Commercial Vehicle Telematics Market Forecast to Witness Phenomenal Growth Opportunities by 2024 – Digital Journal

Commercial Vehicle Telematics Market – Global Industry Insights 2016-2024

This press release was orginally distributed by SBWire

Sarasota, FL — (SBWIRE) — 08/09/2017 — Commercial vehicle telematics market is exploring globally owing to services such as tracking and fleet management. Telematics systems provide fleet management solutions that will assist the organization to minimize the number of empty runs and successively it reduces fuel expenses. Fleet operators are using fleet management services in order to reduce which in turn minimizes overall vehicle downtime. Next-generation telematics protocol (NGTP) offers some advantages such as support for legacy systems, reduced barriers to collaborate and implement, enhanced value proposition of different players, and promotion and adoption of new technologies. This system will offer service providers robust, flexibility, cost-effectiveness, and scalable telematics solutions.

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Escalating demand for monitoring and vehicle tracking systems in the logistics sector is expected to drive the global commercial vehicle telematics market growth in future. Increasing adoption of the NGTP globally will foster the global market growth in the coming years. Increase in fuel prices and developing mobile connectivity across the automotive sector is the key factor responsible for the growth of the market. Telematics acts as a cornerstone for the efficient performance of the fleet management systems and logistic systems. High demand for connected vehicles is anticipated to strengthen the global commercial vehicle telematics market growth. Growing demand for refrigerated vehicles is anticipated to the consolidation of the cold chain logistics sector, which may further fuel the global commercial vehicle telematics market growth in future.

The global commercial vehicle telematics market is classified based on fitment type as aftermarket and original equipment manufacturers. Of these, aftermarket fitment segment is the leading in the global market due to considerable growth in the unorganized logistics sector. It is constantly in demand for fleet management solutions; this is anticipated to boost the global commercial vehicle telematics market growth and it is expected to continue its dominance in the near future. The global market is further fragmented on the basis of applications as retail, courier, tourism, cold chain, and pharma. Of these, cold chain contributed for the largest market share in the telematics technology. It majorly attributed to increased use of telematics in order to monitor the temperature of frozen items. Original equipment manufacturers are a second largest market and it may grab largest market chunk owing to rising partnerships among automobile manufacturers and telematics service providers.

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The global commercial vehicle telematics market is classified based on geography as Latin America, North America, Asia-Pacific, the Middle East & Africa, and Europe. North America holds the largest market share due to advancement in the technology. Europe is considered a mature market and but is somewhat on a lower side.

Market Competitive Players

Leading key vendors in the global commercial vehicle telematics market are Ashok Leyland., Arya Omnitalk, Tata Motors, Trimble Navigation, and CMC. Other players influencing the global market are eLogistics, Mahindra & Mahindra, and Dhanus Technologies.

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Commercial Vehicle Telematics Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa

Our value reports provide full, in-depth analysis of the parent market including most significant changes in market dynamics; the report also presents a detailed overview on segmentation of this market. We managed to present as many important information in essential form – thanks to our report You will learn more about former, on-going, and projected market analysis in terms of volume and value, assessment of niche industry developments and Market share analysis. We have not forgotten to present key strategies for major players, emerging segments and regional markets and last but not least, testimonials to companies in order to fortify their foothold in the market.

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