Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Commercial Telematics Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the information technology industry. This report breaks down the data and analysis behind the procurement of commercial telematics solutions and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Commercial Telematics Procurement Market Intelligence Report (Graphic: Business Wire)
"The growth of the commercial telematics market can be attributed to the growing demand for UBI offerings, integrated in-vehicle infotainment systems, fleet management, and value-added services," says SpendEdge procurement research analyst Bhuvaneshwari Udayakumar. "Globally automotive OEMs, logistics and transportation companies, and insurance firms are the key buyers of commercial telematics solutions," added Bhuvaneshwari.
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Key Report Features
Supply Market Insights | Negotiation Strategies | ||
Procurement Best Practices | Category Risk Analysis | ||
Cost Saving Opportunities | Key Supplier Analysis | ||
Pricing Models | Supplier Capability Matrix | ||
Report Insights
- The need to improve the operational efficiency and road safety in transportation is a major factor driving the procurement of commercial telematics solutions. The suppliers focus on the incorporation of latest technologies such as big data analytics as it helps to predict the failure of components in vehicles. This market is expected to grow rapidly over the forecast period due to rise in trade and logistics, e-commerce, and demand for connected vehicles across geographies.
- The buyers should assess suppliers' collaboration with supply chain partners prior to engaging with them. They prefer to collaborate with various supply chain stakeholders of commercial telematics solutions to utilize their capabilities to maximum potential. Also, the collaboration of telematics solution suppliers with motor insurers offering UBI-based on integrated connectivity creates scope for premium reduction based on the usage of fleet vehicles.
- One of the key challenges faced by buyers in this market includes challenges related to employee incompetence and reluctance. Effective implementation of telematics solution in an organization depends on the level of acceptance by its employees. Hence, it is necessary to include the employees in the decision-making process and take continuous measures to train and counsel them.
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Commercial Telematics Market: Pricing Trends
The subscription-based pricing model and perpetual license-based pricing are the two pricing models prevalent in this market. The subscription-based pricing model is the most-widely adopted pricing model in the global commercial telematics industry due to the transparency it offers and the absence of huge upfront costs required to buy the solutions. The perpetual-licensing based model offers a high level of privacy for buyers' data as suppliers have no direct contact with the data.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
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