London, 21 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Commercial Vehicle Telematics market 2014-2018, which is expected to grow at a CAGR of 16.57 percent during the forecast period of 2013-2018.
Telematics is a term used to describe the wireless connectivity between motor vehicles and the infrastructure where the receiving equipment is installed. It is an integrated technology wherein telecommunication and IT are combined to provide a single solution. Telematics uses telecom equipment to send, receive, and store information in a vehicle. It is used for vehicle tracking, satellite navigation, emergency warning systems, and fleet management systems. It providees improved security to drivers and passengers.
“Easy integration and efficient scalability of embedded telematics with cloud computing technology has encouraged shift toward cloud-based telematics,” says Faisal Ghaus, Vice President of TechNavio.
“Embedded cloud computing offering features such as a large space for data storage, easy access, and security is evolving in commercial vehicle telematics.”
Key Market Drivers
- Need for Efficient Data Management
- Demand from the BRIC Countries
- Globalization of Supply Chains
- Increase in Fleet Tracking and Trailer Tracking System Subscriptions
- Operational Efficiency
Key Market Trends
- Increase in Use of Cloud-based Telematics
- Features in Telematics Systems
- Emergence of Free Telematics Services
- Collaboration with Third-party Vendors for Products and Services
Key Market Vendors
- AirIQ Inc.
- Fleetmatics Group plc
- MiX Telematics Ltd.
- Omnitracs Inc.
- OnStar Corp.
- TomTom International BV
- Trimble Navigation Ltd.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
