$69.57 Billion Fleet Telematics Market Size Growth from 2022 to 2027: Descriptive Analysis of Customer Landscape, Vendor Assessment, and Market Dynamics – Technavio

New YorkAnd the December 2, 2022 /PRNewswire/ — Technavio ranks the global fleet telematics systems market as part of Automotive components and accessories marketmother market. The Automotive Components and Accessories market covers companies involved in the production of parts and accessories for vehicles such as passenger cars (computers), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quads, and three-wheelers. The Global Fleet Telecommunications Systems Market Volume is expected to grow by $69.57 Billion in compound annual growth rate 23.18% Between 2022 and 2027.

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Global Fleet Telecommunications Systems Market – Customer perspective

To help companies assess and develop growth strategies, the report identifies –

Global Fleet Telecommunications Systems Market Vendor analysis

seller view – The global fleet telematics systems market is fragmented, with many international and regional vendors. Notable vendors are constantly focused on developing scalable features for customers. They also develop innovative features, such as predictive solutions, to make their products attractive.

Vendors are very competitive in terms of features and pricing. Thus, the risk of competition is moderate in 2022 and is expected to remain the same during the forecast period.

Seller Offers –

• AT&T: The company offers fleet communication systems such as Fleet Tracker.

• Bridgestone Company: The company provides communication fleet systems such as fleet solutions through digital platforms.

• Continental AG: The company offers fleet communication systems such as fleet management system.

• Danaher Company: The company offers fleet communication systems such as fleet and asset management platforms.

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Global Fleet Telecommunications Systems Market – Partition evaluation

Geography overview

By geography, the global fleet communication systems market subdivided into APAC, North AmaricaAnd the EuropeAnd the The Middle East And the AfricaAnd the South america. The report provides actionable insights and an accurate estimation of the contribution of all regions to the global Fleet Telecommunication Systems market growth.

• North Amarica It will account for 34% of the market growth during the forecast period. Increasing number of offerings from Automotive OEMs and availability of strong aftermarket solutions are key factors driving the growth of the Fleet Telematics Systems market in North Amarica. In addition, the increasing adoption of 5G technologies and the increasing demand for freight transportation will support the growth of the regional market during the forecast period.

Sector overview

By type, the global fleet telematics systems market is segmented in aftermarket fleet telematics systems and OEM fleet telematics systems.

• Market share growth for Telecommunications Systems Sector Aftermarket Fleet It will be higher than other sectors during the forecast period. The largest share of the telematics systems segment in the aftermarket fleet can be attributed to the low penetration of OEM-installed telematics systems in vehicles. This segment is also driven by the growing demand for aftermarket fleet telematics systems from fleet operators.

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Global Fleet Telecommunications Systems Market – Market dynamics

• influential driver – The need for cost effective systems and solutions is a major driver shaping the market growth. Fluctuations in fuel prices and inefficiencies in fleet operations are challenges that put cost pressures on fleet operators. Hence, they are increasingly adopting various cost optimization strategies, including fleet telematics systems. Adopting telematics systems in the fleet can save fuel costs by up to 25%. It also allows fleet operators to reduce vehicle idle time by up to 30% and increase vehicle utilization by up to 20%. Also, fleet telematics systems help with remote monitoring of vehicle components, and fleet operators can use the generated data to optimize various parameters. Several of these benefits associated with the use of fleet telecommuting systems are driving market growth.

• main trend – Increasing developments in OEM fleet telematics systems is a major trend in the market. Car manufacturers partner with major vendors in the market to pre-install telematics systems in their vehicles. This eliminates the need to spend additional funds on internal system development. He also works as a product differentiator for the automaker. Auto manufacturers are also collaborating with fleet telematics vendors to increase the scalability of their telematics offerings. For example, in March 2019Daimler Trucks North America has teamed up with Zonar Systems to integrate Zonar Systems’ patented telematics technologies with its Detroit Connect platform. These developments between automakers and vendors are expected to positively impact the growth of the global fleet telematics systems market over the forecast period.

• The main challenge – High costs associated with fleet telematics systems are the main challenge in the market. Setting up a fleet telematics system involves licensing, setup and installation, which is expensive. The license fee must be renewed periodically, which adds to the total cost. In addition, the high cost of embedded telematics makes it difficult for car manufacturers to keep the prices of their products low. Hence, automakers have to either keep their profit margins low or shift the pressure onto customers. All these factors affect the decision-making of buyers, which reduces the growth potential in the market.

The driver, trend and challenges are the factors of market dynamics that you are talking about
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What key data is covered in the Fleet Telecommunication Systems Market report?

• The compound annual growth rate of the market over the forecast period

• Detailed information on the factors that will drive the growth of the Fleet Telecommunications Systems Market between 2023 and 2027

• Accurate estimation of the size of the Fleet Telecommunications Systems market size and its contribution in focusing on the parent market

• Accurate predictions about upcoming trends and changes in consumer behaviour

• Telecommunication Systems Market Industry Growth Across Asia Pacific, North AmaricaAnd the EuropeAnd the The Middle East And the AfricaAnd the South america

• Comprehensive analysis of the competitive landscape of the market and detailed information on vendors

• Comprehensive analysis of factors that will challenge the growth of the Fleet Telecommunication Systems market vendors

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Related reports:

• The Commercial Vehicle Fleet Management System Market The share is expected to increase to 8.16 billion US dollars From 2021 to 2026, the market growth momentum will accelerate at a compound annual growth rate of 7.64%. The high cost pressure on fleet operators is significantly driving the growth of the commercial vehicle fleet management system market, although factors such as the high cost associated with FMS may hinder the growth of the market.

• The Commercial vehicle telematics market share in the Americas is expected to rise to 7.97 billion US dollars From 2021 to 2026, at a compound annual growth rate of 16.6%. The cost savings options from IT-enabled UBI adoption are significantly driving the growth of the commercial vehicle telematics market in the Americas, although factors such as the high cost associated with telematics services may hinder market growth.

table of contents:

1. Executive summary

2 market view

3 Market Sizing

4 Historical market size

5 Five Forces Analysis

6 Segmentation of the market by type

7 Market segmentation by component

8 Customer perspective

9 geographical landscape

10 drivers, challenges and trends

11 landscape vendor

12 Vendor Analysis

13 Appendix

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