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Frost & Sullivan Projects Strong Growth for European Commercial Vehicles Telematics Market Despite Current Economic Slowdown - The impact of the economic downturn on the European heavy and medium commercial vehicles telematics market will be outweighed by strong market-driving factors including fleet process optimisation and cost cutting
Frost & Sullivan Projects Strong Growth for European Commercial Vehicles Telematics Market Despite Current Economic Slowdown

 

NewswireToday - /newswire/ - London, United Kingdom, 2009/06/25 - The impact of the economic downturn on the European heavy and medium commercial vehicles telematics market will be outweighed by strong market-driving factors including fleet process optimisation and cost cutting.

   
 
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Moreover, the replacement cycle in mature markets such as the Benelux as well as nascent demand in emerging markets like Poland, where fleet management system installed base is expected to grow at 16.5% CAGR through 2008 – 2015, will further promote market expansion.

New analysis from Frost & Sullivan (automotive.frost.com), An Update on European Heavy and Medium Commercial Vehicles Telematics Market, finds that the market earned revenues of €413.5 million in 2008 and is estimated to reach €963.1 million in 2015. The research covers commercial vehicle telematics applications, primarily fleet management systems, track and trace, remote vehicle diagnostics, emergency assistance and navigation (as a service bundled with a fleet management system).

"The inherent need for fleets to be more profitable and customer-centric in order to establish a competitive edge in tough market conditions is fuelling the demand for various telematics solutions," notes Frost & Sullivan Research Analyst Karthik Elamvaluthi. "At the same time, fleet operators are compelled to adopt telematics in order to meet rising customer demand for a high degree of service and information transparency."

In difficult economic conditions, fleet operators are bound to look for cost cutting opportunities that also boost their competitive edge. Telematics provides the necessary tools to effectively monitor, analyze and optimise truck driver behaviour and fuel consumption for operation cost optimisation. Moreover, telematics facilitates superior service delivery.

The commercial vehicles telematics market has not been spared by the economic slowdown and credit crisis which have, to a great extent, negatively influenced market dynamics. Although there is a section of cash-rich fleets that continues to invest in telematics even during difficult times, most fleets across Europe are procrastinating or simply avoiding any potential investment.

"The current slowdown and credit crunch is dissuading fleet operators from any potential investments that target the overhaul of their operations," explains Elamvaluthi. "This might lead to the postponement of system replacement in certain cases and, in others, to delays in upgrading from the existing track and trace system to a fleet management system."

Telematics vendors should focus on creating a perfect mix of product with service at the right price to reduce the cost of ownership and improve the rate of return on investment. In order to maximise growth potential, companies should focus on effectively promoting in major markets and on emphasising awareness creation in emerging markets.

"Ideally, fleet operators will continue to invest once the payback time is shorter and telematics vendors extend viable and attractive finance options," concludes Elamvaluthi. "Companies should focus on finding the right product and service and finance option mix to target fleets in the current scenario."

If you are interested in a virtual brochure which provides a brief synopsis of the research and a table of contents, please email Monika Kwiecinska, Corporate Communications, at monika.kwiecinska[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brief brochure will be sent to you by email.

An Update on European Heavy and Medium Commercial Vehicles Telematics Market is part of the Automotive & Transportation Growth Partnership Service programme, which also includes research in the following markets: Executive Update of European Passenger Vehicle Telematics and Infotainment Markets, Strategic Analysis of the Russian Automotive Market: New Opportunities for the Global Participants and, An Update of European Markets for Telematics Based Pay-As-You-Drive Vehicle Insurance. All research included in subscriptions provides detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.

An Update on European Heavy and Medium Commercial Vehicles Telematics Market / M33C

 
 
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Frost & Sullivan Projects Strong Growth for European Commercial Vehicles Telematics Market Despite Current Economic Slowdown

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Automotive & Transportation | Frost & Sullivan
Publisher Contact: Monika Kwiecinska 
+48 22 390 4127 monika.kwiecinska[.]frost.com
 
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