Amid the COVID-19 crisis and the looming economic recession, the Commercial Vehicle Telematics market worldwide will grow by a projected US$27 Billion, during the analysis period
NEW YORK, June 3, 2020 /PRNewswire/ -- Amid the COVID-19 crisis and the looming economic recession, the Commercial Vehicle Telematics market worldwide will grow by a projected US$27 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 20.1%. Service, one of the segments analyzed and sized in this study, is forecast to grow at over 18.7% and reach a market size of US$19.4 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Service market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
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As part of the new emerging geographic scenario, the United States is forecast to readjust to a 22.1% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$960.9 Million to the region's size over the next 7 to 8 years. In addition, over US$1.2 Billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Service segment will reach a market size of US$1 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Commercial Vehicle Telematics market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 20.2% over the next couple of years and add approximately US$3.3 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Commercial Vehicle Telematics market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Agero Inc.; Airbiquity, Inc.; AirIQ Inc.; BOX Telematics Ltd.; BSM Technologies Inc.; CalAmp; Ctrack; Davis Instruments; Fleetmatics Group PLC; Geotab Inc.; Intelligent Telematics; Omnitracs LLC ; OnStar LLC; Orbcomm Inc.; Qualcomm Inc.; Telit Wireless Solutions; Transport Management Solutions Ltd.; Trimble Transport & Logis
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COMMERCIAL VEHICLE TELEMATICS MCP-1
MARKET ANALYSIS, TRENDS, AND FORECASTS, JUNE 2
CONTENTS
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Telematics Shapes the Future of Automobiles in the 21st Century by Ushering in a New Era of Intelligence Recent Market Activity Commercial Vehicle Telematics: Market Overview Market Outlook Global Competitor Market Shares Commercial Vehicle Telematics Competitor Market Share Scenario Worldwide (in %): 2018 & 2029 Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
Airbiquity, Inc. (USA) AirIQ, Inc. (Canada) Agero, Inc. (USA) BOX Telematics Ltd. (UK) BSM Technologies, Inc. (Canada) CalAmp (USA) Ctrack (UK) Davis Instruments (USA) Fleetmatics Group PLC (Ireland) Geotab, Inc. (Canada) Intelligent Telematics (Ireland) Omnitracs, LLC (USA) OnStar Corporation (USA) Orbcomm, Inc. (USA) QUALCOMM, Inc. (USA) Telit Wireless Solutions (UK) Transport Management Solutions Ltd. (UK) Trimble Transport & Logistics (Belgium) Zonar Systems (USA)
3. MARKET TRENDS & DRIVERS
A Peek Into Key Trends Providing the Stepping Stone for Growth of Telematics in the CV Market Growing Production of CVs Automobile Electronification Growing ITS Investments The Rise of Connected Vehicles Mandatory Telematics Regulations in the CV Industry Developments in Connectivity Technologies like Cellular Networks, Wi-Fi, Bluetooth & Satellite Commutations Cost Pressures in the Logistics Industry Spurs Market Opportunities for CV Telematics in Fleet Management Innovation in Telematics Services to Boost Revenue Potential of the Market One-stop Telematics Solutions of the Future Unique Platforms for Different Fleet Sizes A Glance at Other Major Technology Trends Growing Investments in Public Transportation to Benefit Growth of CV Telematics Aftermarket Telematics Emerges Over the Horizon to Compete With OEM Embedded Telematics Big Data on Wheels: Automotive Telematics to Derive New Value From Emerging Big Data Technologies Telematics: The New Fuel Source for Big Data Need to Reduce Vehicle Insurance Costs & Risks Drives Interest in Telematics Usage-Based Insurance UBI Pricing Scheme Advantages & Challenges Effect of Telematics on the Insurance Industry Developments in Mobile Telemedicine, Emergency Care & First Responder Networks Drive Demand for Telematics Spurt in Infrastructure Development in Emerging Markets Drives Demand for Off-Highway Vehicle Telematics Strong Growth in Car Sharing, Car Rental & Carpooling Services Expands the Business Case for Transport Telematics Developing Regions to Drive Future Market Growth Challenges to Growth: A Review Concerns Over Driver Distraction Hacking Emerges Into a Potent Threat to Privacy & Data Security
