Fleet Telematics Market Introduction

  • Telematics is system of monitoring the movement and location of vehicles by combining GPS i.e. Global Positioning System and on-board diagnostics systems, withwhich the speed of a vehicle and internal mechanism of the vehicle could be recorded.
  • Fleet telematics systems are mainly adopted by fleet management companies and automobile insurance companies in order to monitor the location and behavior of a vehicle. The global fleet telematics market refers to the solutions and services adopted for controlling and monitoring a commercial vehicle through a telecommunication device.
  • A FTS i.e. Fleet Telematics System allows information to be exchanged between a vehicle fleet and the central authority, enabling them to keep a track of vehicle diagnostics and location.
fleet telematics market 1

Planning to lay down future strategy? Perfect your plan with our report brochure here 

Key Drivers of Global Fleet Telematics Market

  • Changing regulations for vehicles across the world to install specific systems driving demand for fleet telematics. A major impetus for the fleet telematics market are the regulations mandating vehicles to install specific systems in vehicles. For instance, Contran 245 in Brazil has mandated all new vehicles to be fitted with tracking devices to help fight extensive car theft.
  • European countries are working on eCall system, which is expected to use telematics to send immediate help in case of accidents or any other emergency on the road. Hence, the fleet telematics market is projected to experience decent growth in the coming years due to stringent government regulations in all major developing and developed countries to install telematics.
  • The impact of adoption of wireless technology in fleet telematics is expected to be high in the near future owing to its benefits such as wide-area coverage, quick access & response, and cost reduction, which help the vendors to increase their efficiency, productivity, and return on investments.
  • Moreover, cost sensitivity among local players is likely to decline, as the average selling price of fleet telematics is expected to decline during the forecast period.

High Cost of Installation to Hamper the Growth of the Fleet Telematics Market

  • The main reason why OEMs are hesitating to change their assembly is because the installation cost and a change that has to be made in the vehicle design is fairly expensive. Also, governments releasing new sets of rules for the automobile sector every other day is proving to be a problem for automobile companies as they are unsure about what changes to include and what to ignore.
  • Other challenges facing the fleet telematics market are threat of data hacking and lack of uninterrupted & seamless connectivity.

Rise in Trend of Connectivity Solutions to Offer Attractive Opportunities

  • People wish to stay connected even while travelling, and smartphones are the most common medium to increase connectivity. Automobile manufacturers are adopting connectivity solutions in their vehicles to boost sales. Customers are expecting their vehicles to work similar to smartphones and computers.
  • Integrating connectivity solutions such as fleet telematics in vehicles has become a priority for automobile manufacturers. Connectivity can be provided through integrated, embedded, or tethered connectivity solutions.
  • Safety services are offered in vehicles with telematics solution, by combining telecom and automobile technology in order to reduce fuel consumption & maintenance cost and improve vehicle efficiency. Features such as automatic toll transactions, live traffic updates, insurance telematics, smart routing & tracking, and road-side assistance are expected to provide exponential growth opportunities to players in the fleet telematics market.

North America to Hold a Major Share of the Global Fleet Telematics Market

  • North America is a leading consumer of fleet telematics, followed by Asia Pacific and Europe. The U.S. is the key market in the North America region. In terms of demand, the U.S. accounts for more than 60% share of the market for fleet telematics in the region in 2019.
  • The fleet telematics market in Asia Pacific is estimated to expand at a rapid pace during the forecast period, followed by North America and Europe. This can be attributed to the rising foreign direct investments in the automotive industry in developing economies of Asia Pacific.

Fleet Telematics Market- Competitive Landscape

  • In 2014, the General Motors’ venture capital subsidiary i.e. GM Ventures made an equity investment in Telogis, to leverage GM’s OnStar connected vehicle infrastructure and Telogis’ telematics and fleet management solutions together.
  • In 2015, Daimler Trucks acquired a share of Zonar Systems Inc. in North America, a leading developer and supplier of telematicsand logistics connectivity solutions, later acquired by Continental. The investment led to the growth of fully connected vehicles and data services for truck drivers and operators.
  • Volvo invested in Lytx and in Peloton Technology, a fleet telematics startup developing V2X technology used in truck platooning.

Key Players Operating in Global Fleet Telematics Market:

The global fleet telematics market is fragmented market with many new players entering the market with advanced solutions. Few of the key players operating in the global fleet telematics market are:

  • Actsoft
  • Ctrack an Inseego company
  • Daimler Fleetboard GmbH
  • Deere & Company
  • Fleetmatics Group PLC
  • HARMAN International
  • KORE Wireless
  • Masternaut Limited
  • MiX Telematics
  • Sprint Corporation
  • TomTom International BV
  • Trimble Inc.
  • Verizon
fleet telematics market 2

Looking for exclusive market insights from business experts? Request a Custom Report here 

Fleet Telematics Market: Research Scope

Fleet Telematics Market, by Component

  • Solution
  • Services

Fleet Telematics Market, by Solution Type

  • OEM
  • Aftermarket

Fleet Telematics Market, by System

  • Hand-held
  • Wireless
  • Real-time

Fleet Telematics Market, by Type

  • Active
  • Passive

Fleet Telematics Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America
fleet telematics market 3

Alternate Keywords

  • Telematics,
  • Vehicle Location
  • On-board diagnostics systems
  • Vehicle diagnostics
  • Vehicle to Vehicle Communication

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Fleet Telematics Market

Pre Book