The Global Commercial Vehicle Telematics market is expected to grow by 21% from 2019 to 2023.

The factors contributing to the high growth of the market are the adoption of NGTP protocol, increased usage of smartphones, decreasing cost of sensors, and growing government mandate for adoption of telematics in commercial vehicles. These factors are also expected to shape up the future of the global market.

With the advancement of V2V and V2I communication technology, and self-driven vehicles, the number of vehicles that can communicate with each other is increasing, thereby raising privacy and security concerns related to GPS location, braking patterns and speed, and how users are going to handle this data. The connected systems have access to information, such as medical details, family details, addresses, and routes traversed. Thus Data privacy infringement is one of the major challenge faced by vehicle telematics market.

Vehicle telematics offers solutions and services like Fleet tracking, Driver management, Insurance management, Safety and compliance, V2X solutions and different managed services provided by companies.

With huge amounts of data required to be analyzed, the 2G technology is being replaced by 4G and 5G which can process, send and receive huge amounts of data in a short span. Consumers who were once tracking vehicles using GPS are also using real-time driver safety coaching, fleet maintenance, and fuel and productivity tools. This would enable the commercial vehicle fleet managers to increase the productivity of the vehicles. Smart phones and Tablets have become a part of daily routine, these devices are being integrated with the vehicles in order to transfer the on board information to the smartphones for easy assessment of real-time information. This allows the vehicle owners to monitor the speed-related accidents, control maintenance costs, and decrease fuel bills, etc. Social media is playing an important role in the present day scenario, it allows small companies to automatically broadcast their presence.