Global Commercial Vehicle Telematics Market Size – By Component (Hardware and Software), By Application (Fleet Tracking, Remote Diagnostics, Driver Behavior Monitoring, Vehicle Safety and Security and Fuel Management), By Connectivity (Embedded Telematics, Tethered Telematics and Integrated Telematics) By End-user (Logistics and Transportation, Construction, Mining, Oil & Gas and Others) & Region – Global Forecasts 2024 - 2034
- PUBLISHED ON
- 2024-09-10
- NO OF PAGES
- 260
- CATEGORY
- Automotive & Transportation
Market Overview
The Commercial Vehicle Telematics market is predicted to develop at a compound annual growth rate (CAGR) of 15.1% from 2024 to 2034, when it is projected to reach USD 243,976.15 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 66,524.58 Million in 2024.
SOURCE: We Market Research
The global
commercial vehicle telematics market refers to the industry involved in the
deployment and use of telematics systems within commercial vehicles. Telematics
combines telecommunications, vehicular technologies, and computer systems to
collect, transmit, and analyze data related to vehicle performance, location,
and driver behavior. The market encompasses various sectors such as logistics
and transportation, construction, mining, oil & gas, and others, each
benefiting from tailored telematics solutions to address specific operational
challenges and needs.
The global commercial vehicle telematics market is expanding rapidly due to advancements in technology, increasing demand for fleet efficiency, and regulatory requirements. North America leads the market, followed by Europe and Asia Pacific, with growth also occurring in MEA and Latin America. As telematics systems continue to evolve and integrate with emerging technologies like autonomous vehicles, the market is expected to see continued growth and innovation.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 66,524.58 Million |
|
Market
Forecast in 2034 |
USD 243,976.15
Million |
|
CAGR % 2024-2034 |
15.1% |
|
Base
Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Component,
By Connectivity, By Application, By End-user and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Commercial Vehicle Telematics Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Commercial Vehicle Telematics
Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Commercial Vehicle Telematics Segmentation
Market- By Application Analysis
By Application,
the Commercial Vehicle Telematics market is categories into Fleet Tracking,
Remote Diagnostics, Driver Behavior Monitoring, Vehicle Safety and Security and
Fuel Management. Fleet Tracking segments dominate the market with the largest
share, accounting for over 40% of the market in 2023. Fleet tracking is one of
the most widely adopted applications of telematics. It involves real-time
monitoring of vehicle location, route optimization, and overall fleet
management. This application is crucial for improving operational efficiency
and ensuring timely deliveries. Companies like Geotab and Verizon Connect offer
advanced fleet tracking solutions that provide real-time GPS tracking, route
planning, and automated alerts for fleet managers.
The
following segments are part of an in-depth analysis of the global Commercial
Vehicle Telematics market:
|
Market Segments |
|
|
By
Component |
·
Hardware o
GPS Tracking Devices o
On-Board Diagnostics (OBD) Devices o
Fleet Management Devices ·
Software o
Fleet Management Software o
Driver Management Software o
Vehicle Maintenance Software |
|
By Connectivity |
·
Embedded Telematics ·
Tethered Telematics ·
Integrated Telematics |
|
By Application |
·
Fleet Tracking ·
Remote Diagnostics ·
Driver Behavior Monitoring ·
Vehicle Safety and Security ·
Fuel Management |
|
By End-user |
·
Logistics and Transportation ·
Construction ·
Mining ·
Oil & Gas ·
Others |
Commercial Vehicle Telematics Industry: Regional Analysis
North America Market Forecast
North America
dominates the global Commercial Vehicle Telematics market, accounting for
around 45% of the market share in 2023. North America holds the largest share
of the commercial vehicle telematics market, driven by advanced technological
infrastructure, stringent regulatory requirements, and high adoption rates of
telematics solutions. The U.S. and Canada have stringent regulations, such as
the Electronic Logging Device (ELD) mandate in the U.S., driving the adoption
of telematics.
Europe Market Statistics
Europe is also a
major market for telematics, driven by stringent regulations related to
emissions, safety, and environmental standards. The region is known for its
innovation and integration of advanced telematics solutions, supported by a
high level of infrastructure development.
Asia Pacific Market Forecasts
The Asia-Pacific
region is experiencing rapid growth in the commercial vehicle telematics market
due to increasing industrialization, urbanization, and infrastructure
development. Countries like China and India are significant contributors to
market growth, driven by the expansion of logistics and transportation sectors.
Middle East & Africa Market Statistics
The MEA region
has a smaller market share but is growing due to investments in infrastructure
and the expanding logistics and transportation sectors. Challenges such as
varying regulatory environments and lower technological adoption rates can
impact growth.
Key Market Players
The Commercial Vehicle Telematics Market is dominated
by a few large companies, such as
·
Geotab
·
Samsara
·
Trimble Inc.
·
Verizon Connect
·
Teletrac Navman
·
Fleet Complete
·
Continental AG
·
TomTom Telematics
·
Omnicomm
·
Porsche Tequipment
·
Sierra Wireless
·
Zonar Systems
·
HERE Technologies
·
Daimler FleetBoard
·
Bosch Automotive
· Other
1.
