According to IMARC Group’s latest report, titled “India Commercial Telematics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the India commercial telematics market reached a value of US$ 1,005 Million in 2021. Looking forward, IMARC Group expects the market value to reach US$ 3,119 Million by 2027, exhibiting a CAGR of 21.52% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Commercial telematics is a technological solution that helps transmit long-distance information to commercial automobiles. It relies on global positioning systems (GPS) and onboard diagnostic systems to record the speed and behavior of vehicles. It also allows the interchange of information between the central authority and the commercial vehicle and alerts the fleet manager in case of any emergency or unauthorized movement. In recent years, commercial telematics has gained traction in India as it monitors the driver behavior, enabling insurance providers to determine the risk and adjust the policy accordingly.
India Commercial Telematics Market Trends:
The market is primarily driven by the expanding transportation sector and the widespread adoption of smart transportation systems. In addition, various technological advancements, such as the introduction of open-source frameworks and Next-Generation Telematics Protocol (NGTP), a technology-neutral system designed to make technical adjustments in commercial vehicles, represents another major growth-inducing factor. Besides this, several key players are integrating advanced connectivity solutions with the vehicles that offer accurate insights, enhance vehicle efficiency, provide on-road assistance, and improve the driver’s overall experience. This, coupled with the implementation of favorable government policies to mandate commercial vehicle tracking, is creating a favorable market outlook across the country. Moreover, extensive research and development (R&D) activities and the emergence of video-based telematics are also propelling the market growth.
Key Market Segmentation:
The report has segmented the India commercial telematics market on the basis of type, system type, provider type, end use industry and region.
Breakup by Type:
- Fleet Tracking and Monitoring
- Driver Management
- Insurance Telematics
- Safety and Compliance
- V2X Solutions
- Professional Services
- Managed Services
Breakup by System Type:
- Smartphone Integrated
Breakup by Provider Type:
Breakup by End Use Industry:
- Transportation and Logistics
- Media and Entertainment
- Government and Utilities
- Travel and Tourism
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape With Key Players:
The competitive landscape of the market has also been examined along with the profiles of the key players.
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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