Commercial vehicle telematics expected to grow
Apr 1, 2008 12:00 PM
The North American commercial vehicle telematics market appears poised to experience a wave of technology innovations, application penetration, and market growth. Specifically, multi-modal communication network advancements, reduced costs, and increasing safety and security concerns will drive market growth between now and 2013.
Those were among the conclusions of an analysis from Frost & Sullivan, which finds that the market earned revenues of over $1.48 billion in 2007 and estimates this to reach $6.47 billion in 2013.
The next level of telematic technologies will integrate telecommunications and focus on operations automation, security, communications, monitoring, prognostics, and mobile resource management applications, says Sandeep Kar, a program manager for the global growth consulting company. However, low awareness of the technology's benefits, high system costs, and the lack of standardized technology platforms pose major hurdles to the speedy adoption of these systems in the North American market.
With commercial vehicle operators increasingly seeking to enhance operating efficiencies, the analysis says growth can be spurred by market participants developing “scalable solutions based upon standardized multi-modal communication network architectures that feature compatible technologies and communication links that provide maximum applications at optimal overall costs.”
