trailer-telematics-market

Trailer Telematics Market By Solutions & Services (Solutions, Services), By Application (Transportation & Logistics, Healthcare, Government & Utilities), By Trailer Type (Dry Van, Flatbed Trailer, Refrigerated Trailer, Step Deck Trailer), By Utility Trailer (Semi-trailer, Tilt-based Trailer, Others), By Sales Channel (Original Equipment Manufacturer (OEM), After market) - Growth, Share, Opportunities & Competitive Analysis, 2023 – 2031

14 Apr 2023 Format PDF icon PPT icon XLS icon Request Sample

The global trailer telematics market is projected to grow at a CAGR of 14% during the forecast period of 2023 and 2031.  Increased demand for safety and security features in transportation is anticipated to drive the global trailer telematics market over the forecast period. Telematics monitor and track a trailer's movement and condition. Telematics is gaining traction in commercial vehicles of all types. Telematics are mandated by road regulations for commercial vehicles to better track fuel emissions. The high initial investment is a significant market constraint. However, advancements in transportation infrastructure are anticipated to present market participants with lucrative opportunities. To expand their market share, leading automakers are integrating telematics into their vehicles.  BPW BergischeAchsen KG, CalAmp Corporation, Continental AG, Delphi Technologies, Inseego Corp., Intel Corporation, Masternaut Limited, Microlise, MiX Telematics, Novacom Services, Omnitracs, Phillips Connect Technologies, Robert Bosch GmbH, Tirsan Solutions, TomTom International B.V., Trimble Inc., Truck-Lite Co., LLC, Verizon, and WABCO Corporation, among others, are the key market players dominating the market.

Trailer Telematics Market

The Development of The Trailer Telematics Market Is Accelerated by The Growing Demand for Safety and Security Features in Transportation

Telematics systems in trailers typically include a variety of safety and security features designed to enhance the safety of trailer operation and safeguard the trailer and its contents. Geofencing enables fleet managers to establish virtual boundaries around specific locations and receive notifications if a trailer crosses these boundaries. This helps prevent trailers from being taken outside of designated areas. Telematics systems can monitor the operator's driving behavior, including their speed, acceleration, and braking patterns. This data can be used to provide the driver with feedback and reduce the likelihood of accidents. Thus, the availability of these safety and security features is anticipated to stimulate the growth of the trailer telematics market in the coming years.

Global Trade Activity Expansion

According to the World Trade Organization, the volume of international merchandise trade increased by 3.5% in 2022. Increased commercial activity is likely to increase the demand for commercial vehicles to transport goods. Telematics systems improve communication, job assignment, and routing. These systems also record and transmit data regarding engine performance, velocity, and driver conduct. Consequently, the expansion of commercial vehicle fleets is anticipated to drive market growth shortly.

Trends in the Trailer Telematics Market

The latest connectivity technologies, including the Internet of Things (IoT), LTE, GPRS, and radio connectivity, are being incorporated by trailer manufacturers. These technologies allow fleet operators to monitor operational efficiency and uphold safety. Uptime and availability of commercial vehicles are crucial for fleet operators because they have a direct impact on revenue. Therefore, trailer fleet operators and manufacturers are adopting telematics to evaluate the condition of their vehicles, maintain maintenance records, and offer roadside assistance to drivers. In May 2021, Volvo Trucks formed a partnership with Lytx to enhance safety and performance with cutting-edge video telematics.

High rate of Telematics Solution Adoption

According to the most recent market analysis of trailer telematics, the solutions segment is anticipated to lead the industry during the forecast period. Several governments worldwide are mandating the use of telematics solutions, such as electronic toll collection and eCall capabilities. These telematics features make driving more enjoyable. Recently, the Indian government mandated that RFID tags be placed on medium and heavy-duty vehicles for electronic toll collection.

North America remains the Global Leader

North America is expected to hold the largest share of the global trailer telematics market between 2023 and 2031, according to the most recent market forecast. Europe is estimated to come in second place. In these regions, the presence of an established trucking industry and the implementation of stringent road safety regulations are driving market growth. During the projected period, the industry in Asia-Pacific is anticipated to expand at a rapid rate. Shortly, the presence of major automakers is anticipated to enhance market dynamics in the region.

Historical & Forecast Period

This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Trailer Telematics market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Trailer Telematics market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2021-2031
Base Year 2022
Forecast Period  2023-2031
Historical Year  2021
Unit  USD Million
Segmentation
Solutions & Services
  • Solutions
    •     Fleet Tracking & Monitoring
    •     Vehicle Tracking
    •     Dynamic Routing
    •     Predictive Maintenance
    •     Fuel Management
    •     Driver Management
    •     Driver Time Analysis
    •     Driver Behavior Assessment
    •     Driver Information System
    •     Safety and Compliance
    •     Insurance Telematics
    •     V2X Solutions
    •     Others
  • Services
    •     Professional Services
    •     Managed Services

Application
  • Transportation & Logistics
  • Healthcare
  • Government & Utilities

Trailer Type
  • Dry Van
  • Flatbed Trailer
  • Refrigerated Trailer
  • Step Deck Trailer

Utility Trailer
  • Semi-trailer
  • Tilt-based Trailer
  • Others

Sales Channel
  • Original Equipment Manufacturer (OEM)
  • After market

 Region Segment (2021–2031; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Trailer Telematics market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2031.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Trailer Telematics market?
  • Which is the largest regional market for Trailer Telematics market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Trailer Telematics market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Trailer Telematics market worldwide?
Choose Licence Type
$4500
$6500
$9000
Why Acute
View Other Reports