Albany, NY -- (SBWire) -- 07/18/2017 --Commercial telematics is used in various applications such as fleet/asset management, satellite navigation, infotainment, insurance telematics, telehealth solutions, remote alarm and monitoring, and others (including emergency warning systems and wireless vehicle safety communication). Commercial telematics caters to a number of end-use industries including transportation and logistics, healthcare, construction, government and utilities, insurance, and manufacturing. The global commercial telematics market was valued at USD 14.67 billion in 2013 and is expected to grow at a CAGR of 18.0% during the forecast period 2014 – 2020.

OEM telematics and aftermarket telematics are the two types of commercial telematics. Further, OEM telematics include embedded OEM systems and hybrid OEM systems; and aftermarket telematics include embedded aftermarket telematics and portable aftermarket telematics. OEM telematics are already installed in vehicles by automobile manufacturers whereas aftermarket telematics include solutions that are installed by the users of vehicles post purchase. Increasing partnerships between automobile manufacturers and telematics service providers is driving the market for OEM telematics. Further, government mandates for installations of telematics devices such as GPS devices and satellite navigators in commercial vehicles is also driving the growth of commercial telematics market.

Obtain Report Details @ http://www.transparencymarketresearch.com/commercial-telematics-market.html

Of the mentioned applications, fleet/asset management is one of the most important applications of commercial telematics. Vehicle tracking, driver behavior analysis, navigation, entertainment, and asset monitoring are some of the functions carried out by commercial telematics solutions. In recent years, vehicle theft rates in countries such as Brazil and the U.S. are increasing, which is leading to the increased adoption of insurance telematics solutions. Furthermore, telematics is finding wide applications in industries such as healthcare, and government and utilities. Japan, Germany, U.S. and China are experiencing significant growth in the commercial telematics market for healthcare applications due to rising investments in technology to upgrade healthcare facilities in these countries. However, high cost incurred in initial installation and by network service providers are some challenges for wide adoption of commercial telematics solutions.

In 2013, North America was the largest market for commercial telematics in terms of revenue. The region has experienced significant adoption of commercial telematics solutions across industries such as transportation and logistics, and government and utilities. This is attributed mainly to high internet penetration in the North American region. Europe is expected to be the fastest growing region owing to the eCall initiative by the European Union. Demand from countries such as Japan, China, India, and Australia is expected to drive the Asia Pacific commercial telematics market in the coming years. Brazil is experiencing very high vehicle theft rate. As per Brazil's State Department of Public Safety and national traffic department in Rio de Janeiro, everyday 7 or 8 vehicles out of 100,000 are stolen. CONTRAN 245 is an initiative by the Brazilian government for mandatory installation of tracking devices in vehicles sold and manufactured in Brazil.

This 119-page report gives readers a comprehensive overview of the Commercial Telematics Market. Browse to unlock the hidden opportunities in this market@

http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2189

Among the product types within OEM telematics, embedded commercial telematics hold a dominant 68% share in the commercial telematics market. Hybrid telematics are the other category of commercial telematics and are expected to remain behind embedded commercial telematics in the coming years.

Within the product category of aftermarket commercial telematics, the major sub-segments are portable and embedded commercial telematics. Unlike the OEM commercial telematics sector, embedded telematics trail in this category, with portable commercial telematics leading with a 71% revenue share in the aftermarket telematics market.

"The main reason for this is the easier upgrading possible with portable telematics," explains a lead TMR analyst. "Replacing embedded telematics systems can be a bothersome task, which doesn't affect automobile manufacturers, but aftermarket buyers are attracted to portable telematics."

According to application, fleet and asset management and insurance telematics are the two major segments of the global commercial telematics market: while fleet and asset management led demand from the global market in 2013 with a 30% share, the insurance telematics market is expected to rise at a rampant 34.70% CAGR in the forecast period.