TELEMATICS MARKET - GROWTH, TRENDS, AND FORECAST (2020 - 2025)
TELEMATICS MARKET - GROWTH, TRENDS, AND FORECAST (2020 - 2025)
The global telematics market is expected to register a CAGR of 20.7%, over the forecast period (2020 - 2025). The focus shifted from vehicle location and routing to solutions focused on drivers and their respective safety. By monitoring the driving behavior, vehicle health and maintenance intervals, telematics solutions help minimize accidental incidents, the number of speeding tickets, and downtime.
- The mobile resource management (MRM - traditional telematics and GPS tracking) and machine-to-machine sectors will continue to drive the market and include better commercial fleet productivity (fuel cost reduction, routing, reduced maintenance, driver monitoring), improved customer service (real-time status, timely response times), and improved risk management, driver behavior and safety, and control and improvement.
- Organizations are increasingly turning to EVs. In June 2018, Geotab, a global leader in IoT and connected transportation, acquired clean-tech solution provider, FleetCarma. They are specializing in EV telematics, that provides technology for the adoption and operation of EVs. This is because organizations have turned to EVs while setting goals to reduce emissions and improve operational fleet efficiency.
- As a huge amount of data that is getting generated about the driver and the behavior involved there are huge risks related to cyber attacks that could occur.
By Application | |
Original Equipment Manufacturers (OEM) | |
Aftermarket |
By Solution | |
Smartphone | |
Portable | |
Embedded |
By Offering Type | |
Hardware | |
Services |
Geography | |
North America | |
Europe | |
Asia Pacific | |
South America | |
Middle East and Africa |
Read more : https://www.mordorintelligence.com/industry-reports/telematics-market