Market Trends of Europe Commercial Vehicle Telematics Industry
This section covers the major market trends shaping the Europe Commercial Vehicle Telematics Market according to our research experts:
Growing Demand For The Connected Trucks
- The increasing production of light commercial vehicles is helping to propel the connected truck market further. Telematics technology aids in the optimization of a variety of elements, including fuel usage, truck maintenance, and so on.
- Furthermore, the high adoption rate of modern technologies in the commercial vehicle industry, such as AI, machine learning, advanced driver assistance systems, and others, as well as the growing demand for autonomous trucks, are positively impacting the market's growth.
- Original equipment manufacturers (OEMs), suppliers, software and analytics businesses, dealers, and fleets benefit from the connected truck market's steady rise. While these solutions are a little expensive, and fleets have a limited understanding of telematics as part of fleet management systems (FMS), the prospect of turning enormous data analytics into actionable solutions is too appealing for fleets.
- The modern truck fleet's use of connected vehicles and procedures could result in significant efficiency gains. Previously, a fleet would have just watched immediate data points like vehicle GPS data, but advances in sensor technology and cellular bandwidth allow more detailed data management to improve vehicle uptime.
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Germany to Account For Significant Market Growth
- Factors such as technological advancements and government policies related to vehicle and passenger safety are expected to boost the country's demand for vehicle telematics solutions. Furthermore, the presence of various players offering telematics products and services, coupled with the rising awareness among consumers about road safety and increasing adoption of telematics by fleet owners, is propelling the demand for telematics solutions in the country's market.
- The country's automotive vehicle telematics is driven by safety and security solutions. Automobile passenger safety demand will rise as intelligent transportation systems and automated driving technologies evolve. Furthermore, the government has mandated that the number of passenger safety features in automobiles be increased.
- In Germany, the rising deployment of telematics systems in off-highway vehicles is a prominent trend in the market. The growing acceptance of telematics solutions in these vehicles is due to their increased productivity and efficiency, the growing demand for off-highway vehicle data analysis, and the need to reduce the operational expenses connected with their repair and maintenance.
- Furthermore, several automotive associations have standardized the major telematics solutions available for off-highway vehicles across the country, stimulating their usage in these vehicles.
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