Portland, OR -- (SBWIRE) -- 02/20/2018 -- The telematics market holds a promising future for the growth of vehicle-embedded telematics technology. Automotive OEM embedded type, is expected to gain momentum, given the growing alliances between component or device manufacturers and connectivity service providers. This arrangement saves cost for not only the manufacturer but for the consumers as well. Transportation and logistics industry, is the leading market for the telematics. The fleet manager plays an important role in logistics and transportation industry. They help logistics operators in improving the productivity, performance and overall safety of fleets. Also, Insurance sector is one of the important drivers for telematics market, particularly in aftermarket solutions. They enable the insurance companies to minimize risk, through monitoring of different aspects such as maintenance, usage & security, etc.

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The scope of the telematics market, is likely to be high in American and European markets. The products of the European vehicle manufacturing companies, are dominant in the market. Regions such as APAC and LAMEA, though presently having lesser adoption, are expected to grow at comparatively higher growth rates, during the forecast period.

Key findings of Commercial Telematics Market:

- The growth of the global commercial telematics market would be supplemented by the increased adoption across key sectors such as Logistics and transportation, Insurance, Media and Entertainment and Healthcare during the forecast period (2014 - 2020)

- The need for vehicle tracing, safety and security, government regulations would continue to positively drive the global commercial telematics market over the analysis period (2014-2020)

- Fleet/Asset management solution is one of the most prominent solutions present in the market. It led the market with a share of almost 50% of the global telematics market, followed by Insurance telematics solution and expected to remain dominant in our analysed period.

- Asia-Pacific as well as LAMEA is forecast to be one of the most lucrative markets, in terms of growth given the supportive government regulations and the growing automotive market.

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