Global
Commercial Vehicle Telematics Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Commercial Vehicle
Telematics Market Scope and Market Estimation
1.2.1. Global Commercial Vehicle
Telematics Overall Market Size (US$ Bn), Market CAGR (%), Market forecast (2024
- 2034)
1.2.2. Global Commercial Vehicle
Telematics Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1. Component of Global Commercial
Vehicle Telematics Market
1.3.2. Connectivity of Global Commercial
Vehicle Telematics Market
1.3.3. Application of Global Commercial
Vehicle Telematics Market
1.3.4. End-user of Global Commercial
Vehicle Telematics Market
1.3.5. Region of Global Commercial
Vehicle Telematics Market
2.
Executive Summary
2.1. Demand Side Trends
2.2. Key Market Trends
2.3. Market Demand (US$ Bn) Analysis
2019 – 2023 and Forecast, 2024 – 2034
2.4. Demand and Opportunity
Assessment
2.5. Demand Supply Scenario
2.6. Market Dynamics
2.6.1. Drivers
2.6.2. Limitations
2.6.3. Opportunities
2.6.4. Impact Analysis of Drivers and Restraints
2.7. Pricing Trends Analysis
2.8. Overview of Technology Developments
2.9. Porter’s Five Forces Analysis
2.9.1. Bargaining Power of Suppliers
2.9.2. Bargaining Power of Buyers
2.9.3. Threat of Substitutes
2.9.4. Threat of New Entrants
2.9.5. Competitive Rivalry
2.10. PEST Analysis
2.10.1. Political Factors
2.10.2. Economic Factors
2.10.3. Social Factors
2.10.4. Technology Factors
2.11. Value Chain / Ecosystem Analysis
2.12. Key Regulation
3.
Global Commercial Vehicle
Telematics Market Estimates &
Historical Trend Analysis (2019 - 2023)
4.
Global Commercial Vehicle
Telematics Market Estimates &
Forecast Trend Analysis, by Component
4.1. Global Commercial Vehicle
Telematics Market Revenue (US$ Bn) Estimates and Forecasts, by Component, 2019
- 2034
4.1.1. Hardware
4.1.1.1.
GPS
Tracking Devices
4.1.1.2.
On-Board
Diagnostics (OBD) Devices
4.1.1.3.
Fleet
Management Devices
4.1.2. Software
4.1.2.1.
Fleet
Management Software
4.1.2.2.
Driver
Management Software
4.1.2.3.
Vehicle
Maintenance Software
5.
Global Commercial Vehicle
Telematics Market Estimates &
Forecast Trend Analysis, by Connectivity
5.1. Global Commercial Vehicle
Telematics Market Revenue (US$ Bn) Estimates and Forecasts, by Connectivity, 2019
- 2034
5.1.1. Embedded Telematics
5.1.2. Tethered Telematics
5.1.3. Integrated Telematics
6.
Global Commercial Vehicle
Telematics Market Estimates &
Forecast Trend Analysis, by Application
6.1. Global Commercial Vehicle Telematics
Market Revenue (US$ Bn) Estimates and Forecasts, by Application, 2019 - 2034
6.1.1. Fleet Tracking
6.1.2. Remote Diagnostics
6.1.3. Driver Behavior Monitoring
6.1.4. Vehicle Safety and Security
6.1.5. Fuel Management
7.
Global Commercial Vehicle
Telematics Market Estimates &
Forecast Trend Analysis, by End-user
7.1. Global Commercial Vehicle
Telematics Market Revenue (US$ Bn) Estimates and Forecasts, by End-user, 2019 -
2034
7.1.1.Logistics
and Transportation
7.1.2.Construction
7.1.3.Mining
7.1.4.Oil
& Gas
7.1.5. Others
8.
Global Commercial Vehicle
Telematics Market Estimates &
Forecast Trend Analysis, by Region
8.1. Global Commercial Vehicle
Telematics Market Revenue (US$ Bn) Estimates and Forecasts, by Region, 2019 -
2034
8.1.1. North America
8.1.2. Eastern Europe
8.1.3. Western Europe
8.1.4. Asia Pacific
8.1.5. Middle East & Africa
8.1.6. Latin America
9.
North
America Commercial Vehicle Telematics Market: Estimates & Forecast Trend Analysis
9.1.
North
America Commercial Vehicle Telematics Market Assessments & Key Findings
9.1.1. North America Commercial Vehicle
Telematics Market Introduction
9.1.2. North America Commercial Vehicle
Telematics Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
9.1.2.1. By Component
9.1.2.2. By Connectivity
9.1.2.3. By Application
9.1.2.4. By End-user
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Western Europe Commercial
Vehicle Telematics Market: Estimates
& Forecast Trend Analysis
10.1. Western Europe Commercial
Vehicle Telematics Market Assessments & Key Findings
10.1.1. Western Europe Commercial
Vehicle Telematics Market Introduction
10.1.2. Western Europe Commercial
Vehicle Telematics Market Size Estimates and Forecast (US$ Billion) (2019 -
2034)
10.1.2.1. By Component
10.1.2.2. By Connectivity
10.1.2.3. By Application
10.1.2.4. By End-user
10.1.2.5. By Country
10.1.2.5.1.
