Commercial Vehicle Telematics Market Size - By Solution (OEM, Aftermarket), By Application (Solution, Services), By End Use (Transportation & Logistics, Government & Utilities, Travel & Tourism, Construction), Vehicle Type & Forecast, 2023-2032

Commercial Vehicle Telematics Market Size

Commercial Vehicle Telematics Market size surpassed USD 33 billion in 2022 and is anticipated to grow at 11% CAGR from 2023 to 2032. The increasing adoption of electronic information systems in the automotive industry due to the growing need for fleet management and operational efficiency is a major driver propelling industry growth.
 

The need to reduce fuel consumption & vehicle downtime and improve driving safety & productivity is driving the demand for telematics solutions. The rising use of cloud-based telematics systems is augmenting growth in business revenues. Real-time data analysis, remote traffic management, and easy integration are some of the advantages of cloud solutions. The high cost of telematics systems and concerns over data privacy & cybersecurity are the key factors limiting industry growth. In addition, the absence of a universally accepted standard for the use of telematics will further hinder market development by 2032.

Commercial Vehicle Telematics Market Trends

One of the main drivers is the need to improve fleet management. Commercial vehicle telematics systems provide real-time vehicle tracking, route optimization and performance tracking. These capabilities allow fleet operators to better manage vehicles, allocate resources efficiently and streamline operations, increasing efficiency and productivity. Discounts are an important driving force for the automobile market. The rising sales of Light Commercial Vehicles (LCVs) are propelling the use of connected cars. In addition, the most important factor driving the use of telematics in transportation & logistics is the increasing demand for end-to-end services. Furthermore, the rising demand for connected vehicle services is expected to drive commercial vehicle telematics market growth.
 

Commercial Vehicle Telematics Market Analysis

The aftermarket segment will hold a market share of over 60% in 2022.  Aftermarket solutions meet the needs of existing commercial vehicles that are not equipped with telematics systems during production or assembly. These solutions are often tailored as per specific vehicle needs to provide vehicle tracking, fleet management, remote monitoring, driver behavior monitoring, and fuel management. These devices can be used to monitor the vehicle operation, its location, and driving behavior. It is usually connected to the vehicle's on-board diagnostic machine or other related devices to collect & transmit data.

The solution segment in commercial vehicle telematics market will register 10% growth through 2032. Fleet management tools allow fleet managers to monitor their vehicles in real time, plan more efficient operations that use less fuel, and manage compliance. Fleet operators are increasingly using fleet management systems to increase efficiency, reduce costs, and improve driver safety. In addition, due to the increasing demand for logistics services and e-commerce, the number of commercial vehicles on highways will increase, which in turn, is expected to increase the demand for fleet management solutions.
 

The transportation & logistics sector crossed valuation USD 10 billion in 2022. The introduction of cutting-edge automobiles, rising internet penetration, IoT penetration, and expanding government initiatives are primary factors driving business growth. Additionally, telematics systems help improve the path of transport & logistics by suggesting the best route for drivers by analyzing the real-time & historical data about traffic, congestion, weather, and vehicle performance. This reduces fuel consumption and lead times and improving the overall performance.

The North America commercial vehicle telematics market captured share of 30% in 2022. In terms of revenue, the automotive telematics market is expected to be dominated by the North America region during the forecast period. The demand for the latest telematics technology in the automotive industry is driving the regional growth. However, the use of new technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and big data analytics, has given regional suppliers time to develop solutions and sell them to customers.
 

Commercial Vehicle Telematics Market Share

Major companies operating in the commercial vehicle telematics industry include

• Continental AG
• Geotab Inc.
• Inseego Corporation
• Masternaut Limited
• Microlise Group Ltd.
• Octo Telematics Ltd.
• Omnitracs
• ORBCOMM
• Samsara
• Spireon
• Teletrac Navman
• TomTom Telematics BV
• Trimble Corporation
• Verizon Telematics, Inc.
• WEBFLEET Solutions
• Zonar System, Inc.
   

Commercial Vehicle Telematics Industry News:

• In April 2022, Hertz, an American rental car company, partnered with Amazon Web Services (AWS) to modernize and digitize its customer base including the key features of its new platform. Due to this partnership, Hertz's vehicle telematics technology will also benefit from AWS capabilities, providing diagnostic data for better fleet management and helping deliver new services to customers.
   
• In July 2020, Tata Motors launched the Fleet Edge, its next-generation connected fleet management platform. Fleet Edge provides real-time vehicle tracking as well as fuel consumption & breakdown reports.
   

This commercial vehicle telematics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Solution

• OEM
• Aftermarket

Market, By Application

• Solution
• Fleet Tracking and Monitoring
• Driver Management
• Safety and Compliance
• Insurance Telematics
• Others

• Services

Market, By End Use

• Transportation & Logistics
• Government & Utilities
• Travel & Tourism
• Construction
• Others

Market, By Vehicle Type

• Light Commercial Vehicle
• Medium Commercial Vehicle
• Heavy Commercial Vehicle

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Netherlands
  • Spain
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Singapore
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE
  • South Africa