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.
Full
research report on internet of things (IoT) fleet management market
analysis: 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.
View more reports of
this category by Grand View Research at: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
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 Full
Press Release of this Report: 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 headquart ered 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.
For more
information: https://www.grandviewresearch.com/
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