The global smart fleet management market size is expected to reach USD 565.1 billion by 2025,
according to a study conducted by Grand View Research, Inc. The market is
anticipated to register a CAGR of 7.6% from 2017 to 2025. Introduction of
vehicular communication technologies has increased the adoption of smart fleet
management solutions, which enable vehicle tracking and monitoring, fleet
analytics, fuel management, predictive maintenance, remote diagnostics, and
driver performance tracking and monitoring, among others. This enables fleet
operators of all sizes to incorporate smart technologies to increase their
operational efficiency, enhance productivity, and enable varied cost savings.
Government agencies are investing in intelligent transport systems and
mandating the use of connected technologies for all vehicles to enhance driver
and road safety, reduce carbon emissions, and efficiently manage traffic
congestions.
For connected technologies to work
successfully, it is of utmost importance that there be seamless connectivity.
In regions such as North America and Europe, there is ubiquitous presence of
strong wireless connectivity infrastructure and this has facilitated widespread
investment in telematics solutions among fleet operators. Additionally,
presence of prominent industry players such as Cisco Systems, Inc.; IBM
Corporation; Continental AG; Sierra Wireless; Zonar Systems, Inc.; and Orbcomm,
Inc. is estimated to foster growth prospects for the smart fleet management
market.
On the down side, advancements in
networking technologies enabling a connected environment will pose significant
concerns over data privacy and data security. Lack of network infrastructure in
developing regions, complexity of deployment, and high initial capital
requirements are also expected to hinder the growth of the smart fleet
management market.
Access Research Report of Smart Fleet Management Market@ https://www.grandviewresearch.com/industry-analysis/smart-fleet-management-market
Further key findings from the study suggest:
· By transportation, the automotive segment
will register the fastest growth during the forecast period, exhibiting a CAGR
of 8.2%. Autonomous vehicles, telematics, and vehicular communications will
drive this segment
· In terms of hardware, ADAS systems are
expected to dominate the global smart fleet management market owing to
increasing government regulations and initiatives to ensure safety
· Low cost, flexibility, and scalability are
expected to drive the cloud connectivity segment. The segment is expected to
expand at a CAGR of 8.8% over the forecast period
· Demand for efficient transportation, rising
demand for premium fleets, and implementation of strict government regulations
are expected to bolster the growth of the APAC market
· Cisco Systems, Inc.; Continental AG; IBM
Corporation; Siemens AG; Robert Bosch GmbH; Tech Mahindra; Sierra Wireless; and
Zonar Systems, Inc. are some of the major players in the market.
Grand View Research has segmented the
global smart fleet management market on the basis of transportation, hardware,
connectivity, and region:
Smart Fleet Management Transportation
Outlook (Revenue, USD Billion, 2014 - 2025)
·
Automotive
·
Rolling Stock
·
Marine
Smart Fleet Management Hardware Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Tracking
·
Remote Diagnostics
·
ADAS
·
Optimization
Smart Fleet Management Connectivity Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Short Range Communication
·
Long Range Communication
·
Cloud
Smart Fleet Management Regional Outlook
(Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Rest of World (RoW)
o
Brazil
o
Mexico
o
Others
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
