Commercial Vehicle Telematics to See Impressive Growth during 2017-2022, Forecasts M&M in Its New Report Recently Added at MarketPublishers.com
28 Jul 2017 • by Natalie Aster
LONDON – The world’s commercial vehicle telematics market is projected to witness robust increase at an impressive 20.3% CAGR between 2017 and 2022. The value of this market will likely surpass the USD 18.4 mark by 2022. The key driver for the upsurge in the commercial vehicle telematics market is the increasing government mandate for the vehicle tracking deployment in commercial vehicles. Meanwhile, the major challenging factor is certain security and privacy concerns.
Fleet tracking and monitoring solutions are forecast to capture the major share of the overall market over 2017-2022. This is attributed primarily to the enhancing adoption by the fleet managers in order to optimize operations of their fleets. These solutions also help to save time and increase security and safety of a commercial fleet.
The APAC commercial vehicle telematics market is set to grow at the most robust pace through 2020, majorly owing to huge untapped opportunities in the regional market, rapidly increasing penetration of advanced technologies, ongoing economic development, expanding usage of commercial vehicles and favourable government support.
The new research study “Commercial Vehicle Telematics Market by Solution, Service, Provider Type, Vertical, and Region - Global Forecast to 2022” prepared by MarketsandMarkets (M&M) presents an unbiased 36-degree view of the market scenario and dynamics at different geographical scales. This publication covers the historical background, current landscape, regulative framework, competitive environment and major market segments. Moreover, this research study uncovers vital info on the major market growth limiters, drivers, threats and opportunities; profiles the most prominent companies active in the commercial vehicle telematics market, discusses the prevailing development trends and outlines future growth prospects. In addition, the report offers an all-round future outlook for the commercial vehicle telematics market up till 2022.
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