Growing synergies between communications, computing, and trucking industries are expanding the North American market for commercial vehicle telematics. New analysis from Frost & Sullivan (www.transportation.frost.com
), North American Commercial Vehicle Telematics Market, reveals that the emergent market, which generated revenues of $771.3 million in 2001, is poised to surge to $2.1 billion in 2008. "Telematics product offerings should match requirements of different niche/vertical market customers," says Frost & Sullivan Industry Analyst Dr. Alfonso Corredor. "The available technology offers a wide spectrum of product possibilities, but getting to the core needs of customers will be crucial to boosting uptake." The company says new applications will need to address the specific needs of customers in diverse markets ranging from emergency services to private fleets. The existing deployment of non-automated, two-way communication products is expected to present telematics service providers with opportunities to emphasize the value of automatic services over non-automated substitutes. "The popularity of telematics in the trucking industry is brimming with opportunity for new participants," says Corredor. "Greater reliability and accuracy, streamlined operational efficiencies, higher safety levels, and real-time information on the status of shipments are just some latest reasons." Frost & Sullivan will hold a conference call at 3:00 p.m. (EST) on Thursday, November 14, 2002 to provide manufacturers, end-users and other industry participants an overview, summary, challenges and latest coverage on the North American Commercial Vehicle Telematics Market. Those interested in participating in the call should send an email to Cynthia Cabral – Media Relations Executive at [email protected]
Frost & Sullivan is a growth consulting specialist. This ongoing growth opportunity analysis is part of the North American ITS/Emerging Technologies Markets Subscription, which also includes market insights on the Impact of 42-Volt Electrical Systems on North American Automobiles and the North American Telematics Markets. Frost & Sullivan also offers custom growth consulting to a variety of national and international companies.