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Europe Commercial Vehicle Telematics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 90 Pages
  • June 2022
  • Region: Europe
  • Mordor Intelligence
  • ID: 5617252
UP TO OFF until Mar 31st 2024
The Europe 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.

Key Highlights

  • Most connected vehicles are nowadays provided with sensors that generate valuable data used by fleet managers for smooth operations and supporting automakers in delivering a personalized experience to customers. With more advanced features and technologies, commercial vehicles are now utilizing advanced technologies which is 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.

Key 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 are all benefiting from the connected truck market's steady rise. While these solutions are currently 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 are allowing for more detailed data management aimed at improving 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 demand for vehicle telematics solutions in the country. 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. The demand for passenger safety in automobiles 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 the increased productivity and efficiency of these vehicles, as well as the growing demand for off-highway vehicle data analysis and the need to reduce the operational expenses connected with their repair and maintenance.
  • Furthermore, the major versions of telematics solutions available for off-highway vehicles have been standardized by several automotive associations across the country, which stimulates their usage in these vehicles.

Competitive Landscape

The Europe Commercial Vehicle Telematics Market is moderately competitive due to the presence 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 a Prominet 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.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
4.1 Market Overview
4.2 Porters Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the Impact of COVID -19 on the Market
5.1 Market Drivers
5.1.1 Growing Demand for the Connected Trucks
5.1.2 Reduction of Fuel Costs with Real Time and Historical data
5.2 Market Restraints
5.2.1 Security and Privacy Concerns Due To Communication Technology
6.1 By Type
6.1.1 Solutions Fleet Tracking & Monitoring Driver Management Insurance Telematics Safety & Compliance V2X solutions Others
6.1.2 Services
6.2 By Provider Type
6.2.1 OEM
6.2.2 Aftermarket
6.3 Geography
6.3.1 Germany
6.3.2 France
6.3.3 United Kingdom
6.3.4 Italy
6.3.5 Spain
6.3.6 Others
7.1 Company Profiles
7.1.1 Navistar International Corporation
7.1.2 Volvo Trucks Corporation
7.1.3 Ford Motor Company
7.1.4 Hino Motors Ltd
7.1.5 General Motors Company
7.1.6 PTC Inc.
7.1.7 Trimble Inc.
7.1.8 Fleetmatics Pvt.Ltd
7.1.9 Lytx Inc.
7.1.10 Tata motors Ltd

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Navistar International Corporation
  • Volvo Trucks Corporation
  • Ford Motor Company
  • Hino Motors Ltd
  • General Motors Company
  • PTC Inc.
  • Trimble Inc.
  • Fleetmatics Pvt.Ltd
  • Lytx Inc.
  • Tata motors Ltd