A new study by market research firm Frost & Sullivan finds that the fast developing trailer telematics market in Europe is becoming a catalyst for driving the commercial vehicles telematics market in that region. As a result, Frost & Sullivan analysts predict that there is enormous opportunity for telematics vendors in this space as majority of the trailer population in Europe (as well as North America) remains underpenetrated.
The report says that within the trailer telematics market, trailer location and tracking is the most developed application. However, security concerns and the need for effective mobile asset monitoring and management are creating several new applications that are positioned in the growth development phase, says Frost & Sullivan analysis.
This new analysis from the research firm titled “Strategic Analysis of the European Trailer Telematics Market”, shows that the potential size of the market is vast, but it is not fully penetrated. The data indicates that less than five percent use this service in a pool of approximately 2.3 million trailers. However, the study estimates that it will increase to 18.2 percent in a pool of nearly 3.1 million trailers in 2017.
In a statement, Frost & Sullivan’s senior research analyst, Niranjan Manohar, stated, “Consolidation, horizontal collaboration and joint ventures among logistics operators is expected to increase the need for an integrated supply chain solutions provider providing end-to-end asset visibility.” He added, “To stay in business and survive competition, fleets must maximize efficiency in all aspects of their operations. Fleets are becoming aware of the tremendous productivity maximization benefits that trailer telematics can offer to their day-to-day operations, thereby reducing costs.”
Manohar added, “As the fleets’ and leasing companies’ operations get increasingly interfaced with that of their customers, the need for effective trailer tracking for productivity improvement is more critical now than ever before.”
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Edited by
Brooke Neuman