Artificial Intelligence
Global Commercial Vehicle Telematics Market (2020 to 2025) – Transition from Vehicle Ownership to MaaS Presents Opportunities
Dublin, Oct. 15, 2020 (GLOBE NEWSWIRE) — The “Commercial Vehicle Telematics Market – A Global Market and Regional Analysis: Focus on Commercial Vehicle Telematics Product and Application, Supply Chain Analysis, and Country Analysis – Analysis and Forecast, 2019-2025” report has been added to ResearchAndMarkets.com’s offering.
The growing importance of connectivity and safety, advancement in smartphone technology, and high-speed internet connectivity have largely transformed the telematics industry. The original equipment manufacturers (OEMs) are increasingly incorporating advanced telematics services in all the commercial vehicle categories owing to the system’s multiple benefits, thereby driving the adoption of automotive telematics.
The global commercial vehicle telematics market accounted for $4.86 billion in 2019 and is expected to reach $5.93 billion by 2025. The market is anticipated to grow at a CAGR of 7.92% during the forecast period 2020 to 2025. The global commercial vehicle telematics market is driven by factors such as increasing safety and security regulations, rising disposable income, lower cost of connectivity, and increased market penetration rate of smartphones.
The rising hacking and privacy concerns, and low awareness regarding telematics are some of the factors that are hampering the overall market growth. However, the growing demand for connected cars, increased adoption of telematics in the insurance industry, and the growth of emerging economies such as India and China are some of the factors that are expected to fuel the market growth in the forecast period.
Competitive Landscape
Some of the strategies adopted by the companies are new product launches, business expansions, and partnerships and collaborations. Among all the strategies adopted, partnerships and collaborations and product launches have been the leading choices implemented in the competitive landscape. Geotab, CalAmp, Masternaut, Trimble are some of the leading players in the global commercial vehicle telematics market. The industry landscape is quite competitive because of the large number of players in the market. Therefore, innovation and development have been the key factors for large-scale growth in this market. The manufacturers are expanding their businesses and are also entering into strategic partnerships to increase their customer base and overall global footprint.
Growth Drivers
- Stringent Government Rules and Regulations Regarding Vehicular and Passenger Safety
- Increasing Connectivity in Commercial Vehicles
- Increasing Focus on Vehicle Platooning
Market Challenges
- Rise in Cyber Threats due to Increased Data
- Low Consumer Acceptance in Developing Region
Market Opportunities
- Transition from Vehicle Ownership to MaaS
- Growing Popularity of Telematics based Insurance and Fleet Management
Key Questions Answered in this Report:
- What are the underlying structures resulting in the emerging trends within the commercial vehicle telematics market?
- How is the commercial vehicle telematics market impacted by the introduction of autonomous and connected vehicles?
- How are commercial vehicle manufacturers, telematics providers, and other players entering the market?
- How are emerging technologies such as artificial intelligence (AI), 5G Communication, and the Internet of Things (IoT) driving the growth of the commercial vehicle telematics market?
- Which are the major patents filled in the space?
- How is the role of government regarding environmental issues and safety changing the landscape of the commercial vehicle telematics industry?
- What were the market values of the leading segments and sub-segments of the commercial vehicle telematics market in 2019, and how is the market estimated to grow during the forecast period 2020-2025?
- How is the industry expected to evolve during the forecast period 2020-2025?
- What are the key developmental strategies implemented by the key players to sustain in the competitive market?
- What has been the impact of COVID-19 on the commercial vehicle telematics market?
