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M&As and Consolidations will Take Center Stage and will Transform the Market Status Quo by Letting in Diverse Ecosystem Participants and Expanding the Showground
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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. Frost & Sullivan analysis reveals that intense industry consolidation is likely to take place in 2021; a significant number of M&As are anticipated. Numerous partnerships between multiple stakeholder categories such as OEMs, Tier I companies, TSPs, venture capital firms, and private equity firms are expected. Frost & Sullivan also observes that against the backdrop of the ongoing pandemic, video telematics will take center stage and orchestrate market recovery. Based on crucial findings, Frost & Sullivan has evaluated key growth insights and opportunities. Video telematics, last-mile delivery, and convergence will be the key aspects that will nurture growth in the global connected truck telematics ecosystem in 2021.Author: Mugundhan Deenadayalan
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