Commercial Vehicle Telematics Market in Americas Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

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%.

This Americas commercial vehicle telematics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial vehicle telematics market in the Americas segmentations by type (embedded telematics, smartphone-based telematics, and portable telematics) and application (LCV and M and HCVs). The Americas commercial vehicle telematics market report also offers information on several market vendors, including AB Volvo, Agero inc., Airbiquity inc., AT and T inc., Bayerische Motoren Werke AG, Continental AG, DrivSafe LLC, Ford Motor Co., Garmin Ltd., General Motors Co., Michelin Group, MiX Telematics Ltd., Omnitracs LLC, Robert Bosch GmbH, Samsung Electronics Co. Ltd., TomTom international BV, Trimble inc., Valeo SA, Verizon Communications inc., and Visteon Corp. among others.

What will the Commercial Vehicle Telematics Market Size in the Americas be During the Forecast Period?

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"The US has the largest number of commercial vehicles in use for various commercial activities and is a prominent market for the sales of new commercial vehicles."

Commercial Vehicle Telematics Market in the Americas: Key Drivers, Trends, and Challenges

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. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial vehicle telematics industry in the Americas. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Americas Commercial Vehicle Telematics Market Driver 

• The cost savings options due to the adoption of telematics-enabled UBI is one of the key drivers supporting the Americas commercial vehicle telematics market growth.
• Regulations play an important role in adopting insurance in the automotive segment. Moreover, the regulations for necessary motor insurance are becoming a critical driver for UBI adoption.
• UBI allows insurers to create risk profiles based on real-time driving behavior tracked by on-board units (OBU) for individual customers. As UBI benefits both drivers and insurers, it is registering high growth in American countries such as the US and Canada.
• The factors like reduced insurance premium amounts and increased awareness about the risks of unsafe driving behavior are encouraging consumers to upgrade their vehicles with UBI technology or buy vehicles. 
• Growing functions in-vehicle telematics systems for tracking various vehicle-related information for increased safety and control are fueling the adoption of embedded solutions in the commercial vehicle telematics market in the Americas. This will prompt UBI suppliers to increase the usage of the system for broader functions by partnering with other telematics function participants for data sharing.

All the above-mentioned factors are expected to drive the Americas commercial vehicle telematics market growth during the forecast period.

Key Americas Commercial Vehicle Telematics Market Trend

• Usage of advanced analytics to optimize fleet efficiency is one of the key Americas commercial vehicle telematics market trends contributing to the market growth.
• Fleet operators receive large amounts of data related to their daily operations through various channels, such as documents from employees and technicians, fuel bills, and others. Integration of this data into the enterprise resource planning (ERP) system improves workflows and operational analysis.
• Software applications enable efficient management of data and reduce the probability of manual errors by automating the fleet management process.
• The availability of big data and its analytics would allow fleet managers to access, analyze, and strategize fleet operations to attain maximum asset utilization for optimum operating efficiency. 
• Creative sourcing of data and distinctive analytics methods are likely to provide a competitive advantage for fleet operators in the form of the prognostic system, which can predict remaining useful life (RUL) for maximum vehicle components that are prone to breakdown during long-distance traveling. This, in turn, will boost the Americas commercial vehicle telematics market growth during the forecast period. 

Key Americas Commercial Vehicle Telematics Market Challenge

• The high cost associated with embedded telematics services is one of the factors hampering the Americas commercial vehicle telematics market growth.
• The initial costs of setting up telematics include the setup, license, and installation fee, in addition to the payment for integration and customization with the current systems. Moreover, the license fee is supposed to be renewed regularly, and that adds to the overall cost.
• In the current price-sensitive market, where customers are looking for products that give them the maximum value for money, it has become difficult for manufacturers to shift the pricing pressure onto their customers. Therefore, manufacturers are compelled to keep their margins low.
• Fleet operators are looking for low-cost solutions like smartphone-based telematics that help keep their profit margins high. This may impact OEMs' objective to gain maximum control points in the telematics ecosystem and pose a challenge for the commercial vehicle telematics market in the Americas. 

This commercial vehicle telematics market in the Americas analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Market Overview

The global auto parts and equipment 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, and off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers.

Who are the Major Commercial Vehicle Telematics Market Vendors in the Americas?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• AB Volvo
• Agero inc.
• Airbiquity inc.
• AT and T inc.
• Bayerische Motoren Werke AG
• Continental AG
• DrivSafe LLC
• Ford Motor Co.
• Garmin Ltd.
• General Motors Co.
• Michelin Group
• MiX Telematics Ltd.
• Omnitracs LLC
• Robert Bosch GmbH
• Samsung Electronics Co. Ltd.
• TomTom International BV
• Trimble inc.
• Valeo SA
• Verizon Communications inc.
• Visteon Corp.

This statistical study of the commercial vehicle telematics market in the Americas encompasses successful business strategies deployed by the key vendors. The commercial vehicle telematics market in the Americas is fragmented and the vendors are deploying growth strategies such as innovation, price, quality and performance, and support services to compete in the market.

Product Insights and News

• Agero.com - The company offers commercial vehicle telematics such as 24-by-7 roadside assistance, digital reporting, status tracking, event monitoring, and dispatch details.
• Airbiquity.com - The company offers commercial vehicle telematics systems such as aqLink, aqServer, Choreo Platform, and Fleet Management.
• Att.com - The company offers commercial vehicle telematics such as fuel consumption monitoring, accident detection, and vehicle maintenance.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The commercial vehicle telematics market in the Americas forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

What are the Revenue-generating Type Segments in the Commercial Vehicle Telematics Market in the Americas?

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The commercial vehicle telematics market share growth in the Americas by the embedded telematics segment will be significant during the forecast period. Commercial vehicle OEMs have been trying to establish maximum control points in the commercial vehicle telematics market. They have been employing unique business models to increase their shares in the telematics ecosystem. Hence, there have been increasing collaborations between OEMs and other players in the commercial vehicle telematics market to encourage the adoption of embedded solutions. Thus, the increasing adoption of embedded solutions will drive the commercial vehicle telematics market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial vehicle telematics market size in the Americas and actionable market insights on post COVID-19 impact on each segment.

Parent Market Analysis

Technavio categorizes the commercial vehicle telematics market in the Americas as a part of the global auto parts and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial vehicle telematics market in the Americas during the forecast period.

Commercial Vehicle Telematics Market in the Americas Value Chain Analysis

Our report provides extensive information on the value chain analysis for the commercial vehicle telematics market in the Americas, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

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What are the Key Data Covered in this Commercial Vehicle Telematics Market in the Americas Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive commercial vehicle telematics market growth in the Americas during the next five years
• Precise estimation of the commercial vehicle telematics market size in the Americas and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the commercial vehicle telematics industry in the Americas  
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of commercial vehicle telematics market vendors in the Americas 

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