New Study from StrategyR Highlights a $31.3 Billion Global Market for Commercial Vehicle Telematics by 2026

The U.S. Market is Estimated at $3.8 Billion in 2021, While China is Forecast to Reach $5.5 Billion by 2026

A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Commercial Vehicle Telematics – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Executive Pool: 5054
Companies: 53 – Players covered include Agero Inc.; Airbiquity, Inc.; AirIQ Inc.; BOX Telematics Ltd.; BSM Technologies Inc.; CalAmp; Ctrack; Davis Instruments; Fleetmatics Group PLC; Geotab Inc.; Intelligent Telematics; Omnitracs LLC ; OnStar LLC; Orbcomm Inc.; Qualcomm Inc.; Telit Wireless Solutions; Transport Management Solutions Ltd.; Trimble Transport & Logistics; Zonar Systems and Others.
Coverage: All major geographies and key segments
Segments: Type (Service, Solution); Provider Type (OEM, Aftermarket); End-Use (Transport & Logistics, Insurance, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Commercial Vehicle Telematics Market to Reach $31.3 Billion by 2026
Amid the COVID-19 crisis, the global market for Commercial Vehicle Telematics estimated at US$10.4 Billion in the year 2020, is projected to reach a revised size of US$31.3 Billion by 2026, growing at a CAGR of 20.1% over the analysis period. Service, one of the segments analyzed in the report, is projected to record a 18.7% CAGR and reach US$19.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solution segment is readjusted to a revised 21.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.8 Billion in 2021, While China is Forecast to Reach $5.5 Billion by 2026
The Commercial Vehicle Telematics market in the U.S. is estimated at US$3.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.5 Billion by the year 2026 trailing a CAGR of 19.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.9% and 17.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.9% CAGR. More 

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