7 November 2013
Overall penetration of telematics in the 29 million Light Commercial Vehicles (LCVs) in operation in Europe is just 6.2 per cent, which “presents immense opportunities for telematics vendors as well as original equipment manufacturers (OEMs),“ said market research firm Frost & Sullivan in a study published today.
The study estimates market revenues to go up from €1.10 billion in 2012 to €3.10 billion in 2019.
“The market, mainly dominated by independent aftermarket telematics solution providers, is witnessing the entry of OEMs that provide solutions covered by warranties and supported through dealership networks,” said Frost & Sullivan analyst Niranjan Manohar.
“These systems are popular as they are available through modular subscription schemes and allow customers to upgrade or downgrade their service level requirements.”
According to the study, beyond 2015, European legislations that mandate new cars to be equipped with eCall devices will facilitate the entry of more OEMs with new offerings in the LCV telematics space, further aiding market development.