The North American trailer telematics market has been active for more than a decade with fierce competition among its market participants. Despite its long presence, the market remains largely fragmented, and the competition is too intense for any considerable market consolidation to happen.
New York, Sept. 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North American Trailer Telematics Growth Opportunities" - https://www.reportlinker.com/p06149552/?utm_source=GNW
However, the market is currently witnessing an influx of new stakeholders from various stages of the supply chain, manufacturers of hardware, engines, brakes, tires, and so on. These new classes of competitors—traditionally non-telematics companies—are expanding their market portfolio vigorously by including telematics solutions in addition to their traditional products.A number of original equipment manufacturers (OEMs) and Tier I suppliers find the telematics market to be very lucrative because of the revenue potential it beholds. Owing to their interest in the market space, they are trying to penetrate the market inorganically by means of partnerships, mergers, and acquisitions. In North America, the top 5 competitors hold more than 70% of the total market share. Trailer OEMs in NA have a fairly below par market presence with less contribution in terms of market share attributed primarily to the domination of aftermarket third-party vendors. The market is enduring a transformation toward increased platform openness to integrate and complement various other ecosystem vendors as a way to offer more value to customers. In effect, hardware platforms are becoming modular while software systems are increasingly adopting open architecture, thus allowing for extensive solution customization.Telematics hardware providers have a critical role to play in connecting end users with telematics platforms. Apart from offering hardware solutions, including a comprehensive telematics suite of solutions can be an effective strategy for companies to provide a holistic package directly to the end user. Such a comprehensive and holistic package will work in tandem with advanced AI-powered systems with smart sensors providing platform modularity. Innovative business models will usher in creative revenue possibilities for stakeholders and further drive the trailer telematics market in North America.This research on the North American trailer telematics market focuses on key market parameters, growth indicators, innovative business models, and micro and macro trends. Key trends include hardware modularity, truck-trailer one-stop solution, compliance, camera integration, real-time freight matching, and visibility. In addition, this research analyzes region-specific trends in services, solutions, and technologies in comparison to the global market scenario.This comprehensive analysis reveals that the North American trailer telematics market is penetrated at a modest 24.7% as of 2020, leaving many avenues for growth and improvement. Of the total trailer telematics installed base in North America, the research takes a deep dive and identifies the market penetration rates of different trailer types including flatbed, dry box, reefers, tanker, and others. Installed base contribution by refrigerated trailer units and dry units is explored in detail, and their growth analyses are projected for a period of 3 years, from 2020 to 2023. The growth projections of contributions by different trailer types are also analyzed and discussed to provide a glimpse of the market’s short-term growth potential.
Author: KrishnaChaithanya Bathala
Read the full report: https://www.reportlinker.com/p06149552/?utm_source=GNW
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