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Commercial Vehicle Telematics Market in the Americas 2019-2023 | 17% CAGR Projection Through 2023 | Technavio

LONDON--(BUSINESS WIRE)--Feb 20, 2020--

The commercial vehicle telematics market in the Americas is expected to post a CAGR of more than 17% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200220005317/en/

Technavio has announced its latest market research report titled Commercial Vehicle Telematics Market in the Americas 2019-2023 (Graphic: Business Wire)

Usage-based insurance (UBI) benefits both insurers and fleet owners. It allows insurers to create precise risk profiles based on real-time driving behavior tracked by on-board units (OBU) in vehicles. For fleet operators, it helps in reducing insurance premiums by encouraging safe driving behavior. Such cost benefits are encouraging fleet operators to upgrade their vehicles with UBI technologies or buy vehicles that have this system. In addition, advances in functionalities in vehicle telematics systems have increased the adoption of embedded solutions in commercial vehicles. These factors are encouraging UBI suppliers to partner with other telematics function participants to increase the usage of the system for broader functions such as data sharing. This will have a positive impact on the growth of the market during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR30208

As per Technavio, the use of 5G technology in automotive telematics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Commercial Vehicle Telematics Market in the Americas: Use of 5G Technology in Automotive Telematics

Advances in semi-autonomous and fully autonomous technologies have created a strong demand for faster data capabilities in automotive telematics applications. This is encouraging vendors in the market to develop automotive telematics applications based on 5G technology. This will improve the operational efficiencies of advanced systems such as V2X communications, which include vehicle-to-vehicle, vehicle-to-infrastructure, and vehicle-to-pedestrian applications. Therefore, the adoption of 5G technology in commercial vehicle telematics will be a crucial trend in boosting the growth of the market during the forecast period.

“The adoption of video telematics to precisely track driver behavior and the use of advanced analytics to optimize fleet efficiency will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Commercial Vehicle Telematics Market in the Americas: Segmentation Analysis

This market report segments the commercial vehicle telematics market in the Americas by application (LCVs and M&HCVs), type (embedded telematics, portable telematics, and smartphone-based telematics), and geography (US, Canada, and Rest of Americas).

The US region led the market in 2018, followed by the Rest of the Americas and Canada respectively. During the forecast period, the US region is expected to maintain its dominance over the market. This is due to the increasing adoption of advanced fleet management solutions by fleet operators in the country.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200220005317/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:https://www.technavio.com/

KEYWORD: SOUTH AMERICA CENTRAL AMERICA NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS AFTERMARKET AUTOMOTIVE TELECOMMUNICATIONS OTHER AUTOMOTIVE NETWORKS INTERNET HARDWARE

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 02/20/2020 03:00 AM/DISC: 02/20/2020 03:01 AM

http://www.businesswire.com/news/home/20200220005317/en

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