MarketsandMarkets forecasts the global commercial telematics market to grow from USD 20.02 billion in 2015 to USD 47.58 billion by2020.
The commercial telematics market report comprises a thorough analysis of the global commercial telematics market based on the various types of solutions, services, and types. Furthermore, the report also forecasts the market values for the next 5 years, that is, from 2015 to 2020. For further understanding the market, in this report the market has been broken down into various segments and sub segments raging from types, solutions, regions and others.
During the analysis it was studied that, emerging markets such as China, Russia, Japan, Korea, and India among others are increasing their share in this market at a higher rate due to increasing demands and development of technology. Furthermore, vehicular crime has also increased to a great deal, which further fuels this market. Many governments throughout the globe have started implementing strict regulations to mandate the use of theft protection systems. High crime rates in Brazil have even led the government to introduce a mandate for (stolen vehicle tracking) SVT to be fitted as standard on all new vehicles in order to combat this growing problem.
Recently, the latest trend emerging is the growth of navigation services, V2V communication and in particular traffic information. Traffic information is perceived as must-have services in many regions across worldwide. In Europe, both Audi and BMW announced the launch of TPEG IP, next generation traffic information services delivered over a cellular channel. Ford and Toyota in the U.S. have also launched navigation systems that use traffic information delivered over a cellular network.
There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, economic, social, technological and economic factors. For instance, exchange rates, is one of the economic factors which are expected to have a moderate rating of impact on this market. Therefore, the dollar fluctuations are expected to not seriously affect the forecasts in the emerging Asia-Pacific (APAC) region.
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the market into products, application market, and learning modes covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across the different users and regions.
- This report will help them better understand the competitors and gain more insights to better position ones business. There is a separate section on competitive landscape, including end user analysis, mergers and acquisition and expansions. Besides this, there are company profiles of the ten major players in this market. In this section, market internals are provided that can help place one’s company ahead of the competitors.
- The report helps them understand the pulse of the market. The report provides information on key market drivers, restraints, challenges, and opportunities.