DUBLIN, Dec. 10, 2014 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/pgc34p/commercial) has announced the addition of the "Commercial Telematics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
Commercial telematics is used in various applications such as fleet/asset management, satellite navigation, infotainment, insurance telematics, telehealth solutions, remote alarm and monitoring, and others (including emergency warning systems and wireless vehicle safety communication). Commercial telematics caters to a number of end-use industries including transportation and logistics, healthcare, construction, government and utilities, insurance, and manufacturing. The global commercial telematics market was valued at USD 14.67 billion in 2013 and is expected to grow at a CAGR of 18.0% during the forecast period 2014 - 2020.
OEM telematics and aftermarket telematics are the two types of commercial telematics. Further, OEM telematics include embedded OEM systems and hybrid OEM systems; and aftermarket telematics include embedded aftermarket telematics and portable aftermarket telematics. OEM telematics are already installed in vehicles by automobile manufacturers whereas aftermarket telematics include solutions that are installed by the users of vehicles post purchase. Increasing partnerships between automobile manufacturers and telematics service providers is driving the market for OEM telematics. Further, government mandates for installations of telematics devices such as GPS devices and satellite navigators in commercial vehicles is also driving the growth of commercial telematics market.
Of the mentioned applications, fleet/asset management is one of the most important applications of commercial telematics. Vehicle tracking, driver behavior analysis, navigation, entertainment, and asset monitoring are some of the functions carried out by commercial telematics solutions. In recent years, vehicle theft rates in countries such as Brazil and the U.S. are increasing, which is leading to the increased adoption of insurance telematics solutions.
Furthermore, telematics is finding wide applications in industries such as healthcare, and government and utilities. Japan, Germany, U.S. and China are experiencing significant growth in the commercial telematics market for healthcare applications due to rising investments in technology to upgrade healthcare facilities in these countries. However, high cost incurred in initial installation and by network service providers are some challenges for wide adoption of commercial telematics solutions.
In 2013, North America was the largest market for commercial telematics in terms of revenue. The region has experienced significant adoption of commercial telematics solutions across industries such as transportation and logistics, and government and utilities. This is attributed mainly to high internet penetration in the North American region. Europe is expected to be the fastest growing region owing to the eCall initiative by the European Union.
The global commercial telematics market is led by players such as MiX Telematics Ltd., Omnitracs LLC, Verizon Communications Inc., WirelessCar AB, ORBCOMM Inc., Masternaut Limited, TomTom N.V., Trimble Navigation Limited, and OnStar LLC., among others.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Global Commercial Telematics Market Overview
Chapter 4 Global Commercial Telematics Market Revenue, by Type
Chapter 5 Global Commercial Telematics Market Revenue, by Application
Chapter 6 Global Commercial Telematics Market Revenue, by Industry
Chapter 7 Global Commercial Telematics Market Revenue, by Geography
Chapter 8 Company Profiles
- Masternaut Limited
- MiX Telematics Ltd.
- ORBCOMM Inc.
- Omnitracs LLC
- OnStar LLC
- TomTom N.V.
- Trimble Navigation Limited
- Verizon Communications Inc.
- WirelessCar AB
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SOURCE Research and Markets