Commercial Vehicle Telematics Global Market Report 2024

The commercial vehicle telematics market size has grown rapidly in recent years. It will grow from $50.64 billion in 2023 to $59.91 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth observed in the historical period can be attributed to several factors, including regulatory mandates that drove the adoption of commercial vehicle telematics, initiatives aimed at optimizing fleet management practices, efforts to reduce costs and improve operational efficiency, the increased prominence of e-commerce and logistics industries, as well as a growing demand for real-time data and analytics within the sector.

The commercial vehicle telematics market size is expected to see rapid growth in the next few years. It will grow to $97.44 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the forecasted period can be linked to several factors, including the expansion of connected vehicles, increased demand for last-mile delivery services, a strong emphasis on environmentally friendly and sustainable fleets, the continued expansion of autonomous vehicle technologies, and the rising need for predictive maintenance solutions within the industry. Key trends expected in this forecasted period encompass heightened focus on enhanced cybersecurity measures, the emergence and adoption of telematics-as-a-service (TaaS) models, leveraging telematics for electric vehicle (EV) optimization, the development and deployment of real-time traffic management solutions, as well as increased integration of telematics systems with cloud-based platforms for enhanced functionality and accessibility.

The anticipated surge in the demand for electric vehicles (EVs) is poised to be a significant driver for the growth of the commercial vehicle telematics market. Electric vehicles are defined as vehicles powered by electric motors, utilizing electrical energy stored in rechargeable batteries or obtained from an external source. Telematics technology plays a crucial role in electric vehicles by collecting and transmitting data about the vehicle's performance, location, and other factors, enhancing efficiency and safety. As of September 2022, reports from the International Energy Agency indicate a substantial increase in electric vehicle sales, nearly doubling to 6.6 million in 2021, representing almost 9% of the sales share and experiencing a 4% increase from the previous year. This surge in demand for electric vehicles underscores the driving force behind the growth of the commercial vehicle telematics market.

The growing emphasis on fuel efficiency is expected to further propel the growth of the commercial vehicle telematics market. Fuel efficiency, measured as the distance traveled per unit of fuel consumed, has become a critical consideration for businesses operating commercial vehicles. Telematics technology plays a pivotal role in addressing this need by allowing real-time monitoring and optimization of fuel consumption. It provides valuable data on driving habits and performance, enabling the implementation of fuel-efficient practices, reducing operational costs, and helping businesses achieve sustainability goals. As of July 2022, a report from the Energy Information Administration (EIA) indicates a 2% average increase in vehicle efficiency between April 2021 and April 2022 in the United States. Additionally, in April 2022, the U.S. Department of Transportation announced new fuel economy standards, aiming for an 8% annual increase in fuel efficiency for model years 2024–2025 and a 10% annual increase for model year 2026. This regulatory push and the industry's focus on fuel efficiency contribute to the growth of the commercial vehicle telematics market.

Major players in the commercial vehicle telematics market are actively developing advanced technologies, particularly fleet management software, to cater to larger customer bases, increase sales, and boost revenue. Fleet management software is a specialized technology designed to assist businesses and organizations in efficiently managing and optimizing their fleet of vehicles. An example of this trend is seen in the actions of Ford Motor Company, a US-based automobile manufacturer. In September 2022, Ford Pro Fleet Management Software was launched, featuring distinctive capabilities that streamline administrative processes by replacing cumbersome paperwork with a user-friendly digital program. Developed on Fleetio software, it is compatible with both Ford and non-Ford vehicles, accommodating unlimited fuel payment cards, offering versatile maintenance program choices, and seamlessly integrating into the comprehensive suite of Ford Pro fleet solutions. This innovative fleet management software enables real-time tracking of the total cost of ownership and digitizes comprehensive fleet vehicle reports, providing an efficient and integrated solution for fleet management.

Major companies operating in the commercial vehicle telematics market are also adopting strategic partnership approaches to enhance the efficiency of managing vehicle fleets. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. An illustrative example is the partnership between Hertz, a US-based vehicle rental company, and Amazon Web Services Inc. (AWS), a US-based provider of cloud computing platforms. Established in April 2022, this partnership aims to modernize and digitize the Hertz customer experience and integral aspects of its new mobility platform. By incorporating advanced data analytics and vehicle telematics features, Hertz aims to expedite the transition to the cloud, utilizing AWS analytics and machine learning capabilities to harness the potential of customer and fleet data. The objective is to create personalized, connected vehicle solutions, enhance the overall driver experience, optimize existing operations, and seamlessly integrate sustainable electric vehicles and future mobility options into its services. This strategic collaboration reflects a commitment to innovation and efficiency in the commercial vehicle telematics market.


In September 2021, Bridgestone Americas Inc., a prominent US-based manufacturer specializing in tires and rubber products, completed the acquisition of Azuga Holdings Inc. for a total of $391 million. This strategic acquisition was undertaken by Bridgestone Americas Inc. with the objective of enhancing its portfolio of products and services. Additionally, the acquisition aimed to broaden its market presence and foster stronger competitiveness within the fleet management market segment. Azuga Holdings Inc., an American company known for its expertise in developing telematics solutions for vehicles and offering comprehensive fleet management services.

Major companies operating in the commercial vehicle telematics market report are Verizon Communications Inc., Cisco Systems Inc., Continental AG, Navistar International Corporation, Garmin Ltd., Trimble Inc., Tata Motors Limited, PTC Inc., Element Fleet Management Corp, Solera Inc., Samsara Inc., TomTom International BV, Omnitracs LLC, Geotab Inc., CalAmp Corp, Inseego Corporation, Mix Telematics International (Pty) Ltd., Lytx Inc., Zonar Systems Inc., Motive Technologies Inc., Platform Science Inc., Microlise Group PLC, Azuga Inc., Masternaut Limited, Spireon Inc., GPS Insight LLC, NexTraq LLC, Cetaris Co, Telemax Telematics Pty Ltd, AirIQ Inc.

Asia-Pacific was the largest region in the commercial vehicle telematics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial vehicle telematics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the commercial vehicle telematics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary categories within commercial vehicle telematics are solutions and services. A solution represents a method or approach to resolve specific challenges or issues, typically offered through original equipment manufacturers (OEM) and aftermarket providers. These telematics solutions cater to various industries or verticals, including transportation and logistics, government and utilities, travel and tourism, construction, education, healthcare, and other sectors. The technology is designed to address specific needs within these industries by enhancing vehicle operation, performance, and data-driven insights.

The commercial vehicle telematics market research report is one of a series of new reports that provides commercial vehicle telematics market statistics, including commercial vehicle telematics industry global market size, regional shares, competitors with a commercial vehicle telematics market share, detailed commercial vehicle telematics market segments, market trends, and opportunities, and any further data you may need to thrive in the commercial vehicle telematics industry. This commercial vehicle telematics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The commercial vehicle telematics market consists of revenues earned by entities by providing commercial vehicles telematics services such as vehicle tracking and location services, navigation and routing assistance, fleet management and optimization, and route planning and optimization. The market value includes the value of related goods sold by the service provider or included within the service offering. The commercial vehicle telematics market also includes sales of telematics devices, GPS tracking devices, electronic logging devices, sensors, onboard diagnostics (OBD), port adapters, and telematics control units that are used in providing commercial vehicle telematics services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.