The global Smart Fleet Management market was estimated to be US$ 293 billion in 2019, it is expected to expand at a CAGR of 6.7% between 2021 and 2030. Fleet management has been adopted for a better part of the past century in the forms of manual logs, and electronic devices.
The size of commercial fleets has increased significantly during past couple of decades, creasing a demand for more sophisticated and advanced fleet management solutions. Smart fleet management is a combination of enhanced data collection, monitoring and analytics solutions to derive actionable insights regarding the fleet of commercial vehicles. Commercial vehicles have widely been used for freight movement globally across wide range of industries.
Advancement in transportation and logistics and expansion of fleet size has challenged the fleet managers to optimally operate fleets. This has contributed towards the evolution of fleet management solutions and is driving the growth of the global smart fleet management market. With rapid urbanization and advancement in technology, the fleet monitoring is evolving to improve the performance of fleet movement and increased profit margins.
Smart fleet management solutions facilitate real time tracking and monitoring of fleets with the help of advanced electronic and IT tools. It offers real time location tagging, vehicle performance monitoring, driver or pilot behavior, vehicle maintenance history, vehicle document management, storage of trip data, and so on.
The data associated with vehicle and trip is used to derive inferences that helps in improving the efficiency of fleet operations. With increased emphasis on emission reduction, and energy conservation, the smart fleet management solutions are expected to witness prominent growth during the forecast period. However, disruption in logistics and decline in new commercial vehicle deliveries across the globe due to COVID-19 pandemic is anticipated to impede the growth of the global smart fleet management solutions market during coming years.
North America contributed a dominating share to the global smart fleet management market in 2019 owing to increased investment in development of advanced and scalable smart fleet management solutions. Increased demand for on-road fleets and adoption of smart fleet management solution is anticipated to drive North America market growth during the forecast period.
Asia Pacific smart fleet management market is expected to offer lucrative opportunities to the solution developers during the forecast period owing to expanding transportation and logistics industry across major countries such as China, Japan, and India.
Rising adoption of advanced telematics solutions, increased investment in emission reduction technology development and changing dynamics of manufacturing supply chain across the region is anticipated to contribute towards the growth of the Asia Pacific smart fleet management market during the forecast period.
Smart Fleet Management Market Share Analysis, by Geography (2022)
The report titled “Smart Fleet Management Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is hithe storic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global smart fleet management market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global smart fleet management market is segmented based on mode of transportation, applications, connectivity, and geography. Based on mode of transportation, the global smart fleet management market is segmented into roadways, marine, railways, and airways. Based on applications, the global smart fleet management market is segmented into tracking, remote diagnostics, advanced driver assistance system (ADAS), optimization, and others. Based on connectivity, the global smart fleet management market is segmented into short range communication, long range communication, and cloud. Based on geography, the global smart fleet management market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on smart fleet management. Further, market share of prominent companies in the global smart fleet management market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the smart fleet management companies.
The global smart fleet management market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the smart fleet management business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global smart fleet management market.
Major players active in the global smart fleet management market include Cisco Systems, Inc., Continental AG, Denso Corporation, Globecomm (Speedcast International Limited.), IBM, Infineon Technologies AG, Precious Shipping Public Company Limited, Robert Bosch GmbH, Siemens AG, Sierra Wireless, Tech Mahindra, and Zonar Systems, Inc.
Segmentation:
By Mode of Transportation:
By Application:
By Connectivity:
By Geography:
The global Smart Fleet Management market was worth US$ 293 billion in 2020.
The global Smart Fleet Management market is expected to register a CAGR of 6.7% between 2022 and 2032.
Major players active in the global smart fleet management market include Cisco Systems, Inc., Continental AG are few prominent players active in the market.
Smart Fleet Management are largely used in the Tracking, Remote Diagnostics, Advanced Driver Assistance System (ADAS) and Optimization.
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