Press release

Emerging Markets, ADAS, and Cold-Chain Driving Global Commercial Vehicle Telematics Revenues to Over US$29 Billion by 2024

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Global commercial telematics system revenues will nearly double by 2024
to over US$29 Billion, with subscriptions to exceed 86 million in the
same timeframe, according to ABI Research, a market-foresight
advisory firm providing strategic guidance on the most compelling
transformative technologies. Increasing opportunities in last-mile
delivery led by e-commerce, the need for greater transparency and
connectivity as well as the emergence of Level 2 SAE commercial vehicles
all will enable the technology to achieve a subscription CAGR of
approximately 14%.

“The commercial telematics industry continues to attract investments,
acquisitions, and geographic expansion to capture recurring revenue
streams as well as new vertical and market penetration opportunities,”
said Susan Beardslee, Principal Analyst at ABI Research. Services-based
commercial vehicles including utilities, cable/telco, and trades will
see a 19% CAGR from 2019 to 2024.

Telematics for cold-chain applications represent a significant
opportunity, especially for fresh and processed food, as food safety
concerns grow in light of multiple recent recalls. Global revenues will
grow to nearly US$2 Billion by 2024 for this category alone. Commercial
telematics providers that offer cold-chain solutions include MiX
Telematics, Trimble, Verizon, Gurtam, and Orbcomm.

ADAS capabilities will increasingly be integrated with factory installed
telematics and transmit data to those telematics devices. Trucks will
begin to ship this year with SAE Level 2 automation, and growing to over
224,000 units shipped by 2024, at a nearly 18% CAGR for use cases such
as driver behavior monitoring and insurance telematics.

These findings are from ABI Research’s Commercial
Telematics
market data report. This is part of the company’s Intelligent
Transportation & eFreight
research service, which includes
research, data, and Executive Foresights. Market
Data
spreadsheets are composed of deep data, market share analysis,
and highly segmented, service-specific forecasts to provide detailed
insight where opportunities lie.

About ABI Research

ABI Research provides strategic guidance for visionaries needing market
foresight on the most compelling transformative technologies, which
reshape workforces, identify holes in a market, create new business
models and drive new revenue streams. ABI’s own research visionaries
take stances early on those technologies, publishing groundbreaking
studies often years ahead of other technology advisory firms. ABI
analysts deliver their conclusions and recommendations in easily and
quickly absorbed formats to ensure proper context. Our analysts
strategically guide visionaries to take action now and inspire their
business to realize a bigger picture. For more information about
subscribing to ABI’s Research Services as well as Industrial and Custom
Solutions, visionaries can contact us at +1.516.624.2500 in the
Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or
visit www.abiresearch.com.