Fleet telematics enables the exchange of information between the vehicle and the central authority. This system monitors the location and movement of vehicles by integration of on board diagnostics systems and global positioning system. Fleet telematics helps in recording the speed of a vehicle as well as other relevant information. Many fleet management companies use this telematics system for monitoring the behavior of their vehicles. Fleet telematics market is expected to grow significantly in coming years.
MARKET SCOPE
The "Global Fleet Telematics Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the fleet telematics market with detailed market segmentation by type, application, vehicle type, and geography. The report provides key statistics on the market status of the leading fleet telematics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global fleet telematics market is segmented into embedded, tethered and integrated.
- On the basis of application, the market is segmented into infotainment, remote diagnosis, navigation, safety and security and others.
- Based on vehicle type, the market is bifurcated into passenger cars, light commercial vehicles and heavy commercial vehicles.
MARKET DYNAMICS
Drivers:
- Regulations to install specific systems in the vehicles to drive the demand for fleet telematics across the world.
- Rising urbanization and increasing per capita disposable income to boost market growth of fleet telematics.
Restraints
- High installation cost may be a restraint for some vehicle owners.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The fleet telematics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the fleet telematics market in these regions.
IMPACT OF COVID-19 ON FLEET TELEMATICS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. This pandemic restricted movement of vehicles from one place to another to a drastic extent. Since almost entire transportation was declined in many regions of the world, demand for fleet telematics was also reduced significantly.
MARKET PLAYERS
The report covers key developments in the fleet telematics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from fleet telematics market are anticipated to lucrative growth opportunities in the future with the rising demand for fleet telematics in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the fleet telematics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Ctrack
- Daimler AG
- Deere and Company
- Harman International
- KORE Wireless
- Loconav
- Samsara Inc.
- Sprint Group Holdings Limited
- Trimble
- Verizon
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.