Affordable, Advanced Commercial Vehicle Telematics Drives Interest among Fleet Operators
-- Telematics vendors will embrace big data technologies, finds Frost & Sullivan
MOUNTAIN VIEW, California, April 28, 2015 /PRNewswire/ -- North America and Europe will continue to lead in terms of commercial vehicle (CV) telematics adoption, but will focus more on advanced solutions such as video surveillance. Positive telematics adoption trends will also be seen in India, China, and South Africa, where the CV market has been growing. Similarly, the Latin American and Turkish markets will benefit from their proximity to North America and Europe, respectively.
Photo - http://photos.prnewswire.com/prnh/20150427/211909
New analysis from Frost & Sullivan, Strategic Outlook of Global Commercial Vehicle Telematics Market in 2015 (http://www.frost.com/nef9), finds that the installed base of CV telematics stood at 14.7 million in 2014 and estimates this to reach 37.9 million by 2020. The study covers segments of light, medium and heavy CVs. Light CVs contributed to nearly 60 percent of the telematics installed base last year, even though medium and heavy CVs were the prime revenue-generating segments in countries like India and China.
For complimentary access to more information on this research, please visit: http://bit.ly/1ax7xiX
"Going forward, hardware prices are expected to dip, encouraging fleet operators to invest in advanced telematics services," said Frost & Sullivan Automotive & Transportation Research Analyst Gokulnath Raghavan. "In fact, by the end of 2015, the pricing of both hardware and solution offerings will be restructured due to the influx of new business cases, lending further pace to market development."
Much like 2014, embedded solutions will be widely preferred due to its ability to provide accurate data through a controller area network bus (CAN bus). In contrast to last year, the growth of independent smartphone solutions is likely to outpace that of portable solutions. 2015 will also see driver behavioral management using, in-cab training and simulators, emerge as sought-after services.
Overall, the CV telematics space will be dominated by the aftermarket segment, in which vehicle original equipment manufacturers are expected to contribute approximately 23 percent of total telematics penetration. As the European and North American markets become less fragmented due to continued consolidation among vendors, competition in the telematics aftermarket will decrease in these regions.
"To widen their reach, telematics vendors will embrace big data technologies in order to provide business intelligence and prognostics solutions," noted Raghavan. "Along with this, they should customize offerings to suit the needs of the specific industry, fleet, and region."
Strategic Outlook of Global Commercial Vehicle Telematics Market in 2015 is part of the Automotive & Transportation (http://www.automotive.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Financial Assessment of Global Automotive OEM Industry, Strategic Road Map for Multi-axle Vehicles in India, Strategic Analysis of the Global Hybrid and Electric Medium- and Heavy-duty Truck Market, and Strategic Analysis of Emission Control Programs in Key Markets Towards 2020. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Strategic Outlook of Global Commercial Vehicle Telematics Market in 2015
NEF9-18
Contact:
Clarissa Castaneda
Corporate Communications – North America
P: +1.210.477.8481
F: +1.210.348.1003
E: [email protected]
Share this article