Commercial Telematics Revenues Set to Surpass US$84 Billion as Fleets Seek More Real-Time Visibility

Asset visibility, vehicle lifecycle management, and road safety are the key drivers behind the growth outlook for commercial telematics solutions
07 Feb 2024

Investment in commercial telematics solutions will grow extensively over the coming years across all road fleets to leverage real-time visibility data analytics for operational efficiency. According to global technology intelligence firm ABI Research, the worldwide commercial telematics market is expected to surpass US$84 billion in 2032. Local delivery, government, and construction are among the highest adopters, with Compounded Annual Growth Rates (CAGR) of 14%, 13.5%, and 12.3%, respectively, between 2023 and 2032.

“The advancement in connectivity, as well as technological capabilities, such as edge computing and data analytics, have been a driver in increased use cases that have generated a lot of interest from end users not only about supply chain, but other verticals like construction, mining, and government fleets,” explains Adhish Luitel, Supply Chain Management & Logistics Senior Analyst at ABI Research.

The level of transparency telematics solutions provide enables drivers and fleet managers to track critical infractions during a trip and over time—information that can increase accountability and encourage safer driving habits. It can also mitigate costs, as preventive maintenance and fuel consumption tracking capabilities can be leveraged to improve vehicle lifecycle and reduce insurance costs. Some key commercial telematics vendors include GeotabVerizon ConnectSamsaraMiX Telematics, Powerfleet, Ford Pro, Lytx, and Motive.

“The commercial telematics space is also witnessing an emerging movement of solutions shifting from aftermarkets to vehicle-embedded factory fits, enabling connected commercial vehicles to be the norm. Such developments, coupled with recent congestions in the supply chain, have allowed fleet managers to realize the importance of collecting actionable data about how their vehicles, drivers, and mechanics are performing to optimize fleet utilization or make those concise and well-informed decisions in the future,” concludes Luitel.

These findings are from ABI Research’s Commercial Telematics market data report. This report is part of the company’s Supply Chain Management & Logistics research service, which includes research, data, and analyst insights. Based on extensive primary interviews,  Market Data reports present an in-depth analysis of key market trends and factors for a specific technology.

About ABI Research

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