Visiongain assesses that similarly to connected passenger cars, commercial vehicle connected fleets will experience substantial growth throughout the forecast period 2015 to 2025 driven by rising penetration of telematics in key geographical areas.
Growth in the commercial vehicle telematics market is driven by the following factors. At the microeconomic level, the constant need for asset tracking and fuel efficiency in conjunction with strong price-competition in logistics drive fleet operators to adopt telematics to sustain profitability and gain competitive advantage. Additionally, global regulatory safety mandates require the installation of basic telematics control units in all new commercial vehicles in key geographical areas.
Finally, the increased demand for wireless connectivity offers the opportunity to substitute functions of the onboard computer with smartphones and tablets. These drivers will enable aftermarket and OEM telematics service providers to expand their subscription base and offer new services leading to increased telematics revenues and enhancement of customer loyalty.
Visiongain expects the global commercial vehicle telematics market will reach a value of $13.21 billion in 2015.
An overview of the report can be found at Visiongain's website.