The global commercial telematics market is expected to grow at a CAGR of more than 18 percent during 2017-2021, according to Technavio report.
TomTom Telematics, Trimble and Verizon are the key vendors in the global commercial telematics market.
The telematics market report said the global commercial telematics market will grow rapidly due to the increased awareness of safety and security services among consumers.
The demand for vehicles with Internet connectivity is escalating among consumers and businesses. Consumers use telematics to reduce fuel consumption, enable safe driving, and avoid traffic congestion.
The growing emphasis on personalization, customization, and seamless on-the-go experiences is responsible for the rapid growth in the demand for high-end vehicle systems in the automotive industry.
“M2M connectivity networks, such as GPS, Wi-Fi, and radio frequency identification technologies, enable organizations to track their modes of transport,” said Rohan Roy Thomas, a lead machine to machine (M2M) and connected devices research analyst at Technavio.