Research Overview

As the world gets accustomed to the COVID-19 pandemic, many industries and markets are adopting a degree of change in the dynamics of their functionalities. The global connected truck telematics market has also transformed itself in many ways to adapt to changing customer and business requirements. This Frost & Sullivan research service analytically captures these elements and provides a comprehensive compilation of industry outlook for 2021.

The study fuses the video telematics market and the traditional telematics market and analyzes market metrics, competitive landscape, and market share. This year’s outlook study also features a section of carefully chosen unique and emerging companies to watch out for in 2021 in technologies and markets adjacent to the telematics industry. The research service also examines the impact of the pandemic on various parameters, including services offered, fleet size, regions, and business models. Moreover, the 2021 outlook study discusses a new region - the Middle East, which comprises GCC countries such as Saudi Arabia, UAE, Kuwait, Qatar, and Oman.

In 2021, the global connected truck telematics market is forecast to reach an installed base of about 36.5 million, raking in $11.5 billion in revenue through service subscriptions alone. This indicates an installed base growth rate of about 14.4%, which is 2.0% more than the 2020 number. The rise in global growth figures is mainly due to the steep increase in video telematics revenue, which drives overall telematics revenue.