The Business Research Company’s Commercial Vehicle Telematics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 27, 2024 /EINPresswire.com/ — The global commercial vehicle telematics market, valued at $50.64 billion in 2023, is poised to grow to $97.44 billion by 2028, marking a compound annual growth rate (CAGR) of 12.9%. This growth is driven by several factors including regulatory mandates, optimization of fleet management, cost reduction initiatives, and the increasing demand for real-time data and analytics in the logistics and e-commerce sectors.
Key Drivers Fueling Market Growth
The rapid expansion of the commercial vehicle telematics market is primarily fueled by the proliferation of connected vehicles and the rising demand for last-mile delivery services. Moreover, the industry’s focus on sustainable practices, including the adoption of electric and autonomous vehicles, further boosts market prospects. The integration of telematics solutions for predictive maintenance and real-time traffic management is also contributing significantly to market expansion.
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Major Players and Market Trends
Key players such as Verizon Communications Inc., Cisco Systems Inc., and Continental AG are actively enhancing their offerings through strategic partnerships and technological advancements. Companies like Garmin Ltd. and Trimble Inc. are focusing on telematics solutions that optimize electric vehicle (EV) performance and safety.
In a notable industry move, Hertz partnered with Amazon Web Services Inc. in 2022 to leverage cloud computing and advanced analytics for enhancing customer experiences and fleet management efficiencies. This partnership underscores the industry trend towards integrating advanced data analytics and telematics features into mobility solutions.
Market Segments
• Type: Solutions, Services
• Provider Type: Original Equipment Manufacturer (OEM), Aftermarket
• Vertical: Transportation And Logistics, Government And Utilities, Travel And Tourism, Construction, Education, Healthcare, Other Verticals
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific dominated the commercial vehicle telematics market in 2023 and is anticipated to maintain its position as the fastest-growing region in the forecast period. The region’s growth is fueled by technological advancements and increasing investments in smart transportation solutions.
You can directly purchase the commercial vehicle telematics gmr 2024 here –
https://www.thebusinessresearchcompany.com/report/commercial-vehicle-telematics-global-market-report
Commercial Vehicle Telematics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Commercial Vehicle Telematics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on commercial vehicle telematics market size, commercial vehicle telematics market drivers and trends, commercial vehicle telematics market major players, competitors’ revenues, market positioning, and market growth across geographies. The commercial vehicle telematics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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