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The Global Commercial Vehicle Telematics Market size was valued at around USD 4.9 billion in 2023 & is estimated to grow at a CAGR of around 15% during the forecast period, i.e., 2024-30. The key factors contributing to the growth of the Global Commercial Vehicle Telematics Market included the rising demand for fleet management solutions and regulatory mandates for enhancing security and safety. In addition, the fundamental factor propelling the growth of the market is the rising urge for minimal consumption of fuel. Commercial Vehicle Telematics offers a fleet management solution, combining p
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Global Commercial Vehicle Telematics Market Research Report: Forecast (2024-2030) • GET SAMPLE REPORT • MARKNTEL ADVISORS
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Market Insights The Global Commercial Vehicle Telematics Market size was valued at around USD 4.9 billion in 2023 & is estimated to grow at a CAGR of around 15% during the forecast period, i.e., 2024-30. The key factors contributing to the growth of the Global Commercial Vehicle Telematics Market included the rising demand for fleet management solutions and regulatory mandates for enhancing security and safety. In addition, the fundamental factor propelling the growth of the market is the rising urge for minimal consumption of fuel. Commercial Vehicle Telematics offers a fleet management solution, combining predictive servicing and comprehensive data analytics to expedite route optimization and enhance the capability of real-time tracking.
Market Trends Global Commercial Vehicle Telematics Market Trend: Growing Inclination Towards Connected & Autonomous Vehicles Integrated with AI – Connected & autonomous vehicles have advanced smart safety feature that helps consumers drive safely & increase reliability among the consumers. These advanced features are also helping to build trust in autonomous vehicles. Therefore, significant acceleration has been witnessed in the market for commercial vehicle telematics with the adoption of connected and autonomous vehicles worldwide. In addition, AI-integrated commercial vehicle telematics solutions showcase the capability of enhanced vehicle control along with autonomous navigation technology, which is accelerating the demand for AI-driven autonomous telematics solutions. Thus, autonomous driving solutions integrated with AI are all set to augment market growth during the forecast period.
Market Segments Commercial Vehicle Telematics Market Report - By Offering (Software [Fleet Management Software, Safety Management Software, Telematics Productivity Software, Telematics Compliance Software, V2x Software, Others], Services [Professional Services, Managed Services]), By Propulsion Type (IC Engine Vehicles, Electric Vehicles, Hybrid Vehicles), By Vehicle Type (Light Commercial Vehicles, Medium & Heavy Commercial Vehicles), By Sales Channel (OEMs, Aftermarket), By End Users (Fleet Operators, Auto Financing & Insurance Providers, Logistics & Cargo Operators, Public Transportation Authorities, Emergency Services & First Responders, Autonomous Vehicle Oems & Technology Providers, Agri & Farm Operators, Mine Developers & Operators) and others
Top Companies Verizon Connect, Geotab, Trimble, Ptc Inc., Tomtom, Omnitracs, Masternaut Limited, Microlise, Inseego Corporation, Samsara, Octo Telematics, Mix Telematics, Zonar Systems, TeletracNavman, Spireon, Others
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MarkNtel Advisors Target Geographies- Focus Areas • MarkNtel has strategically defined its target areas which are based on evaluation by its analysts after analysing the growth potential of various regions. Few of those parameters include: • -Political, Economic, Social, Technological and Environmental Analysis • -Credit Ratings provided by leading institutions • -GDP projections by bodies such as the World Bank, IMF, OECD, etc. • -Market Disruptions and the “Next Big Things”
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