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Telematics Overview
1.1.1.1 Telematics-Based Services
1.1.1.1.1 Information and Navigation
1.1.1.1.2 Safety and Security
1.1.1.1.3 Entertainment
1.1.1.1.4 Remote Diagnostics
1.1.1.2 Evolution of Automotive Telematics
1.1.1.3 Commercial Vehicle Telematics Insurance
1.1.2 Trends: Current and Future
1.1.2.1 5G: The Next Generation of Connectivity
1.1.2.2 Telematics Data Analytics
1.1.2.3 Truck Platooning
1.1.2.4 Emergence of Connected and Autonomous Vehicles
1.1.3 Ecosystem Participants
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Stringent Government Rules and Regulations Regarding Vehicular and Passenger Safety
1.2.1.2 Increasing Connectivity in Commercial Vehicles
1.2.1.3 Increasing Focus on Vehicle Platooning
1.2.2 Business Challenges
1.2.2.1 Rise in Cyber Threats due to Increased Data
1.2.2.1.1 Low Consumer Acceptance in Developing Regions
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Transition from Vehicle Ownership to MaaS
1.2.5.2 Growing Popularity of Telematics-based Insurance and Fleet Management
2 Application
2.1 Application and Specification
2.1.1 Light Commercial Vehicles
2.1.2 Heavy Trucks
2.1.3 Heavy Buses
2.2 Demand Analysis of Commercial Vehicle Telematics (by Application)
2.2.1 Light Commercial Vehicle
2.2.1.1 Demand Analysis of Light Commercial Vehicle Telematics Market (by Region)
2.2.2 Heavy Trucks
2.2.2.1 Demand Analysis of Heavy Trucks Telematics Market (by Region)
2.2.3 Heavy Buses
2.2.3.1 Demand Analysis of Heavy Buses Telematics Market (by Region)
3 Products
3.1 Products and Specification
3.1.1 Hardware
3.1.2 Software
3.2 Demand Analysis of Commercial Vehicle Telematics (by Product)
3.2.1 Hardware
3.2.1.1 Demand Analysis of Commercial Vehicle Telematics Hardware Market (by Region)
3.2.2 Software
3.2.2.1 Demand Analysis of Commercial Vehicle Telematics Software Market (by Region)
3.3 Demand Analysis of Global Commercial Vehicle Market (by Mode of Sales)
3.3.1 Original Equipment Manufacturer (OEM)
3.3.2 Aftermarket
3.4 Qualitative Analysis of Commercial Vehicle Telematics Market by Connectivity
3.4.1 Cellular-Based CV Telematics Market
3.4.2 3G
3.4.3 4G
3.4.4 Others
3.4.5 Satellite-Based CV Telematics Market
3.5 Qualitative Analysis of Commercial Vehicle Telematics Market by Device Type
3.5.1 Hardwired
3.5.2 On-board Device (OBD)
3.5.3 Smartphone
3.5.4 Embedded
4 Region
4.1 North America
4.2 South America
4.3 Europe
4.4 U.K.
4.5 Middle East and Africa
4.6 China
4.7 Asia-Pacific & Japan
5 Markets – Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Trimble Inc.
5.2.1 Company Overview
5.2.2 Product Portfolio
5.2.2.1 Production Sites
5.2.3 Corporate Strategies
5.2.4 R&D and Patent Analysis
5.2.5 Competitive Position
5.2.5.1 Strength of the Company
5.2.5.2 Weakness of the Company
5.3 Geotab
5.3.1 Company Overview
5.3.2 Product Portfolio
5.3.2.1 Production Sites
5.3.3 Business Strategies
5.3.3.1 Product Developments
5.3.4 Corporate Strategies
5.3.4.1 Partnership and Collaboration
5.3.5 R&D and Patent Analysis
5.3.6 Competitive Position
5.3.6.1 Strength of the Company
5.3.6.2 Weakness of the Company
5.4 Masternaut Limited.
5.4.1 Company Overview
5.4.2 Product Portfolio
5.4.3 Business Strategies
5.4.3.1 Product Developments
5.4.4 Corporate Strategies
5.4.4.1 Partnership and Collaboration
5.4.5 Competitive Position
5.4.5.1 Strength of the Company
5.4.5.2 Weakness of the Company
5.5 Microlise Telematics Pvt. Ltd.
5.5.1 Company Overview
5.5.2 Product Portfolio
5.5.3 Competitive Position
5.5.3.1 Strength of the Company
5.5.3.2 Weakness of the Company
5.6 Verizon Communications, Inc.
5.6.1 Company Overview
5.6.2 Product Portfolio
5.6.3 Business Strategies
5.6.3.1 Product Developments
5.6.4 Corporate Strategies
5.6.4.1 Partnership and Collaboration
5.6.5 Competitive Position
5.6.5.1 Strength of the Company
5.6.5.2 Weakness of the Company
5.7 Omnitracs, LLC
5.7.1 Company Overview
5.7.2 Product Portfolio
5.7.3 Corporate Strategies
5.7.3.1 Partnership and Collaboration
5.7.4 Competitive Position
