Fleet telematics systems market size to grow by USD 69.57 billion From 2022 to 2027: A Descriptive Analysis of Customer Landscape, Vendor Assessment, & Market Dynamics – Technavio

NEW YORK, Dec. 2, 2022 /PRNewswire/ — Technavio categorizes the global fleet telematics systems market as a part of the automotive components and accessories market, the parent market. The automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. The global fleet telematics systems market  size is forecast to grow by USD 69.57 billion at a CAGR of 23.18% between 2022 and 2027.

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Global fleet telematics systems market – Customer Landscape

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global fleet telematics systems market – Vendor Analysis

Vendor Landscape – The global fleet telematics systems market is fragmented, with the presence of numerous international and regional vendors. Prominent vendors are continuously focusing on developing scalable features for customers. They are also developing innovative features, such as prognostic solutions, to make their products attractive.

The vendors pose stiff competition in terms of features and price offerings. Hence, the threat of rivalry is moderate in 2022 and is expected to remain the same during the forecast period.

Vendor Offerings –

• AT&T Inc.: The company offers fleet telematics systems such as Fleet Tracker.
• Bridgestone Corp: The company offers fleet telematics systems such as fleet solutions through digital platforms.
• Continental AG: The company offers fleet telematics systems such as Fleet management system.
• Danaher Corp.: The company offers fleet telematics systems such as fleet and asset management platforms.
• For Details on vendor and its offerings – Buy report!

Global fleet telematics systems market – Segmentation Assessment

Geography Overview

By geography, the global fleet telematics systems market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global fleet telematics systems market.

• North America will account for 34% of the market’s growth during the forecast period. The increased number of offerings from automotive OEMs and the availability of strong aftermarket solutions are some of the key factors driving the growth of the fleet telematics systems market in North America. In addition, the increased adoption of 5G technologies and the rising demand for freight transportation will support the growth of the regional market during the forecast period.

Segment Overview

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

• The market share growth of the aftermarket fleet telematics systems segment will be higher than the other segments during the forecast period. The larger share of the aftermarket fleet telematics systems segment can be attributed to the low penetration of OEM-installed telematics systems in vehicles. The segment is also driven by the increased demand for aftermarket fleet telematics systems from fleet operators.

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Global fleet telematics systems market – Market Dynamics

• Impactful Driver – The need for cost-effective systems and solutions is a major driver shaping the growth of the market. Fluctuations in fuel prices and the inefficiency of fleet operations are some of the challenges that put cost pressure on fleet operators. Hence, they are increasingly adopting various cost optimization strategies, including fleet telematics systems. The adoption of fleet telematics systems 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 in the remote monitoring of vehicle components, and fleet operators can use the data generated to improve on various parameters. Many such benefits associated with the use of fleet telematics systems are driving the growth of the market.
  
   
• Key Trend – The growing developments in OEM fleet telematics systems is the key trend in the market. Automotive manufacturers are partnering with key vendors in the market to pre-install telematics systems in their vehicles. This eliminates the need to spend additional money on the development of an in-house system. It also acts as a product differentiator for the automaker. Automobile manufacturers are also collaborating with fleet telematics systems vendors to increase the scalability of their telematics offerings. For instance, in March 2019, Daimler Trucks North America collaborated with Zonar Systems to integrate Zonar Systems’ patented telematics technologies with its Detroit Connect platform. Such developments among automakers and vendors are expected to positively influence the growth of the global fleet telematics systems market during the forecast period.
  
   
• Major Challenge – The high costs associated with fleet telematics systems is the major challenge in the market. Setting up a fleet telematics system involves a license, setup, and installation, which is expensive. The license fee must be renewed periodically, which further adds to the overall cost. Additionally, the high cost of embedded telematics makes it difficult for vehicle manufacturers to keep their product prices low. Hence, automakers have to either keep their profit margins low or shift the pressure on customers. All these factors are affecting the decision-making of buyers, which is reducing the growth potential in the market.

Driver, Trend & Challenges are the factors of market dynamics that state about

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What are the key data covered in this fleet telematics systems market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fleet telematics systems market between 2023 and 2027
• Precise estimation of the size of the fleet telematics systems market size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the fleet telematics systems market industry across APAC, North America, Europe, Middle East and Africa, and South America
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of fleet telematics systems market vendors

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Related Reports:

• The commercial vehicle fleet management system market share is expected to increase to USD 8.16 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.64%. The high-cost pressure on fleet operators is notably driving the commercial vehicle fleet management system market growth, although factors such as high cost associated with FMS may impede the market growth.
• The commercial vehicle telematics market share in the Americas is expected to increase to USD 7.97 billion from 2021 to 2026, at a CAGR of 16.6%. The cost savings options due to the adoption of telematics-enabled UBI is notably driving the commercial vehicle telematics market growth in the Americas, although factors such as high cost associated with embedded telematics services may impede the market growth.

Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global fleet telematics systems market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global fleet telematics systems market 2017 – 2021 ($ billion)

• 4.2 Type Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 ($ billion)

• 4.3 Component Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Component Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type – Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Aftermarket fleet telematics systems – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Aftermarket fleet telematics systems – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Aftermarket fleet telematics systems – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Aftermarket fleet telematics systems – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Aftermarket fleet telematics systems – Year-over-year growth 2022-2027 (%)

• 6.4 OEM fleet telematics systems – Market size and forecast 2022-2027 
• Exhibit 38: Chart on OEM fleet telematics systems – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on OEM fleet telematics systems – Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on OEM fleet telematics systems – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on OEM fleet telematics systems – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ billion)

7 Market Segmentation by Component

• 7.1 Market segments
• Exhibit 43: Chart on Component – Market share 2022-2027 (%)
• Exhibit 44: Data Table on Component – Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 45: Chart on Comparison by Component
• Exhibit 46: Data Table on Comparison by Component

• 7.3 Active – Market size and forecast 2022-2027 
• Exhibit 47: Chart on Active – Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Active – Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Active – Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Active – Year-over-year growth 2022-2027 (%)

• 7.4 Passive – Market size and forecast 2022-2027 
• Exhibit 51: Chart on Passive – Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Passive – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Passive – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Passive – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Component 
• Exhibit 55: Market opportunity by Component ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 61: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 63: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 65: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 69: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027 
• Exhibit 73: Chart on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 81: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 UK – Market size and forecast 2022-2027 
• Exhibit 85: Chart on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.10 Germany – Market size and forecast 2022-2027 
• Exhibit 89: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.11 China – Market size and forecast 2022-2027 
• Exhibit 93: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.12 Canada – Market size and forecast 2022-2027 
• Exhibit 97: Chart on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 Actsoft Inc.
• Exhibit 108: Actsoft Inc. – Overview
• Exhibit 109: Actsoft Inc. – Product / Service
• Exhibit 110: Actsoft Inc. – Key offerings

• 12.4 AT and T Inc.
• Exhibit 111: AT and T Inc. – Overview
• Exhibit 112: AT and T Inc. – Business segments
• Exhibit 113: AT and T Inc. – Key offerings
• Exhibit 114: AT and T Inc. – Segment focus

• 12.5 Bridgestone Corp
• Exhibit 115: Bridgestone Corp – Overview
• Exhibit 116: Bridgestone Corp – Business segments
• Exhibit 117: Bridgestone Corp – Key news
• Exhibit 118: Bridgestone Corp – Key offerings
• Exhibit 119: Bridgestone Corp – Segment focus

• 12.6 Continental AG
• Exhibit 120: Continental AG – Overview
• Exhibit 121: Continental AG – Business segments
• Exhibit 122: Continental AG – Key offerings
• Exhibit 123: Continental AG – Segment focus

• 12.7 Danaher Corp.
• Exhibit 124: Danaher Corp. – Overview
• Exhibit 125: Danaher Corp. – Business segments
• Exhibit 126: Danaher Corp. – Key news
• Exhibit 127: Danaher Corp. – Key offerings
• Exhibit 128: Danaher Corp. – Segment focus

• 12.8 Fleet Complete
• Exhibit 129: Fleet Complete – Overview
• Exhibit 130: Fleet Complete – Product / Service
• Exhibit 131: Fleet Complete – Key offerings

• 12.9 Garmin Ltd.
• Exhibit 132: Garmin Ltd. – Overview
• Exhibit 133: Garmin Ltd. – Business segments
• Exhibit 134: Garmin Ltd. – Key offerings
• Exhibit 135: Garmin Ltd. – Segment focus

• 12.10 Geotab Inc.
• Exhibit 136: Geotab Inc. – Overview
• Exhibit 137: Geotab Inc. – Product / Service
• Exhibit 138: Geotab Inc. – Key news
• Exhibit 139: Geotab Inc. – Key offerings

• 12.11 Inseego Corp.
• Exhibit 140: Inseego Corp. – Overview
• Exhibit 141: Inseego Corp. – Product / Service
• Exhibit 142: Inseego Corp. – Key offerings

• 12.12 Michelin Group
• Exhibit 143: Michelin Group – Overview
• Exhibit 144: Michelin Group – Business segments
• Exhibit 145: Michelin Group – Key news
• Exhibit 146: Michelin Group – Key offerings
• Exhibit 147: Michelin Group – Segment focus

• 12.13 Microlise Group Plc
• Exhibit 148: Microlise Group Plc – Overview
• Exhibit 149: Microlise Group Plc – Product / Service
• Exhibit 150: Microlise Group Plc – Key offerings

• 12.14 Omnitracs LLC
• Exhibit 151: Omnitracs LLC – Overview
• Exhibit 152: Omnitracs LLC – Product / Service
• Exhibit 153: Omnitracs LLC – Key offerings

• 12.15 Samsung Electronics Co. Ltd. 
• Exhibit 154: Samsung Electronics Co. Ltd. – Overview
• Exhibit 155: Samsung Electronics Co. Ltd. – Business segments
• Exhibit 156: Samsung Electronics Co. Ltd. – Key news
• Exhibit 157: Samsung Electronics Co. Ltd. – Key offerings
• Exhibit 158: Samsung Electronics Co. Ltd. – Segment focus

• 12.16 Trimble Inc.
• Exhibit 159: Trimble Inc. – Overview
• Exhibit 160: Trimble Inc. – Business segments
• Exhibit 161: Trimble Inc. – Key offerings
• Exhibit 162: Trimble Inc. – Segment focus

• 12.17 Verizon Communications Inc. 
• Exhibit 163: Verizon Communications Inc. – Overview
• Exhibit 164: Verizon Communications Inc. – Business segments
• Exhibit 165: Verizon Communications Inc. – Key offerings
• Exhibit 166: Verizon Communications Inc. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 167: Inclusions checklist
• Exhibit 168: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 169: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 170: Research methodology
• Exhibit 171: Validation techniques employed for market sizing
• Exhibit 172: Information sources

• 13.5 List of abbreviations 
• Exhibit 173: List of abbreviations

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