Trailer Telematics: Introduction
- Telematics is a combination of telecommunications and informatics. Telematics helps to process and transport information over distance in real time. Trailer telematics enables the monitoring of brake wear, mileage, trailer’s electronic braking system (EBS), tire pressure, and axle load. Trailer telematics also enables the monitoring of temperature changes inside the trailer to maintain optimum temperature. Trailer telematics also enables built-in route guidance, alerts and alarms for better connection, advanced reporting tools enable logistics companies with varying fleet sizes to more efficiently manage their vehicles and the fleets, improve maintenance costs, and achieve operational efficiency all through the comfort of using their smartphones or computers.
Key Drivers of Global Trailer Telematics Market:
- The tracking system helps improve fleet management and enables remote diagnostics to provide immediate support for drives of fleets to reduce downtime. Data can be accessed by using mobile, computer, or iPad, and it reduces operational cost and damages. Therefore, telematics is gaining popularity in the trucking industry. Rise in demand for safe and crash-free transportation and need to optimize fleet management is likely to drive the trailer telematics market during the forecast period.
- In terms of component, the navigation unit segment of the trailer telematics market is estimated to expand considerably during the forecast period due to advantages such as GPS tracking, which provides the exact position of the trailer. GPS tracking ensures that the routes are optimized, which reduces downtime and delays and provides notification through text message and/or email.
- Safety and security services offered through trailer telematics include 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 boost the trailer telematics market during the forecast period.
Global Trailer Telematics Market to Offer Attractive Opportunities:
- Presently, telematics is gaining popularity in the truck industry. Rise in demand for safe and crash-free transport, optimal management of the fleet, and a surge in the adoption of commercial vehicle telematics technology offer significant opportunity for key players operating in the trailer telematics market. Consistent expansion of the commercial vehicle market is also further boosting the global market for trailer telematics.
COVID–19 Pandemic to Hamper Market
- The COVID-19 crisis is affecting economies and industries in various countries due to lockdowns, travel bans, and business lockdowns. The global materials industry is suffering serious disruptions such as supply chain breaks and office shutdowns. For instance, China is a global manufacturing hub and raw material supplier of various industries, and it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and disrupting manufacturing, delivery schedules, and various material sales. Various companies announced possible delays in product deliveries and slump in future sales of their products. All these factors are anticipated to hamper the global trailer telematics market across the globe.
North America to Hold Significant Share of Global Trailer Telematics Market:
- Increasing concerns among consumers over on-road safety have driven the demand for safe and crash-free transport, which in turn is compelling automakers to adopt advanced technologies for better management of fleet. The presence of a huge transportation and automotive industries and a large number of prominent automakers in the region have provided North America an edge over other regions. Early adoption of telematics technology in commercial vehicles is another important factor contributing to the dominant position held by North America in the global market. The trailer telematics market in North America is expected to maintain its position due to the consistent expansion of the commercial vehicle market in the region.
Key Players Operating in Global Market:
The global trailer telematics market is highly fragmented with top manufacturers across the global market. A few of the key players operating and potential in the global trailer telematics market are:
- PTC, Inc.
- TomTom Telematics BV
- WABCO Corporation
- NOVACOM SERVICES
- MiX Telematics
- BPW Bergische Achsen Limited
- Truck-Lite Co.
- CalAmp Corporation
- Astrata Group (Omnitracs)
- Intel Corporation
Global Trailer Telematics Market: Research Scope
Global Trailer Telematics Market, by Power Source
- Wired Devices
- Solar Battery Operated Devices
- Self-contained Battery Operated Devices
Global Trailer Telematics Market, by Vehicle Type
- Full Trailer
Global Trailer Telematics Market, by Component
- Telematics Control Unit
- Navigation Unit
- Communication Devices
Global Trailer Telematics Market, by Services Offered
- Safety and Security Services
- Entertainment Services
- Fleet Management Services
Global Trailer Telematics Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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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
- Latin America
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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?
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