Telematics is combination of telecommunication and informatics. Vehicle telematics provides location information, which is used for different business applications. Transportation companies use telematics to help them manage their fleet, increase driver safety, enhance customer satisfaction, and improve fleet maintenance. Trailer telematics offers several benefits such as it provides the trailer and driver related information which is used for optimizing logistical process. Tracking system help to improve fleet management, remote diagnostics allow fleet to provide immediate support for drives to reduce the downtime. The data can be access by using mobile, computer or iPad and it reduces the operational cost and damages. Therefore, telematics is gaining popularity in the trucking industry. Rise in demand for safe and crash free transportation and to optimize fleet management are likely to drive the trailer telematics market during forecast period. However, high cost of technology and rise in privacy issues are likely to inhibit the trailer telematics market during the forecast period.
The trailer telematics market can be segmented into power source, component, vehicle, services offered, and region. In terms of power source, the trailer telematics market can be segregated into wired devices, solar battery operated devices, and self-contained battery operated devices. The self-contained battery operated devices are gaining popularity due to it can be operate under harsh temperature condition, high capacity of batteries allow to transfer more data on frequent basis and high life span of device. The self-contain battery operated devices segment is anticipated to drive the trailer telematics market during forecast period.
Based on components, the trailer telematics market is segmented into telematics control unit, navigation unit, communication devices, and others. The navigation unit is likely to account for a large share of the trailer telematics market during forecast period due to advantages such as GPS tracking which provides the exact position of the trailer, GPS remotely tracked to ensure that the routes are optimized, reduces downtime and delays, and provides notification through text message and/or email.
Based on vehicle, the trailer telematics market can be segmented into full trailer, semi-trailer, and other. The semi-trailer segment is likely to drive the trailer telematics market during forecast period as semi-trailer trucks are used to transport goods.
Based on services offered, the trailer telematics market can be divided into safety and security services, entertainment services, fleet management services, and others. Safety and security services offers advantages such as vehicle & trip monitoring, identification and protection of drives, vehicle access control, and driver behavior monitoring; therefore, these services are gaining importance among fleet operators. These factors are likely to propel the safety and security services segment, thus boosting the trailer telematics market during the forecast period.
In terms of region, the trailer telematics market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global trailer telematics market and is likely to continue this trend during the forecast period. Early adoption of telematics technology for commercial vehicles, high adoption rate of advance technology, expansion of the commercial vehicle market, and government mandates regarding different application regarding commercial vehicle telematics are likely to drive the trailer telematics market during forecast period.
Some of the key players operating in the market include PTC, Inc., TomTom Telematics BV, WABCO, NOVACOM SERVICES, MiX Telematics, Verizon, and BPW Bergische Achsen Limited.
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