The ‘Global Advanced Telematics in Trucks Market’ was valued at $XX Billion in 2020 and is expected to reach $XX Billion 2031 at the CAGR of XX% between 2021 and 2031
Advanced telematics in trucks is the science of informatics and telecommunications that is being applied in computational systems and as well as in wireless technologies. Advanced telematics technology is a modern version of telecommunication, road transportation and vehicle technology which has massively impacted vehicle’s navigation system for generations, and is likely to augment the demand of the technology throughout various automotive verticals. The telematics equipment offers different features that make a vehicle smarter. Advanced telematics in trucks offers a communication pathway between the driver and the dispatcher. Information is being sent to a central server from the truck, from where the dispatcher gains access about the truck location. Exception alerts are also present to notify the dispatcher when the truck leaves a limited geographic area. Advanced telematics provided in trucks helps to improve the efficiency of an organization.
Advanced Telematics in Trucks offers wide range of benefits to stakeholders and fleet operators. These benefits may include tracking of trucks which offers better security, greater work productivity, lower maintenance cost of trucks through remote vehicle diagnostics and others. Market of ‘advanced telematics technology’ in trucks is still at a very nascent stage in some regions and with a billion dollar investments in research and development of applications throughout various automotive industry verticals, market growth of advanced telematics has a very high potential. Advanced telematics technology combines location technology (Global Positioning System or GPS), onboard computing, and other communication technology that helps in creating a massive potential market for various applications and most of the automotive companies to adapt the technology by 2031.
The study provides a detailed view of the advanced telematics in trucks market, by segmenting it based on provider, application, industry verticals and regional demand. In automotive industry, there are various services facilitated by telematics equipment such as fuel management, driver behavior, journey analysis, vehicle diagnostics, vehicle tracking, GPS and navigation, vehicle theft tracking, internet connectivity and others. Advanced telematics in trucks offers a communication pathway between the driver and the dispatcher. Advanced telematics technology combines location technology (Global Positioning System or GPS), onboard computing, and other communication technology that helps in creating a massive potential market for various applications and most of the automotive companies to adapt the technology by 2031.
Major applications of advanced telematics technology covered in report are Trailer tracking, Vehicle tracking, Container tracking, Cold store, Satellite navigation, Wireless vehicle safety communications, and vehicle mileage capture. The report has been segmented by truck type into four different categories such as light trucks, medium trucks, heavy trucks and off-road trucks.
In automobile industry, advanced telematics in trucks is a futuristic technology with its capacity to monitor vehicle behavior as well as driving behavior and then pass on the information to the user. Telematics technology will be one of the major trends to gain traction in this market in the upcoming years. Telematics system will reduce the probability of vehicle disconnection which occurs due to mechanical failures. The key driver behind growth in telematics system in truck is the importance of vehicle connectivity. New vehicle sales, spare part sales, service or repair are some of the major segments that enable greater value chain coverage. Telematics technology reduces liability and security risks as well. The rise in demand of advanced telematics can increase the demand for automobile which in turn causes the expansion of automobile industry.
Some of the major players in the advanced telematics technology market are Qualcomm Inc., Aether Systems Inc., Masternaut, PeopleNet Communications Corp., Daimler Fleetboard GmbH, among others.
The Global Advanced Telematics in Trucks Market has been segmented into:
Advanced Telematics in Trucks Market: By Truck Type
Advanced Telematics in Trucks Market: By Application
Advanced Telematics in Trucks Market: By Components
Advanced Telematics in Trucks Market: By Geography
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