$64 billion Commercial telematics market value by 2030
14% Annual market growth during this decade
72% Commercial fleets in the US using GPS tracking in 2020
Overview
With a wide selection of robust, compliant, multi-functional modules to suit the new era of connectivity, Technoration is well-positioned to facilitate the rise of commercial telematics.
• Socket Secure Layer to meet strict security and privacy requirements in data transmission
• MIMO technology, which greatly reduces errors and boosts data speeds
• Wide temperature ranges to ensure durability in harsh environments
• Backward network compatibility to enable coverage in remote areas
With the ability to manage vehicle fleets, coordinate supply chains, emergency services, and household deliveries, telematics systems are rapidly being built into the vehicles used by businesses and governments. These systems improve efficiency and productivity. Managers may coordinate travel and arrange quicker delivery routes with a real-time view of all the vehicles used by the company.
Connectivity can be utilised to provide alerts about mechanical or electrical problems, indicators of driver weariness, or adjustments in a refrigerated truck's temperature. In addition to lowering insurance rates, greenhouse gas emissions, and fuel expenses, telematics solutions can assist businesses in ensuring that staff are operating vehicles safely and effectively.
The use of connected cameras and cloud-based image recognition software to monitor changes in a driver's posture or behaviour can be crucial in this situation. Similar to this, networked road-facing cameras are able to record and transmit video of occurrences that call for the dispatch of emergency services or the filing of an insurance claim.
Market Synopsis
The market for commercial vehicle telematics was valued at USD 38.50 billion in 2021 and is anticipated to grow at a rate of 18.8% over the next five years. Increasing rates of accidents, worker injuries, liability concerns, and rising vehicle maintenance costs for commercial vehicles are the main reasons propelling market revenue development. Other important considerations include the expanding requirement for monitoring and optimising driving standards and tracking commercial vehicles.
There should be plenty of opportunities for commercial vehicle telematics providers as transportation and logistics evolve more rapidly. The growth of e-commerce presents new obstacles for the logistics industry. Telematics is being used by logistics organisations to manage the entire transportation system, find transport fleets, and plan routes. Additionally, significant advancements in data analytics and cloud computing have made it easier to track cars, monitor driver behavior, provide supportive solutions, and manage fleet operations, all of which are projected to contribute to the market's expected revenue development.
There should be plenty of opportunities for commercial vehicle telematics providers as transportation and logistics evolve more rapidly. The growth of e-commerce presents new obstacles for the logistics industry. Telematics is being used by logistics organisations to manage the entire transportation system, find transport fleets, and plan routes. Additionally, significant advancements in data analytics and cloud computing have made it easier to track cars, monitor driver behavior, provide supportive solutions, and manage fleet operations, all of which are projected to contribute to the market's expected revenue development.
Results:
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