Commercial Vehicle Telematics Market in the Americas 2019-2023 | 17% CAGR Projection Over the Next Four Years | Technavio - InsuranceNewsNet

InsuranceNewsNet

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading newswires
Topics
  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property & Casualty
  • Advisor News
  • Washington Wire
  • Fiduciary Rule
  • INN Exclusives
  • Newswires
  • INNsider
  • INN Exclusives
  • NewsWires
  • Magazine
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • ★ Regulation News
  • Podcast
  • Magazine
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Susbcribe

Get Social

  • Facebook
  • Twitter
  • LinkedIn
  • Google+
Insider
newswires
newswires RSS Get our newsletter
Order Prints Share
December 4, 2018 newswires No comments Views: 3

Commercial Vehicle Telematics Market in the Americas 2019-2023 | 17% CAGR Projection Over the Next Four Years | Technavio

Business Wire

LONDON--(BUSINESS WIRE)-- The commercial vehicle telematics market in the Americas is expected to post a CAGR of over 17% during the period 2019-2023, according to the latest market research report by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181204005545/en/

Technavio has released a new market research report on the commercial vehicle telematics market in t ...

Technavio has released a new market research report on the commercial vehicle telematics market in the Americas for the period 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is cost saving due to adoption of telematics-enabled UBI. Regulations play a crucial role in the adoption of insurance in the automotive segment. Regulations for mandatory motor insurance are becoming a crucial driver for the UBI adoption. UBI allows insurers to create risk profiles for individual customers based on real-time driving behavior tracked by onboard units. As UBI benefits both insurers and drivers, it is registering high growth in developed regions like Europe and North America. Hence, it will be beneficial for fleet operations to adopt UBI and reduce the premium amounts by encouraging safe driving behavior.

This market research report on the commercial vehicle telematics market in the Americas 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

In this report, Technavio highlights the use of advanced analytics to optimize fleet efficiency as one of the key emerging trends in the commercial vehicle telematics market in the Americas:

Commercial vehicle telematics market in the Americas: Usage of advanced analytics to optimize fleet efficiency

Modern fleets are operated with more than one system, which requires information sharing across platforms. Modern vehicles are the source of large amounts of data in the form of GPS location and vehicle diagnostic data. By integrating this data into software applications enabled by an application protocol interface (API), the data collection process can be streamlined to gain quicker insights.

“Fleet operators receive large amounts of data related to their daily operations through various channels, such as documents from employees and technicians, fuel bills, routes traversed by vehicles, and work order performance reports. Integration of this data into the enterprise resource planning system improves workflows and operational analysis. Software applications enable an efficient management of data and reduce the probability of manual errors by automating the fleet management process. Additionally, the availability of big data and its analytics would allow fleet managers to access, analyze, and strategize fleet operations to attain maximum asset utilization for optimum operating efficiency,” says a senior analyst at Technavio for research on automotive electronics.

Commercial vehicle telematics market in the Americas: Segmentation analysis

This market research report segments the commercial vehicle telematics market in the Americas by application (LCVs and M&HCVs), type (embedded telematics, portable telematics, and smartphone-based telematics), and geographical regions (the US, Canada, and rest of Americas).

The LCVs segment held the largest market share in 2018, accounting for nearly 60% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The US led the market in 2018 with a market share of over 55%. This region is expected to dominate the market through 2023.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

View source version on businesswire.com: https://www.businesswire.com/news/home/20181204005545/en/

Technavio Research

Jesse Maida
Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

Source: Technavio Research

Older

Athene Agrees To $3.8B Pension Risk Transfer With Bristol-Myers

Newer

Cherokee Nation: Principal Chief Baker Declares State of Emergency Following Tornadoes

Advisor News

  • Going Broke Remains Top Concern In Retirement: CPA Survey
  • More Than 1 In 4 Americans Would Consider Divorce Over A Financial Secret
  • Financial Advisors Can Do Some ‘Life Coaching’
  • Commonwealth Financial Network Licenses Its 360° Software To MassMutual
  • The Way We’ve Always Done It Won’t Work With Millennials
More Advisor News

Annuity News

  • Securian Financial Posts Solid 2018
  • SEC Extends Comment Period For Proposed Rules On VA And Variable Life Disclosures
  • ‘Dream House’ Raffle Winner Choice: Historic California Home Or $5M Annuity?
  • RGA Announces Longevity Transaction With Manulife
  • Jackson National Inks Deal To Distribute Annuities To RIAs
More Annuity News

Health/Employee Benefits

  • Insurance Networks, Doctor Referrals Don’t Always Offer Full Picture
  • What Medicare For All Might Look Like If It Really Happened
  • Furloughed Workers Withdrew From Retirement Funds: Study
  • Democrats Roll Out Bill To Let Americans Buy Into Medicare At 50
  • Survey Finds Health Plans Are Struggling With Value-Based Reimbursement
More Health/Employee Benefits

Life Insurance

  • Securian Financial Posts Solid 2018
  • Understanding The Benefits Of Whole Life Insurance
  • Allianz Life Reports Solid 2018 Financial Results
  • Man Who Defraud Union In Life Insurance Scam Sentenced To Probation
  • SEC Extends Comment Period For Proposed Rules On VA And Variable Life Disclosures
Sponsor
More Life Insurance

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.
select Newsletter Options

Most Popular

  • What If The Market Goes Up? Why An FIA Is Better Than Stocks
  • Understanding The Benefits Of Whole Life Insurance
  • Furloughed Workers Withdrew From Retirement Funds: Study
  • NAIC Group Puts IUL Illustration ‘Multipliers’ Under Microscope
  • Regulations, Cybersecurity Are Biggest Risks For Financial Services: Survey

Featured Offers

Text Ads

Press ReleasesAll press releases

  • Great American’s Annuity Customers Share Their Secrets to a Great Retirement
  • Securian Financial Introduces Affordable, Protection-Focused IUL with No-Lapse Guarantee
  • TD Ameritrade Institutional Integrates with iPipeline to Automate New Account Opening
  • RFP R2019-78
  • Bunker Launches Live Certificates of Insurance, A Modern Solution to Insurance Fraud and Non-Compliance
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty News
  • Advisor News
  • Washington Wire
  • Regulation

Top Sections

  • INN Exclusives
  • INN Insider

Our Company

  • About
  • Editorial Staff
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter Google+
© 2019 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.