4. GLOBAL MARKET PERSPECTIVE
Table 1: Commercial Vehicle Telematics Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027 Table 2: Commercial Vehicle Telematics Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019 Table 3: Commercial Vehicle Telematics Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027 Table 4: Service (Type) World Market by Region/Country in US$ Million: 2020 to 2027 Table 5: Service (Type) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019 Table 6: Service (Type) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027 Table 7: Solution (Type) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027 Table 8: Solution (Type) Historic Market Perspective by Region/Country in US$ Million: 2012 to 2019 Table 9: Solution (Type) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027 Table 10: OEM (Provider Type) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027 Table 11: OEM (Provider Type) Region Wise Breakdown of Global Historic Demand in US$ Million: 2012 to 2019 Table 12: OEM (Provider Type) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027 Table 13: Aftermarket (Provider Type) World Market Estimates and Forecasts by Region/Country in US$ Million: 2020 to 2027 Table 14: Aftermarket (Provider Type) Market Historic Review by Region/Country in US$ Million: 2012 to 2019 Table 15: Aftermarket (Provider Type) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027 Table 16: Transport & Logistics (End-Use) Worldwide Latent Demand Forecasts in US$ Million by Region/Country: 2020-2027 Table 17: Transport & Logistics (End-Use) Global Historic Analysis in US$ Million by Region/Country: 2012-2019 Table 18: Transport & Logistics (End-Use) Distribution of Global Sales by Region/Country: 2012 VS 2020 VS 2027 Table 19: Insurance (End-Use) Sales Estimates and Forecasts in US$ Million by Region/Country for the Years 2020 through 2027 Table 20: Insurance (End-Use) Analysis of Historic Sales in US$ Million by Region/Country for the Years 2012 to 2019 Table 21: Insurance (End-Use) Global Market Share Distribution by Region/Country for 2012, 2020, and 2027 Table 22: Other End-Uses (End-Use) Global Opportunity Assessment in US$ Million by Region/Country: 2020-2027 Table 23: Other End-Uses (End-Use) Historic Sales Analysis in US$ Million by Region/Country: 2012-2019 Table 24: Other End-Uses (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2012 VS 2020 VS 2027
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS UNITED STATES Market Facts & Figures US Commercial Vehicle Telematics Market Share (in %) by Company: 2018 & 2025 Market Analytics Table 25: United States Commercial Vehicle Telematics Market Estimates and Projections in US$ Million by Type: 2020 to 2027 Table 26: Commercial Vehicle Telematics Market in the United States by Type: A Historic Review in US$ Million for 2012-2019 Table 27: United States Commercial Vehicle Telematics Market Share Breakdown by Type: 2012 VS 2020 VS 2027 Table 28: United States Commercial Vehicle Telematics Market Estimates and Projections in US$ Million by Provider Type: 2
to 2027 Table 29: Commercial Vehicle Telematics Market in the United States by Provider Type: A Historic Review in US$ Million for 2012-2019 Table 30: United States Commercial Vehicle Telematics Market Share Breakdown by Provider Type: 2012 VS 2020 VS 2027 Table 31: United States Commercial Vehicle Telematics Latent Demand Forecasts in US$ Million by End-Use: 2020 to 2027 Table 32: Commercial Vehicle Telematics Historic Demand Patterns in the United States by End-Use in US$ Million for 2012-2019 Table 33: Commercial Vehicle Telematics Market Share Breakdown in the United States by End-Use: 2012 VS 2020 VS 2027 CANADA Table 34: Canadian Commercial Vehicle Telematics Market Estimates and Forecasts in US$ Million by Type: 2020 to 2027 Table 35: Canadian Commercial Vehicle Telematics Historic Market Review by Type in US$ Million: 2012-2019 Table 36: Commercial Vehicle Telematics Market in Canada: Percentage Share Breakdown of Sales by Type for 2012, 2020, and 2027 Table 37: Canadian Commercial Vehicle Telematics Market Estimates and Forecasts in US$ Million by Provider Type: 2
