Seeing how the advancements in technology can help businesses move further with a lot more ease, fleet operators around the world are rushing to embrace the new array of systems we generally call telematics, engaging in a race that will make the market explode over the next five years.
According to a study conducted by ABI Research Telematics and Navigation, thanks to the increasing demand from China and other developing industries like Brazil and Russia, the telematics market is likely to grow to a staggering $16 billion by 2016.
Most of the growth, driven by demand, is now being sustained by the car makers themselves who, after seeing the opportunities in this sector, have begun offering OEM telematics solutions. Daimler, DAF Trucks, Scania, Renault, Iveco, and Volvo have stolen most of the market share which until now belonged to aftermarket companies and are offering telematics systems for fleets off the lines.
The fast development of this sector of the industry has also come with a few benefits for telematics system, making them more accessible, more affordable, easy to maintain, operate and upgrade.
“While commercial telematics in developed markets such as North America and Western Europe is reaching maturity, especially in the trucking segment, the major growth in future is expected to come from developing regions where safety and security requirements are currently the main drivers. This trend is typified by mandates in Brazil (Stolen Vehicle Tracking legislation) and Russia (eCall on commercial vehicles by 2013),” said ABI Research director Dominique Bonte.
According to a study conducted by ABI Research Telematics and Navigation, thanks to the increasing demand from China and other developing industries like Brazil and Russia, the telematics market is likely to grow to a staggering $16 billion by 2016.
Most of the growth, driven by demand, is now being sustained by the car makers themselves who, after seeing the opportunities in this sector, have begun offering OEM telematics solutions. Daimler, DAF Trucks, Scania, Renault, Iveco, and Volvo have stolen most of the market share which until now belonged to aftermarket companies and are offering telematics systems for fleets off the lines.
The fast development of this sector of the industry has also come with a few benefits for telematics system, making them more accessible, more affordable, easy to maintain, operate and upgrade.
“While commercial telematics in developed markets such as North America and Western Europe is reaching maturity, especially in the trucking segment, the major growth in future is expected to come from developing regions where safety and security requirements are currently the main drivers. This trend is typified by mandates in Brazil (Stolen Vehicle Tracking legislation) and Russia (eCall on commercial vehicles by 2013),” said ABI Research director Dominique Bonte.