According “Global Commercial Telematics Market” report by Allied Market Research global commercial telematics market is expected to reach $ 49 120 mln by 2020 with the estimated annual average growth rate at 18,4%.
The major automotive manufacturers are now focused on the development and implementation of telematics solutions into their vehicles.
Aftermarket fleet and asset management will become the most profitable among telematics solutions segments in terms of ROI. Countries like China, Brazil and the USA legislate telematic solutions implementation.
As a whole telematic industry made its way from traditional navigational services to the extended vehicle tracking and fleet management based on traffic, locations and even weather conditions.
Today the scope of telematic services is wide like never before: healthcare, insurance, logistics, media and entertainment. Following the previous years the relative share of transport and logistics segment remains the largest compared to overall market size and the most prospective for the receipt of income from end-customer segment, considering the necessity for vehicle diagnostics and tracing, and the emerging interest in the areas of healthcare and insurance.
Here are some major findings by Allied Market Research:
- Global commercial telematics market growth will also be driven by such sectors as logistics and transportation, insurance, healthcare, media and entertainment throughout the forecasting period (2014-2020).
- The necessity for vehicle tracking, safety and security, and legislative actions will contribute to faster development of the telematics market (2014-2020).
- Fleet/Asset management solution is one of the most popular services in the area of telematics.
- By projections, Asia-Pacific and LAMEA regions will remain the most prominent owing to automobile market growth and favourable legislation.