Commercial Vehicle Telematics Market is expected to grow exponentially at a CAGR of 14.19%

A new research document with title ‘Global Commercial Vehicle Telematics Market 2017-2021’covering detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes important players/vendors such as , Ericsson, Luxoft, Magneti Marelli, Masternaut, Octo Telematics  etc The report will help user gain market insights, future trends and growth prospects for forecast period of 2017-2021.

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The telematics system involves the integrated use of telecommunications that facilitates communication (sending, receiving, and storing information) in the vehicle. The telematics system receives information from different sensors such as airbags, vehicle speed, advanced driver assistance system, braking system, and transmission control system. The global automotive telematics market is dominated by the commercial vehicles segment as nearly two-thirds of the global automotive telematics market was occupied by the segment in 2016.

“HTF’s analysts forecast the global commercial vehicle telematics market to grow at a CAGR of 14.19% during the period 2017-2021”

HTF recognizes the following companies as the key players in the global commercial vehicle telematics market: Continental, TomTom, Trimble, and Verizon.
Other Prominent Vendors in the market are: AT&T, Bynx, Ericsson, Luxoft, Magneti Marelli, Masternaut, Octo Telematics, Omnitracs, Bosch, Telenav, and Valeo.

Commenting on the report, an analyst from HTF’s team said: “One trend in the market is growing adoption of usage-based insurance (UBI) model. UBI is a service wherein the insurer is charged based on the information collected by the vehicle telematics system regarding the driving style and other parameters such as driving speed and distance driven. By using UBI, insurance companies can create risk profiles of insurers based on the data gathered from telematics systems. It has already been adopted in the passenger vehicle and commercial vehicle segments.”

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According to the report, one driver in the market is high demand for fleet management solutions in the logistics sector. The growth in the logistics sector has led to the demand for the efficient fleet management services to reduce the delivery time. The adoption of telematics systems leads to the reduction in the fuel expenses. Fleet management solutions help in the reduction of the empty runs, and thus, reduce the operational cost. As a result, the fleet management solutions are adopted by several fleet owners to reduce the overall vehicle downtime. This has also fostered the evolution of the fleet management solutions over the years. Earlier, the fleet management solutions used to offer basic telematics services such as fleet tracking with GPS and geographical information systems (GIS).

Further, the report states that one challenge in the market is issues arising due to data insecurity. Machine to machine (M2M) communications, earlier, involved the use of proprietary private networks or protocols for connectivity. However, the growing demand for connectivity has forced the industry players to provide the Internet connectivity in their offerings. In the process of adopting Internet connectivity, the industry has neglected many non-functional and security requirements of systems, like data security. Several security vulnerabilities can also arise due to the incorporation of multiple web applications and connecting Bluetooth in automobiles. It also makes users data susceptible to hacking. In 2015, a Jeep Cherokee was remotely hacked by renowned hackers Charlie Miller and Chris Valasek.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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PART 01: Executive
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
• Market outline
• Product lifecycle
• Regulatory framework
PART 05: Market landscape
• Market overview
• Market size and forecast
• Five forces analysis
PART 06: Market segmentation  by vehicle type
• Global commercial vehicle telematics market by vehicle type
• Commercial vehicle telematics market by LCV
• Global commercial vehicle telematics market in M&HCV

….Continued

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