Global Vehicle Telematics Market is expected to reach USD 20.12 billion by 2025, from USD 7.31 billion growing at a CAGR of 20.3% during the forecast period of 2020 to 2025. Vehicle telematics can be termed as electronic technology that is involved in cars which helps the customer to keep the cars safer prevent it from getting lost and helps to summon roadside assistance. These telematics can also be termed as crash-resistant black box which receives wireless information which is advance than the radio.
Key Market Competitors: Global Vehicle Telematics Market
The key players operating in the global vehicle telematics market are –
· PTC, Inc
· Trimble Inc.
· Tomtom Telematics Bv
· Verizon Telematics, Inc.
The other players in the market are Mix Telematics International (PTY) Ltd, Zonar Systems, Inc, OCTO Telematics Ltd, Omnitracs, LLC, Masternaut Limited, Microlise Group Ltd, Inseego Corporation, Volkswagen Commercial Vehicles and many more.
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Segmentation: Global Vehicle Telematics Market
· By Provider Type (OEM, Aftermarket)
· By Vertical (Transportation, Logistics, Government, Utilities, Travel, Tourism, Construction, Education, Healthcare, Media, Entertainment)
· By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Landscape: Global Vehicle Telematics Market
The global vehicle telematics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Vehicle telematics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
· Increasing adoption of NGTP would enhance the telematics service delivery
· Proliferation of telematics technology due to decreasing sensor and connectivity cost
· Growing government mandate for deploying vehicle tracking in commercial vehicles
· Rising demand for smartphones supplements the adoption of telematics solutions and services
· Increased communication, leading to security and privacy concern
· Complete network coverage and elimination of blind spots
Key Insights in the report:
· Historical and current market size and projection up to 2025
· Market trends impacting the growth of the global vehicle telematics market
· Analyze and forecast the vehicle telematics market on the basis of provider type and vertical
· Trends of key regional and country-level markets for processes, derivative, and application
· Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
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