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Global Commercial Telematics Market- Analysis, Technologies & Forecasts to 2021 - Advanced Analytics on Telematics Data to Reduce the Severity RisksDUBLIN, August 9, 2017 /PRNewswire/ -- The "Global Commercial Telematics Market 2017-2021" report has been added to Research and Markets' offering.  The global commercial telematics market to decline at a CAGR of 18.42% during the period 2017-2021. Global Commercial Telematics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The latest trend gaining momentum in the market is advanced analytics on telematics data to reduce the severity risks. Customers are reluctant to use connected features in their vehicles due to the lack of trust regarding data privacy and also the risk of cyber-attacks. Companies have started applying advanced analytics to telematics data to attain transparency. Automotive companies have gained the opportunity to understand their customers in a better way and deliver personalized solutions in a completely connected environment. Telematics enables control and understanding of recall issues, which could potentially cost OEMs billions of dollars. OEMs partnering with telecoms service providers are expected to gain huge profits. Cloud-based solutions play a vital role in developing solutions tha include over-the-air (OTA) software updates, infotainment, security monitoring, vehicle health checks, and UBI. According to the report, one of the major drivers for this market is globalization of the telematics supply chain. Global trade activities have increased the fragmentation of logistics and production centers, creating new markets for commercial vehicle telematics. Supply chains have to be broken up into multiple stages with an increase in manufacturing costs in developed countries and the continued search for low-cost sources. Assembly operations are outsourced to countries, such as China, where the manufacturing costs are lower to reduce costs. The resulting need for the efficient transportation of assembled goods between various supply points increases demand for commercial vehicle telematics systems. Further, the report states that one of the major factors hindering the growth of this market is fleet tracking prices. Hidden costs for the application of telematics solutions could pose a challenge to the growth of this market. Fleet providers levy roaming charges for vehicles that go beyond the country's borders. Companies will also charge in situations such as vehicle replacement and end-contractual equipment termination. Moreover, perpetual licensing involves very high initial costs that customer must pay upfront. The initial investment includes the license fee, setup and installation cost, as well as the cost of customization and integration with existing systems. Integration or customization is very expensive. In some cases, it can be more expensive than the telematics device or the license fees itself. Key Vendors
Other Prominent Vendors
Key Topics Covered: PART 01: Executive summary PART 02: Scope of the report PART 06: Market segmentation by product PART 07: Market segmentation by end-user
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