Global Trailer Telematics Market Outlook 2023-2031: Growth Trends, Key Players, Competitive Strategies - Growing Demand for Safety and Security Features in Transportation Fuels Growth - ResearchAndMarkets.com

The "Trailer Telematics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.

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Thursday, August 3, 2023
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Other Transport, Trucking, Data Management, Transport, Technology, Acceleration, Communication, Partnership, Uptime, Accident, RFID, Feedback, Internet of things, GPRS, World Trade Organization, Volvo Trucks, Telematics, Movement, Government, ECall, Traction, Lytx, Radio, Growth, LTE, Safety, Beauty salon, Rail transport, Renewable energy, Heavy equipment
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NORTH AMERICA, EUROPE
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Summary
Key Points: 
  • The "Trailer Telematics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
  • 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.
  • Thus, the availability of these safety and security features is anticipated to stimulate the growth of the trailer telematics market in the coming years.


The "Trailer Telematics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.

The global trailer telematics market is projected to grow at a CAGR of 14% during the forecast period of 2023 and 2031.

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.

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.

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.

Company Profiles

  • 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
  • WABCO Corporation

Market 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

For more information about this report visit https://www.researchandmarkets.com/r/xjp0f4

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