OYSTER BAY, N.Y., Dec. 21, 2017 /PRNewswire/ -- The explosive growth stimulated by the Electronic Logging Devices (ELD) Mandate in the U.S., emerging market opportunities, and last mile delivery is providing tremendous upside for numerous telematics service providers. ABI Research, a market-foresight advisory firm providing guidance on the most compelling transformative technologies, forecasts that opportunities for further telematics penetration exist, especially for segments such as services, government and public transport, with CAGR's all between 16-19%.
"According to the Federal Motor Carrier Safety Administration (FMCSA), in 2017, 67% of U.S.-based fleets have 20 or fewer units. Many of these fleets were without telematics units, providing a significant upside this year for ELD's," says Susan Beardslee, Senior Analyst at ABI Research. "Substantial growth in e-commerce is putting further emphasis on last mile delivery and the need to manage capacity for fleets, both in North America and across multiple geographies."
ABI Research anticipates global commercial telematics system subscriptions to rise across trucking segments from 33 million this year to over 67 million by 2022. The industry continues to develop innovative solutions, targeted to specific geographies and/or verticals as well as evolve existing technologies to support Advanced Driver-Assistance Systems (ADAS) and regulatory requirements. Companies such as Verizon, Omnitracs, G7, Trimble, TomTom Telematics, Gurtam, Geotab and MiX Telematics are addressing many of these segments.
"Commercial telematics providers will continue to expand their market presence through the introduction of connected, secure and scalable innovations including gateways, prognostics, open APIs/SDK's, and ecosystem marketplaces. More nascent technologies such as blockchain, autonomy and electrification will impact the industry in the coming years," concludes Beardslee.
These findings are from ABI Research's Commercial Telematics Market Data report. This report is part of the company's Intelligent Transportation and eFreight research service, which includes research, data, and analyst insights.
About ABI Research
ABI Research provides strategic guidance for visionaries needing market foresight on the most compelling transformative technologies, which reshape workforces, identify holes in a market, create new business models and drive new revenue streams. ABI's own research visionaries take stances early on those technologies, publishing groundbreaking studies often years ahead of other technology advisory firms. ABI analysts deliver their conclusions and recommendations in easily and quickly absorbed formats to ensure proper context. Our analysts strategically guide visionaries to take action now and inspire their business to realize a bigger picture. For more information about ABI Research's forecasting, consulting and teardown services, visionaries can contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
SOURCE ABI Research