LONDON--(BUSINESS WIRE)--The fleet telematics systems market is expected to grow by USD 38.8 billion, progressing at a CAGR of almost 23% during the forecast period.
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The benefits in terms of cost savings is one of the major factors propelling market growth. However, factors such as high costs associated with fleet telematics systems will hamper the market growth.
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Fleet Telematics Systems Market: Type Landscape
Aftermarket fleet telematics systems are those that are offered by third-party vendors and are retrofitted into the existing fleet via an onboard diagnostics (OBD) port. The demand for aftermarket fleet telematics systems from fleet operators is a major factor driving market growth. Fleet telematics systems market share growth by the aftermarket fleet telematics systems segment will be slower than the growth of the market by the OEM fleet telematics systems segment.
Fleet Telematics Systems Market: Geographic Landscape
North America was the largest market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising demand for advanced telematics in commercial vehicles in the US, the increased number of offerings from automotive OEMs, and the availability of strong aftermarket solutions will significantly drive the fleet telematics systems market growth in this region over the forecast period. Additionally, the region is a frontrunner in the adoption of fifth-generation (5G) technology, which will strengthen the adoption of connectivity technologies in modern fleets. It also has a strong presence of road freight transportation, which contributes to its dominant position in the global fleet telematics systems market. Over 32% of the market’s growth will originate from North America during the forecast period. The US is the critical market for fleet telematics systems in North America. Market growth in this region will be slower than the growth of the market in APAC, South America, and MEA.
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Companies Covered:
- AT&T Inc.
- Bridgestone Corp.
- Continental AG
- Geotab Inc.
- Michelin Group
- Microlise Group Ltd.
- Omnitracs LLC
- Samsung Electronics Co. Ltd.
- Trimble Inc.
- Verizon Communications Inc.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type placement
- Aftermarket fleet telematics systems - Market size and forecast 2019-2024
- OEM fleet telematics systems - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AT&T Inc.
- Bridgestone Corp.
- Continental AG
- Geotab Inc.
- Michelin Group
- Microlise Group Ltd.
- Omnitracs LLC
- Samsung Electronics Co. Ltd.
- Trimble Inc.
- Verizon Communications Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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