5.7.4.1 Strength of the Company
5.7.4.2 Weakness of the Company
5.8 TomTom International BV.
5.8.1 Company Overview
5.8.2 Product Portfolio
5.8.3 Business Strategies
5.8.3.1 Product Developments
5.8.4 Competitive Position
5.8.4.1 Strength of the Company
5.8.4.2 Weakness of the Company
5.9 Zonar Systems
5.9.1 Company Overview
5.9.2 Product Portfolio
5.9.3 Competitive Position
5.9.3.1 Strength of the Company
5.9.3.2 Weakness of the Company
5.10 Qualcomm Inc.
5.10.1 Company Overview
5.10.2 Product Portfolio
5.10.3 Competitive Position
5.10.3.1 Strength of the Company
5.10.3.2 Weakness of the Company
5.11 Intel Corporation
5.11.1 Company Overview
5.11.2 Product Portfolio
5.11.3 Competitive Position
5.11.3.1 Strength of the Company
5.11.3.2 Weakness of the Company
5.12 Volkswagen AG
5.12.1 Company Overview
5.12.2 Product Portfolio
5.12.3 Corporate Strategies
5.12.3.1 Partnership and Collaboration
5.12.4 Competitive Position
5.12.4.1 Strength of the Company
5.12.4.2 Weakness of the Company
5.13 Octo Group S.p.A
5.13.1 Company Overview
5.13.2 Product Portfolio
5.13.3 Global Offices
5.13.4 Business Strategies
5.13.4.1 Product Developments
5.13.4.2 Corporate Strategies
5.13.4.2.1 Partnerships, Collaborations and Joint-Ventures
5.13.4.3 Competitive Position
5.13.4.3.1 Strengths
5.13.4.3.2 Weaknesses
5.14 Volvo Trucks
5.14.1 Company Overview
5.14.2 Product Portfolio
5.14.3 Competitive Position
5.14.3.1 Strength of the Company
5.14.3.2 Weakness of the Company
5.15 CalAmp Corp.
5.15.1 Company Overview
5.15.2 Product Portfolio
5.15.3 Business Strategies
5.15.3.1 Product Developments
5.15.4 Corporate Strategies
5.15.4.1 Partnership and Collaboration
5.15.5 Competitive Position
5.15.5.1 Strength of the Company
5.15.5.2 Weakness of the Company
5.16 Other Companies Operating in the Ecosystem
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/tuqyyh
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Artificial Intelligence
LG STRENGTHENS EUROPEAN PRESENCE WITH ITS KITCHEN SOLUTIONS SHOWCASE AT MDW 2024
Featuring Advanced AI Technologies and Sleek Design, Company’s Expanded Lineup of Built-in Appliances Brings Outstanding Convenience and Style to the Kitchen
SEOUL, South Korea, April 18, 2024 /PRNewswire/ — LG Electronics (LG) is unveiling its latest built-in kitchen appliances at Milan Design Week (MDW) 2024, taking place in Milan, Italy, from April 16-21. At the center of LG’s Milan showcase are the brand-new Signature Kitchen Suite built-in oven, free zone induction hob, and downdraft hood. Boasting innovative, premium design and highly-convenient features, the company’s refined built-in solutions bring exceptional ease-of-use and effortless elegance to the kitchen.
Signature Kitchen Suite Built-in Oven with Advanced Cooking Technologies
Debuting at MDW 2024 and designed with European consumers in mind, the Signature Kitchen Suite 60-centimeter (24-inch) built-in oven offers a variety of cutting-edge features and AI technologies to elevate the culinary experience. Equipped with Gourmet AI™️, the oven can identify what the user is cooking and automatically select the appropriate cooking mode from 130 recipes. Gourmet AI also enables ‘browning’ control for foods such as pizza and steak, actively keeping tabs on the cooking process and notifying users via the ThinQ™️ app as soon as their food is done. Thanks to video-recognition, LG’s intelligent oven can suggest the optimal settings for the dish being prepared, while real-time video monitoring and time-lapse recording make it easy to check on the progress of one’s meal using the ThinQ app.
Employing enhanced ProBake powered by inverter technology, the new oven delivers uniform heat and fast, efficient cooking with an A++ energy rating. LG’s innovative technology rotates the convection fan back and forth to ensure shorter preheating times, even heating, and crispier results when using the oven’s Air Fry mode. The company’s unique InstaView™️ technology further enhances user convenience, making it possible to see inside simply by knocking twice on the oven door.
