Telematics is a system that tracks the whereabouts and condition of cars using GPS and other sensors, and it is becoming more and more crucial for fleet management, insurance, and other uses. As more businesses and governments become aware of the advantages of this technology, the telematics market is expanding quickly.
Commercial and consumer telematics are the two primary submarkets that make up the telematics sector. Consumer telematics is used by automobile owners to track their driving patterns and access different services, whilst commercial telematics is used by fleet managers to track and manage their cars.
The commercial telematics market is growing rapidly as more companies adopt this technology to improve the efficiency and safety of their fleets. The major benefits of commercial telematics are:
- Improved fleet management
- Reduced fuel costs
- Increased safety
- Reduced insurance costs
The consumer telematics market is also growing rapidly as more car owners adopt this technology to monitor their driving habits and access various services. The major benefits of consumer telematics include:
- Improved driving habits
- Access to services
- Reduced insurance costs
The telematics market is highly competitive and many companies are active in this market. The major players in the telematics market are:
Source: Verizon Connect,