Research report published by Markets N Research “Truck Telematics Market, By Solution (Fleet Tracking and Monitoring, Driver Management, Insurance Telematics, and Others); By Provider Type (OEM and Aftermarket) Market - Growth, Future Prospects, Post COVID-19 Scenario 2020 – 2028”, states that the global truck telematics market is expected to grow at a CAGR of 11.8% during the forecast period from 2020 to 2028.
Truck telematics is a combination of telecommunications and informatics. As a system, telematics receive, sends, and store data related to vehicle and driver. Truck telematics consist high fuel efficiency, security, navigation, road safety, communication, and improves maintenance and repairs. One of the main advantages of telematics data is that it's usually always-on and can be provided or retrieve in near-real-time, providing immediate and significant value to drivers, fleet owners, private third parties and regulatory authorities. Furthermore, safety analytics offers fleet managers to identify which drivers are practicing safe driving habits, and which drivers need additional training which increasing the fuel efficiency and safety of the entire fleet. Along with that, two-way communication provides by telematics can simplifies the driving in unexpected situations on the road, such as bad weather or a major traffic jam.
Telematics offers basic navigation/GPS technology to the next level, by consisting fleet managers with the details they need to improve the efficiency of the overall fleet. Navigation from telematics not only help drivers to plan their routes, but it also helps fleet to save fuel, ongoing maintenance costs and improves overall productivity. Moreover, next generation telematics is a telematics protocol, designed in order to provide the delivery of end-to-end telematics services Also, NGTP used for open interface, which allow OEMs to provide new services to both legacy and upcoming vehicles. These various factors contributing to the growth of the global truck telematics market.
Business owners can anticipate on numerus details collected by telematics software. Telematics software has to monitor and collect vast amount of personal data. Handling information which is associated to drivers, i.e. private individuals is a sensitive issue for quite a few reasons. Furthermore, increasing possibility of data theft, in current also according to market situation no business is resistant to cyber-attacks and the damage caused may be irreparable. Hence many of the customers does not find it comfortable which make the telematics unacceptable. So, growing concerns due to privacy and security issues creates the negative impact on the growth of the truck telematics market. Some of the major key players in the market include Daimler FleetBoard GmbH, Scania AB, Teletrac Navman US Ltd, Verizon Communications Inc., Volvo Trucks, Peloton Technology, Samsara Inc., WABCO Holdings Inc., Continental AG, Bendix Commercial Vehicle Systems LLC, Trimble Transportation, and Omnitracs.
Trends and Future Outlook:
Truck telematics is a combination of telecommunications and informatics. As a system, telematics receive, sends, and store data related to vehicle and driver. Truck telematics consist high fuel efficiency, security, navigation, road safety, communication, and improves maintenance and repairs. One of the main advantages of telematics data is that it's usually always-on and can be provided or retrieve in near-real-time, providing immediate and significant value to drivers, fleet owners, private third parties and regulatory authorities. Furthermore, safety analytics offers fleet managers to identify which drivers are practicing safe driving habits, and which drivers need additional training which increasing the fuel efficiency and safety of the entire fleet. Along with that, two-way communication provides by telematics can simplifies the driving in unexpected situations on the road, such as bad weather or a major traffic jam.
Telematics offers basic navigation/GPS technology to the next level, by consisting fleet managers with the details they need to improve the efficiency of the overall fleet. Navigation from telematics not only help drivers to plan their routes, but it also helps fleet to save fuel, ongoing maintenance costs and improves overall productivity. Moreover, next generation telematics is a telematics protocol, designed in order to provide the delivery of end-to-end telematics services Also, NGTP used for open interface, which allow OEMs to provide new services to both legacy and upcoming vehicles. These various factors contributing to the growth of the global truck telematics market.
Business owners can anticipate on numerus details collected by telematics software. Telematics software has to monitor and collect vast amount of personal data. Handling information which is associated to drivers, i.e. private individuals is a sensitive issue for quite a few reasons. Furthermore, increasing possibility of data theft, in current also according to market situation no business is resistant to cyber-attacks and the damage caused may be irreparable. Hence many of the customers does not find it comfortable which make the telematics unacceptable. So, growing concerns due to privacy and security issues creates the negative impact on the growth of the truck telematics market. Some of the major key players in the market include Daimler FleetBoard GmbH, Scania AB, Teletrac Navman US Ltd, Verizon Communications Inc., Volvo Trucks, Peloton Technology, Samsara Inc., WABCO Holdings Inc., Continental AG, Bendix Commercial Vehicle Systems LLC, Trimble Transportation, and Omnitracs.
Trends and Future Outlook:
- Growing driver safety concern, creates the demand for the truck telematics.
- Recent years, increasing advanced technology use create the market for the global truck telematics market.
- Rising road network connectivity and increasing logistic sector in various developed and developing countries creates the huge market opportunity for truck telematics market.
