Europe Commercial Vehicle Telematics Market

Europe Commercial Vehicle Telematics Market Analysis

The Europe Commercial Vehicle Telematics Market is expected to register a CAGR of 15.1% during the forecast period.

• Most connected vehicles nowadays are provided with sensors that generate valuable data used by fleet managers for smooth operations and supporting automakers in delivering personalized customer experiences. With more advanced features and technologies, commercial vehicles are now utilizing advanced technologies, resulting in the entry of more technology and software giants into the automotive industry.
• As the telematics sector is dependent on vehicle demand, increased demand for mall trucks, pick-up vans, and other light commercial vehicles alongside the growing demand for safety management solutions, insurance telematics, and fleet tracking systems is set to boost the market growth rate.
• Due to the ease of commute, commercial vehicles such as pick-up vans, small trucks, and other light commercial vehicles are rapidly increasing. For instance, the rise in logistic industries and e-commerce businesses has resulted in an increase in commercial vehicle production, which is expected to boost the growth of the commercial vehicle telematics market in the region.
• Further, the vehicle telematics solutions provide drivers with a sense of responsibility. The performance is regularly examined and monitored with these solutions. In addition, vehicle telematics systems include detecting sensors. Several safety features are alerted to the car owner by these sensors. Vehicle owners are becoming aware of various safety hazards, including exceeding speed limits, detecting stop sign breaches, having lane-drifting warnings, warnings on forwarding collisions, and more, which is driving the market growth.
• The leading players in the market are looking forward to leveraging the opportunities presented by the introduction of electric vehicles (EVs) in the market.

Europe Commercial Vehicle Telematics Market Trends

Growing Demand For The Connected Trucks

• The increasing production of light commercial vehicles is helping to propel the connected truck market further. Telematics technology aids in the optimization of a variety of elements, including fuel usage, truck maintenance, and so on.
• Furthermore, the high adoption rate of modern technologies in the commercial vehicle industry, such as AI, machine learning, advanced driver assistance systems, and others, as well as the growing demand for autonomous trucks, are positively impacting the market's growth.
• Original equipment manufacturers (OEMs), suppliers, software and analytics businesses, dealers, and fleets benefit from the connected truck market's steady rise. While these solutions are a little expensive, and fleets have a limited understanding of telematics as part of fleet management systems (FMS), the prospect of turning enormous data analytics into actionable solutions is too appealing for fleets.
• The modern truck fleet's use of connected vehicles and procedures could result in significant efficiency gains. Previously, a fleet would have just watched immediate data points like vehicle GPS data, but advances in sensor technology and cellular bandwidth allow more detailed data management to improve vehicle uptime.

Germany to Account For Significant Market Growth

• Factors such as technological advancements and government policies related to vehicle and passenger safety are expected to boost the country's demand for vehicle telematics solutions. Furthermore, the presence of various players offering telematics products and services, coupled with the rising awareness among consumers about road safety and increasing adoption of telematics by fleet owners, is propelling the demand for telematics solutions in the country's market.
• The country's automotive vehicle telematics is driven by safety and security solutions. Automobile passenger safety demand will rise as intelligent transportation systems and automated driving technologies evolve. Furthermore, the government has mandated that the number of passenger safety features in automobiles be increased.
• In Germany, the rising deployment of telematics systems in off-highway vehicles is a prominent trend in the market. The growing acceptance of telematics solutions in these vehicles is due to their increased productivity and efficiency, the growing demand for off-highway vehicle data analysis, and the need to reduce the operational expenses connected with their repair and maintenance.
• Furthermore, several automotive associations have standardized the major telematics solutions available for off-highway vehicles across the country, stimulating their usage in these vehicles.

Europe Commercial Vehicle Telematics Industry Overview

The Europe Commercial Vehicle Telematics Market is moderately competitive due to various players in the market. The market is transforming with the evolution of technologies, but conventional technology will continue to hold the major share.

• May 2021 - Webfleet Solutions has expanded its operations into Hungary. Now, the company will offer tailored solutions and services to meet the needs of the local business fleet market; hence the expansion reinforces Webfleet Solutions' European market will be Prominent in the transport sector, with more than 200,000 heavy commercial vehicles (HCVs) connected through its fleet management solution WEBFLEET.
• June 2021 - Ford expanded its connected uptime system to European fleet operators by introducing Ford Telematics Essentials, a complimentary new fleet management tool designed to help increase the productivity of connected commercial vehicles.
• June 2021 - Investindustrial agreed to acquire Targa Telematics, an Italian technology company that offers solutions in telematics, smart mobility, and digital IoT platforms for mobility operators.

Europe Commercial Vehicle Telematics Market Leaders

Europe Commercial Vehicle Telematics Market News

• June 2021 - Telematics and fleet management services provider Masternaut has launched its new MoveElectric solution, which aims to support the management of company fleets as they transition from internal combustion engines (ICE) to electric vehicles (EVs).
• May 2021 - Alphabet Italia chose Octo Telematics as its partner to implement a car sanitation system that will allow drivers and fleet managers to use their vehicles more safely. In collaboration with Octo, Alphabet presents Alphabet CleanAir, the new automatic sanitation system for the cars in its fleet.
• February 2021 - ABAX and Linkway announced a partnership that enables carriers using ABAX telematics to share positions with principals easily. The integration results from data sharing and opens new opportunities and services, which increases the number of features of the solution.