Mumbai, Maharashtra, India
The fragmented and hitherto sluggish commercial vehicle (CV) telematics market in India is set to take off. Infrastructure and adoption rates will improve as state and municipal transport corporations initiate safety services, such as real-time, location-based services and intelligent transport systems in public vehicles. With annual telematics sales expected to grow six fold by 2023, vehicle original equipment manufacturers (OEMs) and telematics suppliers must arrive at the optimum business model to attract the right set of customers.
“With vast untapped potential for telematics usage in various industries, India will become a hotspot for new entrants to introduce future-generation products and services, and attract a large customer base,” said Intelligent Mobility Industry Analyst Satendra Kumar.
Recent analysis from Frost & Sullivan, Indian Commercial Vehicle Telematics Market, is part of the Automotive & Transportation Growth Partnership Service program that also offers insights on heavy-duty truck platforms, autonomous trucks foundation technologies, commercial trucking, used transit bus market, light commercial vehicle telematics, and off-highway vehicles.
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While the delay in the implementation of government schemes forced many companies to exit and temporarily dampened adoption of telematics, the market is now powering forward, encouraged by the potential benefits of safety, efficiency and diagnostics.
As supportive legislations grow, the market will shift toward advanced, fit-to-purpose solutions, such as collision avoidance and on-board driver training. Reducing vehicle downtime through vehicle health management and preventive maintenance will be another focus area for OEMs and large fleets.
“The telematics market in India will consolidate going forward as small companies with a healthy customer base are acquired by multinational companies, such as Trimble Navigation and Efkon, looking to enter the arena,” noted Kumar. “OEMs will also step up partnerships with aftermarket vendors to support services for mixed fleets.”
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