As per the EU-regulation (EC) No 561/2006 and regulation 1360/2002, which came into complete force in 2007, making it mandatory to install digital tachographs in transport vehicles which carry goods of masses above 3,5 tonnes or carrying more than 9 persons including the driver of the vehicle.
The article cited AMA's "Global Digital Tachograph System Market Study" explored CAGR of %. According to the report, Currently, Commercial Vehicles Accounts for Higher Share in Digital Tachograph System Market is one of the primary growth factors for the market. Enhanced Focus on Driver Safety
is also expected to contribute significantly to the Digital Tachograph System market. Overall, Passenger Vehicles
applications of Digital Tachograph System, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Technology, such as Global Navigation Satellite System, is boosting the Digital Tachograph System market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Component, such as Motion Sensor, is boosting the Digital Tachograph System market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Digital Tachograph System market identified that the demand is rising in many different parts of the world as "Asia Pacific Region Presents Huge Opportunity to Grow because of Presence of Large Automobile Market and Rising Disposable Income in the Region". Furthermore, some recent industry insights like "In 2019, Verizon Connect, a subsidiary of Verizon Communications and developer of fleet management software and transport related digital solutions has announced launch of its new digital tachograph tool which aids the transport fleet managers to track the driving times and rest times of the corresponding drivers." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Digital Tachograph System market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Digital Tachograph System market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Digital Tachograph System market size is calculated using market estimation process, the Digital Tachograph System market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Digital Tachograph System market size has been validated using both top-down and bottom-up approaches.