Global Commercial Vehicle Telematics Software Market to Reach USD 15.5 Billion by 2030

According to the latest market research study published by P&S Intelligence, the commercial vehicle telematics software market is witnessing rapid expansion, supported by rising digitalization across fleet operations. The market is projected to generate USD 6.7 billion in 2024, and is poised to grow at a strong CAGR of 15.1% from 2025 to 2030, ultimately reaching USD 15.5 billion by 2030. This growth is primarily driven by the increasing reliance of fleet owners on data analytics to improve operational accuracy, enhance efficiency, and streamline decision-making.

The industry is also benefiting from the transportation sector’s expanding focus on cost efficiency and improved productivity. Fleet operators are increasingly adopting telematics software to monitor driver behavior, optimize routes, and track vehicles in real time—actions that significantly reduce maintenance expenses, cut down fuel usage, and enhance overall vehicle performance. Additionally, environmental concerns are fueling regulatory pressure worldwide, compelling fleet operators to incorporate telematics solutions that support emission reduction goals, electronic logging device (ELD) compliance, and improved driver safety technologies.

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Key Insights

• The software segment will account for 55% of the market share in 2024, driven by its adaptability, scalability, and ease of updates and customization. The integration of AI, ML, and data analytics further boosts demand by enabling predictive maintenance and advanced route optimization.
• Services will grow at a CAGR of 15.0%, as rising system complexity increases the need for professional and managed services. Data analytics services are gaining popularity for their ability to convert complex telematics data into actionable insights.
• Under software offerings, key categories include fleet management software, seat belt usage analytics, productivity and compliance software, V2X platforms, and other specialized tools supporting telematics adoption.
• In the propulsion segment, internal combustion engine vehicles will hold a 40% share in 2024, supported by their well-established infrastructure and widespread use across commercial fleets.
• Battery electric vehicles (BEVs) will register the fastest growth due to the rising need to monitor battery health, charging status, and driving range, combined with increasing EV adoption supported by environmental policies.
• Medium & heavy commercial vehicles will dominate the vehicle type segment with a 60% share in 2024, backed by their critical role in logistics, construction, and transportation. These vehicles benefit the most from telematics through enhanced fleet visibility, safety, and compliance.
• OEMs will hold 52% of the market in 2024 and grow at the highest CAGR, as they integrate advanced telematics technologies directly during vehicle manufacturing. This ensures better system reliability, enhanced customer experience, and seamless compatibility.
• North America will remain the largest regional market with a 40% share in 2024, supported by strict safety and emission regulations and strong investment in telematics technologies by automotive companies.
• The Asia-Pacific region will grow the fastest at 17.0%, driven by rapid urbanization, economic expansion, and increasing adoption of fleet optimization tools. With 2.2 billion people (54% of global urban population), rising urban pressures are accelerating the need for commercial vehicles and telematics solutions.
• Key markets within APAC include China (largest), India (fastest growing), Japan, South Korea, and Australia, each benefiting from the region’s strong technological ecosystem.
• Europe shows significant demand, with the U.K. leading in market size and Germany growing at the fastest pace due to technological innovation and advanced logistics industries.
• LATAM continues to expand, with Brazil leading and growing fastest due to rising logistics activities and digital transformation.
• In MEA, Saudi Arabia holds the largest share, while South Africa will register the highest growth, supported by increasing adoption of connected vehicle technologies.
• The market is highly competitive, with major players such as Verizon Connect, Geotab Inc., Trimble Inc., PTC Inc., Microlise, Inseego, Samsara, Octo Telematics, MiX Telematics, and others focusing heavily on integrating IoT, AI, and ML to enhance product performance.
• Recent industry developments include Ford Commercial Solutions (January 2024) expanding its telematics suite for improved fleet insights, and Trimble’s integration with TravelCenters of America (April 2021) enabling better truck maintenance tracking through enhanced scheduling, monitoring, and invoicing features.