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Commercial Telematics Market Size, Share, Segmentation, Analysis Report, Trends and Forecast By 2023

iCrowdNewswire   Jan 7, 2021  2:00 PM ET

Commercial Telematics Market-Overview

The rise in demand from the automotive and insurance industry likely to benefit the commercial telematics market 2020. The information & communication technology industry reports are shaped by Market Research Future, which pinpoints market options for expansion.  An 18% CAGR is estimated to lead to an income of USD 42 Billion by 2023.

The rise in demand for real time information to devices is expected to set a favorable tone for the commercial telematics market trends in the upcoming period. The fortification of the automotive sector is estimated to yield positive results for the commercial telematics market in the upcoming period.

Detailed Regional Analysis 

The regional scrutiny of the commercial telematics market includes regions such as Europe, North America, Asia Pacific, and the rest of the regions. The North American regional market is one of the critical regions in the world in terms of the market segment in the commercial telematics market as self-install on-board diagnostics devices are gaining the peak market in the North American region. The commercial telematics market in the European region is anticipated to observe express augmentation in the approaching period. The use of commercial telematics in the insurance industry is chiefly dominated by hardwired aftermarket black boxes, which have enormous demand in the commercial telematics market. While, the Asia-Pacific nations like Japan, China, and South Korea is an up-and-coming market for the commercial telematics market and is expected to be the highest CAGR in the coming year.

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Competitive Analysis

The revamping of distribution channels is also expected in the coming years with a particular focus on using robots for the logistic function on a larger scale than before. The fortification of the human resource is estimated to be the critical point being addressed in these times of uncertainty. The rebooting of manufacturing activities is another strategic aspect that is being emphasized to ensure that the supply of the end product can be reasonably ensured to the users in the market. The market is in a condition of flux due to the rapid and severe changes in the global economy. The market players are taking the steps that are necessary to ensure that the market survives the turbulent period and emerge recovered in the future. The support of the administration in countries around the world is estimated to have a significant impact on the development of the market in the upcoming period. 

The outstanding companies in the commercial telematics market are Harman International Industries, Inc.( U.S.), Bayerische Motoren Werke AG (Germany), TomTom Telematics B.V. (Netherlands), Verizon Communications, Inc.(U.S.),  AT&T Inc. (U.S.), Vodafone Group Plc (U.K), Telefónica S.A. (Spain), Ford Motor Company (U.S.), Trimble Inc. (U.S.), Telematics International Ltd (South Africa), and Mix among others.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Keywords:    Commercial Telematics Market, Commercial Telematics Market Size, Commercial Telematics Market Trends, Commercial Telematics Market Growth, Commercial Telematics Market Analysis, Commercial Telematics Market Forecast

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