Repeat business is a clear sign of the customer approval of this technology and is great publicity for system manufacturers.
New analysis from Frost & Sullivan (automotive.frost.com), Strategic Analysis of North American Trailer Telematics Market, finds that a hybrid telematics solution with open and flexible platform allows vehicle manufacturers to survive long-term in this competitive market. The market earned revenue of approximately $79.5 million in 2010 and estimates this to reach nearly $137.3 million in 2017.
"The escalating pace of development, catalyzed by the need to enhance supply chain and logistics efficiencies, are laying the foundation for long-term market penetration for trailer telematics hardware and service," says Frost & Sullivan Senior Research Analyst Niranjan Manohar. "Most importantly, providing end-to-end asset visibility is what will define success in this market."
The hardware systems used in the trailer telematics are mostly designed by the service providers, who offer trailer telematics hardware and services to their respective fleet partners. This hampers the setting of standards, which, in turn, hinders other service providers from using the existing designs in the hardware technology.
The lack of standardization in the enabling technologies has impeded the integration of trailer telematics hardware technology and thereby, the development of new technologies and volume growth.
"Standardization and consolidation of the hardware technology will lead to faster product development through innovative technology, making trailer telematics cost effective and more affordable," notes Manohar. "It will also increase telematics' market penetration and make available profitable solutions to the customers."
Standardization will allow participants to drop prices and eventually, expand in a price-sensitive market. The focus on developing low-cost system will also provide a thrust to the market, as will the demand for high levels of service and time-critical information transparency.
The efficient management of mobile assets such as trailers/semi-trailers is becoming a significant concern for all fleets involved in transportation and logistics.
"The rise in trade and dissemination processes such as just-in-time supply is fostering a business environment for fleets and leasing companies that are radically different from that of the recent past," observes Manohar. "This is creating a demand for trailer telematics solutions in North America, stoking telematics penetration."
If you are interested in a virtual brochure on this study, please send an email to Sarah Saatzer, Corporate Communications, at sarah.saatzer[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
Strategic Analysis of North American Trailer Telematics Market is part of the Automotive & Transportation Growth Partnership Services program, which also includes research in the following markets: Strategic Analysis of North American Medium and Heavy-duty Commercial Vehicle Telematics Market (Class 4 to 8 Vehicles) and Strategic Analysis of the European Trailer Telematics Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
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 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit frost.com.
Strategic Analysis of North American Trailer Telematics Market / N947