Free Zone Induction Hob for Convenient and Flexible Cooking
The Signature Kitchen Suite’s 90-centimeter (36-inch) free zone induction hob presents next-level flexibility and ease-of-use, allowing users to place any size and type of cookware – such as Paella pans and moka pots – anywhere on its cooking surface.* The new appliance can detect and track the position of cookware, eliminating the need to manually cancel and reapply settings when moving a saucepan or skillet from one part of the cooking surface to another. What’s more, the AI technology embedded in the hob can detect the temperature of cookware and automatically lower the heat when necessary, helping to minimize spills and splatter when boiling water or preparing soups and sauces.
Expanded Built-in Lineups for Diverse Kitchen Lifestyles
LG is further bolstering its built-in product lineup with the introduction of the new Signature Kitchen Suite downdraft hood. Made to integrate seamlessly into islands and countertops, the 90-centimeter (36-inch) hood offers a sleek, sophisticated look with its chic black glass and modern frame design. It also provides powerful ventilation, effectively extracting steam and odors for a more pleasant cooking experience.
Additionally, LG has expanded its portfolio of built-in appliances for the European market. Along with new products, such as an 80-centimeter (30-inch) induction hob and built-in combi refrigerators and microwave ovens, the company now provides a wider range of options within its oven lineups – from more product variation to a greater choice of colors and sizes. Among the new models are the Signature Kitchen Suite 122 centimeter (48 inch)-wide French-door refrigerator and stunning appliances from the Transitional lineup, featuring slim handles and satin stainless steel exteriors with a velvety matte finish. To help customers create a curated kitchen aesthetic, the company offers an array of new finishes for its premium built-in products, with black stainless steel and stainless steel joining the previously-introduced black glass finish.
“We are thrilled to showcase our latest built-in innovations at this year’s Milan Design Week, demonstrating our commitment to leading new design trends and meeting the diverse needs of European customers,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG will continue to strengthen its presence in Europe through an expanded range of built-in appliances delivering style, performance and convenience in the kitchen.”
Visitors to MDW 2024 in Milan from April 16-21 can experience LG’s latest built-in lineups at the LG booth at Milan Fairgrounds.
* Cookware recognition may vary depending on the size or number of items placed on the surface.
About LG Electronics Home Appliance & Air Solution Company
The LG Home Appliance & Air Solution Company is a global leader in home appliances, air solutions as well as smart home solutions featuring LG ThinQ. The company is creating various solutions with its industry leading core technologies and is committed to making life better and sustainable for consumers and the planet by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LGnewsroom.com.
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Artificial Intelligence
DataTracks Celebrates Completion of 19 Years
SINGAPORE, April 18, 2024 /PRNewswire/ — DataTracks, a provider of cloud-based software to automate/generate compliance reports for filing with financial/security regulators to more than 28,000 business enterprises in 26 countries, celebrates the completion of 19 years of service and innovation. Founded with a vision to make regulatory compliance “accurate, reliable, timely, and easy”, DataTracks has grown into a leading name in the industry, worldwide with cutting edge software that incorporates “artificial intelligence” aided features to reduce “time to prepare” and improve “accuracy”.
Decades of Dedication and Expertise
Over nearly two decades, DataTracks has achieved significant growth, with its software delivering more than 400,000 reports, showcasing its pivotal role in regulatory reporting. The software and service address regulations across diverse jurisdictions, including SEC in the USA, HMRC and FCA in the UK, Revenue in Ireland, CIPC in South Africa, ACRA in Singapore, MCA in India, SSM in Malaysia and ESMA, EBA, and EIOPA in Europe.
DataTracks distinguishes itself in the industry
(a) with its global footprint (preferred by business enterprises whose regulatory obligations are spread across multiple jurisdictions)
(b) with its state-of-the art software that incorporates “AI/ML” features and
(c) with its credentials for information security (including ISO 9001:2015 and ISO 27001:2013 certifications)
Addressing the employees and spouses in a town hall meeting to celebrate the event, Vinod P John, President of DataTracks said: “We are happy to start our 20th year in the industry. I have to thank the 28,000 clients who trust us and the several hundred employees who developed our software and who helped customers (and our internal team) prepare compliance reports for reaching this milestone. We’ve always believed in leveraging technology to make regulatory compliance as easy, quick, timely, and accurate as possible for our clients. Our continuous investment in AI and machine learning is a testament to this belief, and it’s what keeps us at the forefront of the industry.”
Looking ahead, DataTracks is ready to address upcoming mandates such as the DATA Act and FTA in the US as well as the MBRS/XBRL mandate by SSM in Malaysia.
