NEW YORK, Dec. 28, 2015 /PRNewswire/ -- The research service analyzes and provides forecast for the commercial vehicle telematics market in LATAM—Brazil, Mexico, Argentina, Chile, Peru, and Colombia. The major focus is on the market trends in services, solutions, and technologies for specific segments such as light commercial vehicles, medium commercial vehicles, and heavy commercial vehicles. The study provides telematics penetration by fleet size and offers an opportunity analysis by segment, application, business model, and region. Strategic prediction related to future services, business models, third-party vendors, and OEMs is provided. The forecast period is from 2015 to 2021 with 2014 as the base year.
Rapidly evolving demand for new trucks will result in the introduction of additional sub-segments, thereby driving the need for fleet management solutions.
Total CV Telematics Market: Key Findings, LATAM, 2014–2021
-The size of the total commercial vehicle (CV) telematics market is approximately (2014), with almost % of the total units sold in 2014.
-Medium and heavy commercial vehicles (M/HCV) contribute nearly % toward the total CV telematics market and also have the highest segment-wise penetration rate of %.
-Sascar, Autotrac, and OnixSat hold a combined market share of more than % of the total CV telematics market in LATAM (2014).
-Location, monitoring, productivity, and driver behavior are the key features in demand, along with traditional features of safety and security.
-The total CV telematics market in LATAM is expected to experience a compound annual growth rate (CAGR) of % from 2014 to 2021.
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