- The key vendors in the Commercial Vehicle Telematics Market in the Americas 2015-2019 are AirIQ Inc., Fleetmatics Group plc, Omnitracs LLC, OnStar LLC, TeleNav Inc., TomTom International BV and Trimble Navigation Ltd.
London, 07 January 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Commercial Vehicle Telematics Market in the Americas 2015-2019. Increased use of cloud-based telematics is one of the key trends in this market. There is a shift toward cloud-based telematics because of easy integration and efficient scalability of embedded telematics with cloud computing technology. Embedded cloud computing offering features such as large space for data storage, easy access, and security is evolving in commercial vehicle telematics. In terms of revenue, the market is expected to grow at a CAGR of 16.68 percent during the forecast period of 2014-2019.
Demand for commercial vehicles is driven by the rising demand for commercial vehicles with preinstalled telematics systems. The growing Global Truck market positively influences demand for commercial vehicle telematics systems, leading to the growth of the Commercial Vehicle Telematics segment.
“Telematics devices are being equipped with new features such as speech recognition, Bluetooth, and inbuilt cameras,” says Faisal Ghaus, Vice President of TechNavio Research.
“The convenience provided by these new features attracts new customers to telematics systems for navigation purposes along with other functionalities.”
To define the market conditions 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.
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