to 2027 Table 38: Canadian Commercial Vehicle Telematics Historic Market Review by Provider Type in US$ Million: 2012-2019 Table 39: Commercial Vehicle Telematics Market in Canada: Percentage Share Breakdown of Sales by Provider Type for 2012, 2020, and 2027 Table 40: Canadian Commercial Vehicle Telematics Market Quantitative Demand Analysis in US$ Million by End-Use: 2020 to 2027 Table 41: Commercial Vehicle Telematics Market in Canada: Summarization of Historic Demand Patterns in US$ Million by End-Use for 2012-2019 Table 42: Canadian Commercial Vehicle Telematics Market Share Analysis by End-Use: 2012 VS 2020 VS 2027 JAPAN Table 43: Japanese Market for Commercial Vehicle Telematics: Annual Sales Estimates and Projections in US$ Million by Type for the Period 2020-2027 Table 44: Commercial Vehicle Telematics Market in Japan: Historic Sales Analysis in US$ Million by Type for the Period 2012-2019 Table 45: Japanese Commercial Vehicle Telematics Market Share Analysis by Type: 2012 VS 2020 VS 2027 Table 46: Japanese Market for Commercial Vehicle Telematics: Annual Sales Estimates and Projections in US$ Million by Provider Type for the Period 2020-2027 Table 47: Commercial Vehicle Telematics Market in Japan: Historic Sales Analysis in US$ Million by Provider Type for the Period 2012-2019 Table 48: Japanese Commercial Vehicle Telematics Market Share Analysis by Provider Type: 2012 VS 2020 VS 2027 Table 49: Japanese Demand Estimates and Forecasts for Commercial Vehicle Telematics in US$ Million by End-Use: 2
to 2027 Table 50: Japanese Commercial Vehicle Telematics Market in US$ Million by End-Use: 2012-2019 Table 51: Commercial Vehicle Telematics Market Share Shift in Japan by End-Use: 2012 VS 2020 VS 2027 CHINA Table 52: Chinese Commercial Vehicle Telematics Market Growth Prospects in US$ Million by Type for the Period 2020-2027 Table 53: Commercial Vehicle Telematics Historic Market Analysis in China in US$ Million by Type: 2012-2019 Table 54: Chinese Commercial Vehicle Telematics Market by Type: Percentage Breakdown of Sales for 2012, 2020, and 2027 Table 55: Chinese Commercial Vehicle Telematics Market Growth Prospects in US$ Million by Provider Type for the Period 2020-2027 Table 56: Commercial Vehicle Telematics Historic Market Analysis in China in US$ Million by Provider Type: 2012-2019 Table 57: Chinese Commercial Vehicle Telematics Market by Provider Type: Percentage Breakdown of Sales for 2012, 2020, and 2027 Table 58: Chinese Demand for Commercial Vehicle Telematics in US$ Million by End-Use: 2020 to 2027 Table 59: Commercial Vehicle Telematics Market Review in China in US$ Million by End-Use: 2012-2019 Table 60: Chinese Commercial Vehicle Telematics Market Share Breakdown by End-Use: 2012 VS 2020 VS 2027 EUROPE Market Facts & Figures European Commercial Vehicle Telematics Market: Competitor Market Share Scenario (in %) for 2018 & 2025 Market Analytics Table 61: European Commercial Vehicle Telematics Market Demand Scenario in US$ Million by Region/Country: 2020-2027 Table 62: Commercial Vehicle Telematics Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2012-2019 Table 63: European Commercial Vehicle Telematics Market Share Shift by Region/Country: 2012 VS 2020 VS 2027 Table 64: European Commercial Vehicle Telematics Market Estimates and Forecasts in US$ Million by Type: 2020-2027 Table 65: Commercial Vehicle Telematics Market in Europe in US$ Million by Type: A Historic Review for the Period 2012-2019 Table 66: European Commercial Vehicle Telematics Market Share Breakdown by Type: 2012 VS 2020 VS 2027 Table 67: European Commercial Vehicle Telematics Market Estimates and Forecasts in US$ Million by Provider Type: 2020-2027 Table 68: Commercial Vehicle Telematics Market in Europe in US$ Million by Provider Type: A Historic Review for the Period 2012-2019 Table 69: