U.S. Commercial Telematics Market Zooms Towards $3.90 Billion by 2027, Reports Allied Market Research

OREGAON, PORTLAND, UNITED STATES , May 2, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the U.S. commercial telematics market generated $2.64 billion in 2019, and is estimated to garner $3.90 billion by 2027, witnessing a CAGR of 7.8% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, top segments, top investment pockets, regional scenario, and competitive landscape.

🔰 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A10360

Telematics/connected devices are a combination of devices, which are installed in a vehicle and used to provide real-time information about the vehicle. They are installed in a vehicle to keep a record of the information related to the driving behavior of the vehicle, status of the vehicle, distance covered by the vehicle, and other things. Telematics in a vehicle are connected at the on-board diagnostics port (OBD II Port) of the vehicle, which is located beneath the vehicle steering wheel, thus making the installation of the device in a vehicle an easier process. Once the component is installed in the vehicle, it starts to record the information on numerous aspects such as driving behavior, live status of the vehicle as well as the surrounding of the vehicle.

Numerous government regulations have been implicated across different states of the U.S., which has encouraged the fleet owners to install telematics/connected devices in their already running vehicles as well as their out of service vehicles. Installation of telematics helps to keep a track of the vehicle condition and provides real-time information about the vehicle. For instance, the government of California has allocated single-source Blanket Purchase Agreement (BPA) to Geotab, a global leader in IoT and connected transportation, to provide commercial fleet with a fully-integrated, best-in-class telematics solution.

𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐨𝐟𝐟𝐞𝐫𝐬 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐔.𝐒. 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐭𝐞𝐥𝐞𝐦𝐚𝐭𝐢𝐜𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐞𝐧𝐝-𝐮𝐬𝐞𝐫, 𝐚𝐧𝐝 𝐫𝐞𝐠𝐢𝐨𝐧.

☑️ Based on solutions type, the OEM segment held more than half of the total market share in 2019, and is expected to maintain its lead position throughout the forecast period. Moreover, this segment is estimated to witness at the highest CAGR of 8.7% from 2020 to 2027. The research also analyzes the aftermarket segment.

☑️ Based on application, the solution segment accounted for nearly four-fifths of the total share of the U.S. commercial telematics market in 2019, and is projected to maintain its dominant position during the study period. However, the services segment is expected to manifest the fastest CAGR of 9.0% from 2020 to 2027.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/us-commercial-telematics-market/purchase-options

☑️ Based on country, the market across California contributed to the highest market share in 2019, accounting for nearly one-fifth of the total market, and will maintain its dominance throughout the forecast period. On the other hand, Indiana is expected to grow at the fastest CAGR of 14.2% from 2020 to 2027.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :-

Cartrack,

Continental AG,

Daimler Fleetboard GmbH,

Fleet Complete,

Geotab Inc.,

MiX Telematics,

Navistar Inc.,

Omnitracs,

TomTom International BV.,

Trimble Inc.

🔰 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A10360

𝐅𝐚𝐜𝐭𝐨𝐫𝐬, such as government regulations for vehicle telematics and rise in trend of connectivity solutions, drive the growth of the U.S. commercial telematics market. In addition, vehicle diagnostic due to telematics systems also propels the growth of the market. However, threat of data hacking, high installation cost, and lack of uninterrupted & seamless 𝐢𝐧𝐭𝐞𝐫𝐧𝐞𝐭 𝐜𝐨𝐧𝐧𝐞𝐜𝐭𝐢𝐯𝐢𝐭𝐲 𝐡𝐢𝐧𝐝𝐞𝐫 𝐭𝐡𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭. Furthermore, intelligent transportation system and improved performance of autonomous vehicles impose a remarkable growth opportunity for the U.S. commercial telematics market.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐓𝐞𝐥𝐞𝐦𝐚𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/commercial-telematics-market - Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/consumer-telematics-market - Global Opportunity Analysis and Industry Forecast, 2013 – 2030.

https://www.alliedmarketresearch.com/china-india-and-southeast-asia-automotive-oem-telematics-market - Opportunity Analysis and Industry Forecast, 2017-2030.

https://www.alliedmarketresearch.com/automotive-telematics-market - Global Opportunity Analysis and Industry Forecast, 2019–2030.

https://www.alliedmarketresearch.com/motor-racing-telematics-market-A07809 - Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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