Innovative exhibits at CES 2024 emphasize the intensifying competition amid projections of a nearly $10 billion opportunity within the next 4-5 years.
The medium and heavy commercial vehicles industry is being transformed by advanced telematics and connectivity technologies. At CES 2024, we got to see innovative telematics solutions aimed at making the driving experience safer, smarter, and more streamlined.
Our Top Picks
Netstar and Microsoft
- South Africa based Netstar announced a collaboration with Microsoft to deploy Microsoft Connected Fleets Architecture to leverage and scale cloud capabilities for its telematics offerings.
HERE Technologies
- HERE showcased its Advanced Traffic Patterns system that utilizes extensive data collected from onboard sensors, telematics systems, and mobile devices, amounting to trillions of data points. This data is then processed to generate highly precise traffic speed information tailored for commercial vehicles.
ATrack
- The newly unveiled ATrack AW500 dashcam integrates camera hardware and AI. According to the company, Wide Dynamic Range (WDR) technology is used by the dashcam to overcome challenging operating conditions.
- The IP67-rated ATrack AS300 is an asset tracking device intended for various applications such as cold chain and construction equipment.
To learn more about developments in this space, please see: Global Connected Medium & Heavy Commercial Vehicles Growth Opportunities and Growth Opportunities for Bus ADAS in North America and Europe, or contact sathyanarayanak@frost.com for information on a private briefing.
Our Perspective
Telematics and connected solutions have become key to enhancing productivity, performance, safety, and the overall driving experience in the global commercial vehicle industry. Over the next five years, we will see telematics devices proliferating across both medium and heavy-duty trucks. A recent Frost & Sullivan report projects the global connected medium and heavy-duty commercial vehicles market to be close to $10 billion by 2028.
Government regulations will boost the uptake of telematics and fleet management systems across the commercial vehicles space. This will be reinforced by rising customer awareness about the RoI benefits linked to telematics and fleet connectivity.
Dashboards with a range of fleet management tools will gain increasing traction even as video telematics, digital freight solutions, AI and machine learning (ML)-enabled technologies become more widespread. The integration of AI and ML with video dashcam systems that promote effective fleet management will make strong gains. Moreover, solutions that target driver well-being with a view to continually improving asset safety and performance will become an integral part of telematics vendors’ portfolios.
The competitive landscape will evolve. Partnerships between OEMs and third-party telematics hardware suppliers will burgeon. New players like Tier 1 component suppliers, auto insurance companies, technology firms, AI companies, and data service providers will enter the fray. Vendors with EV telematics will attempt to take advantage of opportunities presented by telematics and vehicle electrification trends.
With inputs from Amrita Shetty, Senior Manager, Communications & Content – Mobility