European Commercial Vehicle Telematics Market Share Breakdown by Provider Type: 2012 VS 2020 VS 2027 Table 70: European Commercial Vehicle Telematics Addressable Market Opportunity in US$ Million by End-Use: 2020-2027 Table 71: Commercial Vehicle Telematics Market in Europe: Summarization of Historic Demand in US$ Million by End-Use for the Period 2012-2019 Table 72: European Commercial Vehicle Telematics Market Share Analysis by End-Use: 2012 VS 2020 VS 2027 FRANCE Table 73: Commercial Vehicle Telematics Market in France by Type: Estimates and Projections in US$ Million for the Period 2020-2027 Table 74: French Commercial Vehicle Telematics Historic Market Scenario in US$ Million by Type: 2012-2019 Table 75: French Commercial Vehicle Telematics Market Share Analysis by Type: 2012 VS 2020 VS 2027 Table 76: Commercial Vehicle Telematics Market in France by Provider Type: Estimates and Projections in US$ Million for the Period 2020-2027 Table 77: French Commercial Vehicle Telematics Historic Market Scenario in US$ Million by Provider Type: 2012-2019 Table 78: French Commercial Vehicle Telematics Market Share Analysis by Provider Type: 2012 VS 2020 VS 2027 Table 79: Commercial Vehicle Telematics Quantitative Demand Analysis in France in US$ Million by End-Use: 2020-2027 Table 80: French Commercial Vehicle Telematics Historic Market Review in US$ Million by End-Use: 2012-2019 Table 81: French Commercial Vehicle Telematics Market Share Analysis: A 17-Year Perspective by End-Use for 2012, 2020, and 2027 GERMANY Table 82: Commercial Vehicle Telematics Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Type for the Period 2020-2027 Table 83: German Commercial Vehicle Telematics Historic Market Analysis in US$ Million by Type: 2012-2019 Table 84: German Commercial Vehicle Telematics Market Share Breakdown by Type: 2012 VS 2020 VS 2027 Table 85: Commercial Vehicle Telematics Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Provider Type for the Period 2020-2027 Table 86: German Commercial Vehicle Telematics Historic Market Analysis in US$ Million by Provider Type: 2012-2019 Table 87: German Commercial Vehicle Telematics Market Share Breakdown by Provider Type: 2012 VS 2020 VS 2027 Table 88: Commercial Vehicle Telematics Market in Germany: Annual Sales Estimates and Forecasts in US$ Million by End-Use for the Period 2020-2027 Table 89: German Commercial Vehicle Telematics Market in Retrospect in US$ Million by End-Use: 2012-2019 Table 90: Commercial Vehicle Telematics Market Share Distribution in Germany by End-Use: 2012 VS 2020 VS 2027 ITALY Table 91: Italian Commercial Vehicle Telematics Market Growth Prospects in US$ Million by Type for the Period 2020-2027 Table 92: Commercial Vehicle Telematics Historic Market Analysis in Italy in US$ Million by Type: 2012-2019 Table 93: Italian Commercial Vehicle Telematics Market by Type: Percentage Breakdown of Sales for 2012, 2020, and 2027 Table 94: Italian Commercial Vehicle Telematics Market Growth Prospects in US$ Million by Provider Type for the Period 2020-2027 Table 95: Commercial Vehicle Telematics Historic Market Analysis in Italy in US$ Million by Provider Type: 2012-2019 Table 96: Italian Commercial Vehicle Telematics Market by Provider Type: Percentage Breakdown of Sales for 2012, 2020, and 2027 Table 97: Italian Demand for Commercial Vehicle Telematics in US$ Million by End-Use: 2020 to 2027 Table 98: Commercial Vehicle Telematics Market Review in Italy in US$ Million by End-Use: 2012-2019 Table 99: Italian Commercial Vehicle Telematics Market Share Breakdown by End-Use: 2012 VS 2020 VS 2027 UNITED KINGDOM Table 100: United Kingdom Market for Commercial Vehicle Telematics: Annual Sales Estimates and Projections in US$ Million by Type for the Period 2020-2027 Table 101: Commercial Vehicle Telematics Market in the United Kingdom: Historic Sales Analysis in US$ Million by Type for the Period 2012-2019 Table 102: United Kingdom Commercial Vehicle Telematics Market Share Analysis by Type: 2012 VS 2020 VS 2027 Table 103: United Kingdom Market for Commercial Vehicle Telematics: Annual Sales Estimates and Projections in US$ Million by Provider Type for the Period 2020-2027 Table 104: Commercial Vehicle Telematics Market in the United Kingdom: Historic Sales Analysis in US$ Million by Provider Type for the Period 2012-2019 Table 105: United Kingdom Commercial Vehicle Telematics Market Share Analysis by Provider Type: 2012 VS 2020 VS 2027 Table 106: United Kingdom Demand Estimates and Forecasts for Commercial Vehicle Telematics in US$ Million by End-Use: 2