About DataTracks
DataTracks is a Singapore-based globally renowned leader in providing cloud-based regulatory compliance software for self-use and “black box services” using the same software, catering to 28,000 clients across 26 countries. In 19 years DataTracks has helped its client enterprises prepare more than 400,000 compliance reports for filing with financial/security regulators in several jurisdictions. Financial analysts have rated the quality of reports generated using DataTracks as top of industry for quality; significantly above that of several of its competitors. For further information, visit www.datatracks.com.
For Business Enquiries: Email: [email protected]; Phone: Singapore: +6531582850, US: +1(646)9048324, UK: +44(0)2036088035
Media Contact: [email protected]
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Artificial Intelligence
SAS advances industry solutions with packaged AI models
Tailored, lightweight AI models facilitate rapid deployment with low overhead
LAS VEGAS, April 17, 2024 /PRNewswire/ — SAS INNOVATE — Today at SAS Innovate, SAS – a pioneer in data and AI solutions – unveiled a game-changing approach for organizations to tackle business challenges head-on. Introducing lightweight, industry-specific AI models for individual license, SAS is equipping organizations with readily deployable AI technology to productionize real-world use cases with unparalleled efficiency.
AI software provider SAS is uniquely positioned to flex its decades of expertise in applying scalable and trustworthy AI models for prominent global financial, health care, and manufacturing brands, as well as government institutions.
“SAS is evolving its portfolio to meet wider user needs and capture market share with innovative new offerings,” said Chandana Gopal, Research Director, Future of Intelligence, IDC. “An area that is ripe for SAS is productizing models built on SAS’ core assets, talent and IP from its wealth of experience working with customers to solve industry problems.”
In today’s market, the consumption of models is primarily focused on large language models (LLMs) for generative AI. In reality, LLMs are a very small part of the modeling needs of real-world production deployments of AI and decision making for businesses. With the new offering, SAS is moving beyond LLMs and delivering industry-proven deterministic AI models for industries that span use cases such as fraud detection, supply chain optimization, entity management, document conversation and health care payment integrity and more.
Unlike traditional AI implementations that can be cumbersome and time-consuming, SAS’ industry-specific models are engineered for quick integration, enabling organizations to operationalize trustworthy AI technology and accelerate the realization of tangible benefits and trusted results.
Expanding market footprintOrganizations are facing pressure to compete effectively and are looking to AI to gain an edge. At the same time, staffing data science teams has never been more challenging due to AI skills shortages. Consequently, businesses are demanding agility in using AI to solve problems and require flexible AI solutions to quickly drive business outcomes. SAS’ easy-to-use, yet powerful models tuned for the enterprise enable organizations to benefit from a half-century of SAS’ leadership across industries.
Delivering industry models as packaged offerings is one outcome of SAS’ commitment of $1 billion to AI-powered industry solutions. As outlined in the May 2023 announcement, the investment in AI builds on SAS’ decades long focus on providing packaged solutions to address industry challenges in banking, government, health care and more.
“Models are the perfect complement to our existing solutions and SAS Viya platform offerings and cater to diverse business needs across various audiences, ensuring that innovation reaches every corner of our ecosystem,” said Udo Sglavo, Vice President for AI and Analytics, SAS. “By tailoring our approach to understanding specific industry needs, our frameworks empower businesses to flourish in their distinctive environments.”
Bringing AI to the massesSAS is democratizing AI by offering out-of-the-box, lightweight AI models – making AI accessible regardless of skill set – starting with an AI assistant for warehouse space optimization. Leveraging technology like large language models, these assistants cater to nontechnical users, translating interactions into optimized workflows seamlessly and aiding in faster planning decisions.
“SAS Models provide organizations with flexible, timely and accessible AI that aligns with industry challenges,” said Sglavo. “Whether you’re embarking on your AI journey or seeking to accelerate the expansion of AI across your enterprise, SAS offers unparalleled depth and breadth in addressing your business’s unique needs.”
The first SAS Models are expected to be generally available later this year. Learn more about SAS Applied AI and Modeling here: https://blogs.sas.com/content/tag/applied-ai-modeling/.
Today’s announcement was made at SAS Innovate, the data and AI experience for business leaders, technical users and SAS Partners. Keep up with the latest news from SAS by following @SASsoftwareNews on X/Twitter.
About SASSAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®.
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2024 SAS Institute Inc. All rights reserved.
Editorial Contact:Jennifer [email protected] 202-210-4180 sas.com/news
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