Commercial Vehicles telematics market value to grow 133% by 2015

The impact of the economic downturn on the European heavy and medium commercial vehicles telematics market will be outweighed by strong market-driving factors including fleet process optimisation and cost cutting, says a new Frost & Sullivan report on the market.

The replacement cycle in mature markets such as the Benelux as well as nascent demand in emerging markets like Poland, where fleet management system installed base is expected to grow at 16.5% CAGR through 2008 - 2015, will further promote market expansion.

Frost & Sullivan’s An Update on The European Heavy and Medium Commercial Vehicles Telematics Market finds that it was worth €413.5m (US$578m) in 2008 and is estimated to reach €963.1m in 2015. The research covers commercial vehicle telematics applications, primarily fleet management systems, track and trace, remote vehicle diagnostics, emergency assistance and navigation (as a service bundled with a fleet management system).

"The inherent need for fleets to be more profitable and customer-centric in order to establish a competitive edge in tough market conditions is fuelling the demand for various telematics solutions," says Frost & Sullivan analyst Karthik Elamvaluthi. "At the same time, fleet operators are compelled to adopt telematics in order to meet rising customer demand for a high degree of service and information transparency."

Source: www.automotiveworld.com