In the last few years, the commercial vehicle telematics market has registered significant momentum, thanks to growing awareness, need for fleet management, adoption in the cold chain & logistics segments, and penetration in the OEM market.
In India commercial vehicle telematics market, Heavy-Commercial Vehicles (HCVs) accounted for the majority of the market share; however, Medium Commercial Vehicles (MCVs) segment is poised to register significant growth over the next six years.
According to 6Wresearch, India Commercial Vehicles Telematics Market installed base is projected to reach 1.4 million by 2022. India's commercial vehicles telematics market is exhibiting growth as the freight companies are becoming more cautious about their vehicle fuel consumption, on-time delivery, repair cost and on-road safety. Moreover, commercial vehicle OEMs are collaborating with telematics players to develop an in-built telematics system.
I addition, prices are declining year-on-year due to increasing competition and adoption in the market. Amongst all end users, the cold chain segment has acquired the highest share of the overall market in 2015.
The report thoroughly covers the telematics market by vendor type, installed base, sectors, applications, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to decide and align their market strategies according to the current and future market dynamics.
Other Key Reports Available:
Media Courtesy : Open PR