Verizon Telematics Inc Presence in Commercial Vehicle Telematics Solutions
As a part of its inorganic growth strategy, the company acquired 2 of the leading players in the telematics market. In 2016, Verizon Telematics acquired Fleetmatics Group PLC and Telogis Inc. to enhance its product portfolio and market position in commercial vehicle telematics market. The company focuses on designing products and platforms that impeccably connect vehicles and people to the physical environment. It also focuses on providing strong network connectivity, which plays an important role in modernizing the commercial vehicle telematics market and supporting Verizon’s strategy of offering one of the strongest 4G LTE networks. Verizon is also investing in developing innovative technologies, such as Networkfleet Asset Guards. Verizon Telematics also introduces updates and new versions of its most popular products. Its partnership with automotive companies, such as Hyundai, has accelerated its business performance and provided new opportunities for automotive data services in the market. The company has devised the strategy of expanding its reach by incorporating more OEMs, partners, and resellers. The company’s key OEM partners in the commercial vehicle telematics market are Mercedes-Benz, State Farm, and Volkswagen. Verizon Telematics has a regional presence in 2,770 cities across 150 countries in North America, Europe, APAC, and Latin America.