Market Size of Europe Commercial Vehicle Telematics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 15.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Commercial Vehicle Telematics Market Analysis
The European Commercial Vehicle Telematics Market is expected to grow with a CAGR of 15.1% over the forecast period (2021-2027). The Europe automotive industry is disrupted by rapid demand for autonomous, connected, electric, and shared driving in the current market, causing unprecedented technology and business transformation. Moreover, amid the COVID-19 crisis, it is causing additional stress on the industry due to disruptions in supply and manufacturing, followed by a demand surge with uncertainty concerning the recovery timeline.
- 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 Industry Segmentation
Fleet managers and drivers use IoT-enabled vehicle telematics to address various issues, including unplanned repairs, excessive fuel expenses, insurance rates, and administrative complexity. The Europe Commercial Vehicle Telematics Market is segmented by type that includes fleet tracking & monitoring, driver management, insurance telematics, safety & compliance, V2X solutions, and Services, The study also tracks down various provider types of vehicle telematics that include OEM and aftermarket, and it also analyzed across various countries in Europe.
| By Type | ||||||||
| ||||||||
| Services |
| By Provider Type | |
| OEM | |
| Aftermarket |
| Geography | |
| Germany | |
| France | |
| United Kingdom | |
| Italy | |
| Spain | |
| Others |
Europe Commercial Vehicle Telematics Market Size Summary
The European Commercial Vehicle Telematics Market is experiencing significant growth, driven by the rapid evolution of the automotive industry towards autonomous, connected, electric, and shared driving solutions. This transformation is further accelerated by the increasing demand for safety management solutions, insurance telematics, and fleet tracking systems. The market is benefiting from the surge in logistics and e-commerce, which has led to a rise in the production of light commercial vehicles such as pick-up vans and small trucks. These vehicles are equipped with advanced telematics systems that provide valuable data for fleet management, enhancing operational efficiency and safety. The integration of technologies like AI, machine learning, and advanced driver assistance systems is also contributing to the market's expansion, as these innovations offer improved vehicle performance and driver accountability.
The market landscape is moderately competitive, with various players offering telematics solutions that cater to the needs of original equipment manufacturers, suppliers, and fleet operators. Despite the high costs and limited understanding of telematics among some fleets, the potential for transforming data analytics into actionable insights is driving adoption. Government policies and technological advancements are further propelling the demand for telematics solutions, particularly in countries like Germany, where there is a growing trend of deploying telematics systems in off-highway vehicles. The presence of multiple players and the increasing awareness of road safety among consumers are also key factors supporting market growth. Recent expansions and partnerships among leading companies, such as Webfleet Solutions and Ford, highlight the ongoing efforts to enhance telematics offerings and support the transition to electric vehicles.
Europe Commercial Vehicle Telematics Market Size - Table of Contents
-
1. MARKET INSIGHTS
-
1.1 Market Overview
-
1.2 Porters Five Forces Analysis
-
1.2.1 Threat of New Entrants
-
1.2.2 Bargaining Power of Buyers
-
1.2.3 Bargaining Power of Suppliers
-
1.2.4 Threat of Substitute Products
-
1.2.5 Intensity of Competitive Rivalry
-
-
1.3 Assessment of the Impact of COVID -19 on the Market
-
-
2. MARKET SEGMENTATION
-
2.1 By Type
-
2.1.1 Solutions
-
2.1.1.1 Fleet Tracking & Monitoring
-
2.1.1.2 Driver Management
-
2.1.1.3 Insurance Telematics
-
2.1.1.4 Safety & Compliance
-
2.1.1.5 V2X solutions
-
2.1.1.6 Others
-
-
2.1.2 Services
-
-
2.2 By Provider Type
-
2.2.1 OEM
-
2.2.2 Aftermarket
-
-
2.3 Geography
-
2.3.1 Germany
-
2.3.2 France
-
2.3.3 United Kingdom
-
2.3.4 Italy
-
2.3.5 Spain
-
2.3.6 Others
-
-
Europe Commercial Vehicle Telematics Market Size FAQs
What is the current Europe Commercial Vehicle Telematics Market size?
The Europe Commercial Vehicle Telematics Market is projected to register a CAGR of 15.10% during the forecast period (2024-2029)
Who are the key players in Europe Commercial Vehicle Telematics Market?
Webfleet Solutions B.V., Verizon Connect, ABAX UK Ltd, Masternaut Limited and Targa Telematics S.p.A are the major companies operating in the Europe Commercial Vehicle Telematics Market.
