The global internet of things (IoT) fleet management market size is expected to
touch USD 16.86 billion by 2025, according to a new report by Grand View
Research, Inc., exhibiting a CAGR of 20.8% during the forecast period.
Introduction of vehicular internet connectivity has triggered the rate of
adoption for IoT fleet management. IoT fleet management includes various
solutions such as vehicle tracking & monitoring, fleet analytics, fuel
management, predictive maintenance, remote diagnostics, and driver performance
tracking & monitoring. These solutions enable fleet operators to not only
increase their operational efficiency but also assist them in reducing
expenses.
For
the IoT technology to work successfully, seamless connectivity is one of the
most important prerequisites. Presence of strong wireless connectivity infrastructure
in regions such as North America and Europe has facilitated the widespread
adoption of IoT fleet management. Hence, it is anticipated that these regional
markets will witness remarkable growth in coming years. Additionally, domicile
of prominent IoT technology companies such as AT&T, Cisco Systems, Inc.,
Intel Corporation, Verizon, and IBM is estimated to foster the growth prospects
for the market.
While
rising number of IoT devices are stoking market growth, there has also been
significant concerns over data privacy and security. As there has been a
significant increase in cyber-attacks around the world over the past few years,
the need to safeguard end users from a potential attack is likely to play an
important role in determining the growth of the IoT fleet management market.
Access Research Report of Internet of Things
(IoT) Fleet Management Market @ https://www.grandviewresearch.com/industry-analysis/internet-of-things-iot-fleet-management-market
Further key findings
from the study suggest:
· Device management is
the fastest growing platform at a CAGR of 21.7% during the forecast period.
Need for managing the rising number of connected IoT devices is playing a
pivotal role in the growth of the segment
· As
managed services play a significant role in managing, monitoring, and reducing
the operational cost of the complex Internet of things fleet management eco
system, the segment is poised to register the highest CAGR of 22.0% during the
same period
· Benefits
such as low cost and higher flexibility are projected to drive the hybrid cloud
deployment segment. The segment is expected to experience the fastest growth
over the forecast period
· Booming
e-commerce market in countries such as India and China has created the demand
for efficient transportation systems. Thus, the Asia Pacific IoT fleet
management market is anticipated to be the most promising region over the
forecast period
· Some
of the prominent industry participants operating in the market are AT&T;
Cisco Systems, Inc.; Verizon; Trimble Inc.; Intel Corporation; IBM; Omnitracs;
Tomtom International BV; Sierra Wireless; and Telefónica.
Grand
View Research has segmented the global Internet of things (IoT) fleet
management market report on the basis of platform, service, cloud deployment,
solution, application, and region:
IoT Fleet Management Platform Outlook
(Revenue, USD Million, 2014 - 2025)
·
Device
Management
·
Application
Enablement
·
Network
Management
IoT Fleet Management Service Outlook
(Revenue, USD Million, 2014 - 2025)
·
Professional
·
Managed
IoT Fleet Management Cloud Deployment
Outlook (Revenue, USD Million, 2014 - 2025)
·
Private
·
Public
·
Hybrid
IoT Fleet Management Solution Outlook
(Revenue, USD Million, 2014 - 2025)
·
Driver
Tracking & Monitoring
·
Fleet
Analytics
·
Fuel
Management
·
Predictive
Maintenance
·
Remote
Diagnostics
·
Vehicle
Tracking &
Monitoring
IoT Fleet Management Application Outlook
(Revenue, USD Million, 2014 - 2025)
·
Commercial
Vehicles
·
Passenger
Cars
IoT Fleet Management Regional Outlook
(Revenue, USD Million, 2014 - 2025)
·
North
America
o U.S.
o Canada
·
Europe
o U.K.
o Germany
·
Asia
Pacific
o China
o India
o Japan
·
Latin
America
o Mexico
·
Middle
East & Africa (MEA)
Access
Press Release of Internet of Things (IoT) Fleet Management Market@ https://www.grandviewresearch.com/press-release/global-internet-of-things-iot-fleet-management-market
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.
