Chicago, July 31, 2024 (GLOBE NEWSWIRE) -- The Commercial Vehicle Telematics Software Market is estimated to be worth USD 5.2 billion in 2023 and is projected to reach USD 10.3 billion by 2028 at a CAGR of 14.3% during the forecast period, according to a new report by MarketsandMarkets™. Browse in-depth TOC on "Commercial Vehicle Telematics Software Market" 295 - Tables 70 - Figures 405 - Pages Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=22050839 Commercial Vehicle Telematics Software Market Dynamics: Drivers: Increasing need for efficient fleet management Rising demand for reduced fuel consumption and vehicle downtime Increasing regulatory mandates to improve safety & security of vehicles and passengers Growing awareness of predictive maintenance Restraints: Dependence on fluctuating vehicle demand Integration complexity of telematic solutions High initial cost of implementing telematics systems Opportunities: Potential of V2X communication and autonomous driving integration Integration of advanced analytics & AI-powered insights with telematics software Expansion of transportation and logistics industry New revenue stream offered by ELD mandate for existing vendors List of Key Players in Commercial Vehicle Telematics Software Market: Verizon Connect (US) Geotab (Canada) Trimble (US) Omnitracs (US) TomTom (Netherlands)  Motive (US) Nauto (US) Fleetx.io (India) Onfleet (US) Vontier (US) Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=22050839 The surge in the adoption of commercial vehicle telematics solutions can be attributed to increasing regulatory mandates to improve safety and security of the vehicle and passengers. Telematics systems play a crucial role in monitoring factors such as driver fatigue, vehicle maintenance, and compliance with speed limits, contributing to overall road safety. Additionally, Growing demand for effective fleet administration, coupled with increasing need for decreased fuel usage and minimized vehicle downtime, are key factors fueling the increasing demand for commercial vehicle telematics solutions. Businesses are recognizing the value of telematics solutions in improving operational efficiency, reducing costs, ensuring safety and compliance, and enhancing overall fleet management capabilities. Artificial Intelligence ...