According to ABI Research, a major provider of market intelligence specializing in emerging technologies, subscriptions for fleet tracking systems, may double by the year 2016. Company reports suggest fleet and trailer tracking system subscriptions around the world are currently at 13.3 million for the year, and will grow to a stunning 30.4 million by 2016.
"The commercial telematics market continues to enjoy good overall growth as smaller fleets and new non-trucking segments such as delivery, service and public and private transportation are being addressed by vendors offering more affordable solutions," said Dominique Bonte, VP of Telematics and M2M at ABI.
Commercial Vehicle Telematics is a concept used to describe the complete use of telecommunications and information systems within a vehicle. Most integrations of this technology often allow data to be sent, received and stored within devices that have been planted in the vehicle and within remote products.
This fusion of the telecommunications and informatics systems within vehicles can relate to the search vehicles do for wireless connectivity when using a GPS fleet tracking system.
Insurance telematics have also been gaining ground as a possible partnership between TomTom and Motaquote surfaces. Similarly, NexTraq and GMAC have made such a commitment to introduce insurance telematics. This proves that more companies are interested in usage-based insurance policies, rather than the traditional flat-rate insurance.
ABI Research (News - Alert) created a new report called "Commercial Telematics Market Data, Global," which provides forecasts including every region regarding hardware shipments and revenue, subscribers, service revenues and tracking system users.
Regions included in the report are the United States, Canada, Western Europe, Eastern Europe, Africa, Latin America, Asia-Pacific and the Middle East. The report also covers vehicle sales and statistics on the amount of vehicles currently in operation.
Edited by Braden Becker