Germany
10.1.2.5.2.
Italy
10.1.2.5.3.
U.K.
10.1.2.5.4.
France
10.1.2.5.5.
Spain
10.1.2.5.6.
Benelux
10.1.2.5.7.
Nordics
10.1.2.5.8. Rest
of W. Europe
11. Eastern Europe Commercial
Vehicle Telematics Market: Estimates
& Forecast Trend Analysis
11.1. Eastern Europe Commercial
Vehicle Telematics Market Assessments & Key Findings
11.1.1. Eastern Europe Commercial
Vehicle Telematics Market Introduction
11.1.2. Eastern Europe Commercial
Vehicle Telematics Market Size Estimates and Forecast (US$ Billion) (2019 -
2034)
11.1.2.1. By Component
11.1.2.2. By Connectivity
11.1.2.3. By Application
11.1.2.4. By End-user
11.1.2.5. By Country
11.1.2.5.1.
Russia
11.1.2.5.2.
Hungary
11.1.2.5.3.
Poland
11.1.2.5.4.
Balkan & Baltics
11.1.2.5.5. Rest of E. Europe
12. Asia Pacific Commercial
Vehicle Telematics Market: Estimates
& Forecast Trend Analysis
12.1. Asia Pacific Market Assessments
& Key Findings
12.1.1. Asia Pacific Commercial Vehicle
Telematics Market Introduction
12.1.2. Asia Pacific Commercial Vehicle
Telematics Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
12.1.2.1. By Component
12.1.2.2. By Connectivity
12.1.2.3. By Application
12.1.2.4. By End-user
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia & New Zealand
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific
13. Middle East & Africa Commercial
Vehicle Telematics Market: Estimates
& Forecast Trend Analysis
13.1. Middle East & Africa Market Assessments
& Key Findings
13.1.1. Middle
East & Africa Commercial
Vehicle Telematics Market Introduction
13.1.2. Middle
East & Africa Commercial
Vehicle Telematics Market Size Estimates and Forecast (US$ Billion) (2019 -
2034)
13.1.2.1. By Component
13.1.2.2. By Connectivity
13.1.2.3. By Application
13.1.2.4. By End-user
13.1.2.5. By Country
13.1.2.5.1. UAE
13.1.2.5.2. Saudi
Arabia
13.1.2.5.3. Turkey
13.1.2.5.4. South
Africa
13.1.2.5.5. Rest of
MEA
14. Latin America
Commercial Vehicle Telematics Market:
Estimates & Forecast Trend Analysis
14.1. Latin America Market Assessments
& Key Findings
14.1.1. Latin America Commercial Vehicle
Telematics Market Introduction
14.1.2. Latin America Commercial Vehicle
Telematics Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
14.1.2.1. By Component
14.1.2.2. By Connectivity
14.1.2.3. By Application
14.1.2.4. By End-user
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of
LATAM
15. Country Wise Market:
Introduction
16. Competition Landscape
16.1. Global Commercial Vehicle
Telematics Market Product Mapping
16.2. Global Commercial Vehicle
Telematics Market Concentration Analysis, by Leading Players / Innovators /
Emerging Players / New Entrants
16.3. Global Commercial Vehicle
Telematics Market Tier Structure Analysis
16.4. Global Commercial Vehicle
Telematics Market Concentration & Company Market Shares (%) Analysis, 2023
17. Company Profiles
17.1.
Geotab
17.1.1. Company Overview & Key Stats
17.1.2. Financial Performance & KPIs
17.1.3. Product Portfolio
17.1.4. SWOT Analysis
17.1.5. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
17.2. Samsara
17.3. Trimble Inc.
17.4. Verizon
Connect
17.5. Teletrac
Navman
17.6. Fleet Complete
17.7. Continental AG
17.8. TomTom
Telematics
17.9. Omnicomm
17.10. Porsche
Tequipment
17.11. Sierra
Wireless
17.12. Zonar Systems
17.13. HERE
Technologies
17.14. Daimler
FleetBoard
17.15. Bosch
Automotive
17.16. Others
18. Research
Methodology
18.1. External Transportations /
Databases
18.2. Internal Proprietary Database
18.3. Primary Research
18.4. Secondary Research
18.5. Assumptions
18.6. Limitations
18.7. Report FAQs
19. Research Findings & Conclusion
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Frequently Asked Questions
What is the market size of Commercial Vehicle Telematics Market in 2024?
Commercial Vehicle Telematics Market was valued at USD 66,524.58 Million in 2024.
What is the growth rate for the Commercial Vehicle Telematics Market?
Commercial Vehicle Telematics Market size will increase at approximate CAGR of 15.1% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the market are Geotab, Samsara, Trimble Inc., Verizon Connect, Teletrac Navman, Fleet Complete, Continental AG, TomTom Telematics, Omnicomm, Porsche Tequipment, Sierra Wireless, Zonar Systems, HERE Technologies, Daimler FleetBoard, Bosch Automotive and others.
Which region dominates the Commercial Vehicle Telematics Market?
North America dominates the market with an active share of 45%.
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