Commercial Telematics Market Propelled by Government Regulations Mandating Use of Telematics
A featured report, titled “Commercial Telematics Market (By Type - OEM Telematics (Embedded and Hybrid) and Aftermarket Telematics (Embedded and Portable); By Application - Fleet/Asset Managemen...
A featured report, titled “Commercial Telematics Market (By Type - OEM Telematics (Embedded and Hybrid) and Aftermarket Telematics (Embedded and Portable); By Application - Fleet/Asset Management, Satellite Navigation, Infotainment, Insurance Telematics, Telehealth Solutions, Remote Alarm and Monitoring, and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” has been added to the repository of Market Research Reports Search Engine (MRRSE).
In 2013, the commercial telematics market was estimated at US$14.7 bn. According to the report, the global commercial telematics market will expand at a healthy CAGR of 18.0% during the forecast period from 2014 to 2020. Several factors will drive the global commercial telematics market. The widespread application of telematics technology across many industries such as insurance and healthcare will drive the commercial telematics market. Moreover, the growing number of partnerships between telematics solution providers and automobile manufacturers will also propel the market. Another key trend that will drive the global telematics market is the emergence of government regulations mandating the use of telematics technology.
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Although the global commercial telematics market will be driven by the aforesaid factors, it will be restrained by the high initial costs related to deploying this technology. Moreover, the privacy concerns related to exposure of sensitive data will also challenge the market.
Broadly, the global commercial telematics market is segmented on the basis of type, application, end use, and geography. By type, the global commercial telematics market is divided into portable aftermarket telematics, embedded aftermarket telematics, aftermarket telematics, hybrid OEM systems, and OEM telematics. Application-wise, the global commercial telematics market is classified into remote alarm and monitoring, telehealth solutions, insurance telematics, infotainment, satellite navigation, fleet/asset management, and others. By end use, the global commercial telematics market is divided into manufacturing, insurance, government and utilities, construction, healthcare, and transportation and logistics.
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