Commercial Vehicle Telematics Market - Competitive Landscape and Regional Analys

Posted by RASHMI on April 24th, 2019

A significant rise in the adoption of telematics technology owing to the reducing connectivity and sensor cost is projected to encourage the growth of the global commercial vehicle telematics market in the next few years. The telematics data can be harnessed in order to make better business decisions and strategies. This is estimated to drive the overall market in the near future.

The global commercial vehicle telematics market is projected to witness high growth in the coming years. The increasing number of road accidents is one of the major factors accelerating the growth of the global market. Furthermore, the use of smartphones and 4G technology is likely to act as a major opportunity for the market players. The rapid development of the logistics and transportation industries is expected to enhance the growth of the global commercial vehicle telematics market throughout the forecast period.

Among the key regional segments, Asia Pacific is estimated to register a healthy growth throughout the forecast period. The high growth of this region can be attributed to the rising awareness among consumers regarding safety of drivers and prevention of accidents.

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In addition to this, the untapped markets are estimated to generate promising growth opportunities for the market players. Furthermore, favorable government rules and regulations are estimated to accelerate the growth of the commercial vehicle telematics market in Asia Pacific throughout the forecast period. The North America market for commercial vehicle telematics is likely to witness significant growth in the next few years.