Global Commercial Telematics Market Driven by High Demand in North America

Published By : 09 Mar 2016 | Published By : QYRESEARCH

The global commercial telematics market is worth billions of dollars and is projected to expand significantly in the coming few years. The global commercial telematics market is driven by several factors. Let us look at the key factors that will shape the global commercial telematics market in the coming few years.

Elevated Demand in North America
The global commercial telematics market is driven by the application of this technology in a wide range of industries. Some of the key industries, the global commercial telematics market finds its application in are remote alarm and monitoring, telehealth solutions, infotainment, insurance telematics, fleet/asset management, and satellite navigation. On the basis of region, the global commercial telematics market is divided into Asia Pacific, Europe, North America, and Rest of the World (RoW). In 2013, North America dominated the global commercial telematics market due to high demand for this technology in its end-use industries such as government and utilities and transportation and logistics.

Moreover, the high internet penetration in the North American region is also driving the demand for commercial telematics. On the other hand, Europe is projected to witness the fastest growth in the global commercial telematics market in the coming few years.

Technological Innovation
The rise of several innovative technologies will also fuel the overall commercial telematics market. For example, the integration of web and mobility has led to a new type of telematics called integrated telematics. In addition to this, the rising introduction of cloud-based telematics services will also boost the global commercial telematics market. Trends such as video recording, yard navigation, geo-advertising in automotive telematics will also drive the global commercial telematics market.

Other Key Trends
Many other trends and market opportunities will contribute to the growth of the global commercial telematics market. For example, the government regulations in many developed economies mandating the use of telematics technology will also benefit the market. Another trend that will drive the global commercial telematics market is the growing number of partnership deals between telematics solution providers and automobile manufacturers.

Nevertheless, the global commercial telematics market has a few key challenges that it needs to overcome. Two key challenges for the global commercial telematics market are privacy concerns and high initial costs.

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