The global smart fleetmanagement 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.
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Research : 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.
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Research: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
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
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release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-smart-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.