to 2027 Table 107: United Kingdom Commercial Vehicle Telematics Market in US$ Million by End-Use: 2012-2019 Table 108: Commercial Vehicle Telematics Market Share Shift in the United Kingdom by End-Use: 2012 VS 2020 VS 2027 REST OF EUROPE Table 109: Rest of Europe Commercial Vehicle Telematics Market Estimates and Forecasts in US$ Million by Type: 2020-2027 Table 110: Commercial Vehicle Telematics Market in Rest of Europe in US$ Million by Type: A Historic Review for the Period 2012-2019 Table 111: Rest of Europe Commercial Vehicle Telematics Market Share Breakdown by Type: 2012 VS 2020 VS 2027 Table 112: Rest of Europe Commercial Vehicle Telematics Market Estimates and Forecasts in US$ Million by Provider Type: 2020-2027 Table 113: Commercial Vehicle Telematics Market in Rest of Europe in US$ Million by Provider Type: A Historic Review for the Period 2012-2019 Table 114: Rest of Europe Commercial Vehicle Telematics Market Share Breakdown by Provider Type: 2012 VS 2020 VS 2027 Table 115: Rest of Europe Commercial Vehicle Telematics Addressable Market Opportunity in US$ Million by End-Use: 2020-2027 Table 116: Commercial Vehicle Telematics Market in Rest of Europe: Summarization of Historic Demand in US$ Million by End-Use for the Period 2012-2019 Table 117: Rest of Europe Commercial Vehicle Telematics Market Share Analysis by End-Use: 2012 VS 2020 VS 2027 ASIA-PACIFIC Table 118: Commercial Vehicle Telematics Market in Asia-Pacific by Type: Estimates and Projections in US$ Million for the Period 2020-2027 Table 119: Asia-Pacific Commercial Vehicle Telematics Historic Market Scenario in US$ Million by Type: 2012-2019 Table 120: Asia-Pacific Commercial Vehicle Telematics Market Share Analysis by Type: 2012 VS 2020 VS 2027 Table 121: Commercial Vehicle Telematics Market in Asia-Pacific by Provider Type: Estimates and Projections in US$ Million for the Period 2020-2027 Table 122: Asia-Pacific Commercial Vehicle Telematics Historic Market Scenario in US$ Million by Provider Type: 2012-2019 Table 123: Asia-Pacific Commercial Vehicle Telematics Market Share Analysis by Provider Type: 2012 VS 2020 VS 2027 Table 124: Commercial Vehicle Telematics Quantitative Demand Analysis in Asia-Pacific in US$ Million by End-Use: 2020-2027 Table 125: Asia-Pacific Commercial Vehicle Telematics Historic Market Review in US$ Million by End-Use: 2012-2019 Table 126: Asia-Pacific Commercial Vehicle Telematics Market Share Analysis: A 17-Year Perspective by End-Use for 2012, 2020, and 2027 REST OF WORLD Table 127: Rest of World Commercial Vehicle Telematics Market Estimates and Forecasts in US$ Million by Type: 2020 to 2027 Table 128: Rest of World Commercial Vehicle Telematics Historic Market Review by Type in US$ Million: 2012-2019 Table 129: Commercial Vehicle Telematics Market in Rest of World: Percentage Share Breakdown of Sales by Type for 2012, 2020, and 2027 Table 130: Rest of World Commercial Vehicle Telematics Market Estimates and Forecasts in US$ Million by Provider Type: 2
to 2027 Table 131: Rest of World Commercial Vehicle Telematics Historic Market Review by Provider Type in US$ Million: 2012-2019 Table 132: Commercial Vehicle Telematics Market in Rest of World: Percentage Share Breakdown of Sales by Provider Type for 2012, 2020, and 2027 Table 133: Rest of World Commercial Vehicle Telematics Market Quantitative Demand Analysis in US$ Million by End-Use: 2020 to 2027 Table 134: Commercial Vehicle Telematics Market in Rest of World: Summarization of Historic Demand Patterns in US$ Million by End-Use for 2012-2019 Table 135: Rest of World Commercial Vehicle Telematics Market Share Analysis by End-Use: 2012 VS 2020 VS 2027
IV. COMPETITION
Total Companies Profiled: 75
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