics market: AirIQ, Fleetmatics, MiX Telematics, TomTom Telematics and Trimble Navigation.
Other prominent vendors in the market are: Actsoft, Ctrack, FleetBoard, Kore Telematics, Masternaut, Octo Telematics, Omnitracs (Astrata Group), OnStar, PeopleNet, Scania, Spireon, TeleNav, Teletrac, Telogis, Telular (Avista Capital Partners), Traceon, Trakm8, Verizon Telematics, Webtech Wireless and Wireless Matrix (CalAmp).
Another related report is Automotive Telematics: Market Research Report 2015-2019, the forecast global automotive telematics market to grow at a CAGR of 23.37% over the period 2014-2019. Demand for built-in connectivity and telematics in automobile has led to technological improvements, which aim at enhancing the overall in-vehicle experience of the passengers and drivers. With consumers habitually interacting with their personal mobile devices, they expect the same experience from their in-vehicle entertainment and information systems, especially with respect to user interface. Browse complete report @ http://www.reportsnreports.com/reports/429916-automotive-telematics-market-research-report-2015-2019.html.
Key players in the Global Automotive Telematics Market: Agero, Aribiquity, Continental and Verizon
Other Prominent Vendors in the market are: AT&T, Bynx, Connexis, Ericsson, Fleetmatics Group, GM, Luxoft, Marelli, Mix Telematics, Octo Telematics, PTC, Bosch, TeleCommunication Systems, TELENAV, Telogis, TomTom International, Valeo, Vodafone, and WirelessCar.
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