In 2018, the global IoT Fleet Management market size was 3810 million US$ and it is expected to reach 17500 million US$ by the end of 2025, with a CAGR of 21.0% during 2019-2025.
Dublin, United States – March 15, 2019 —
The key factor propelling the development of IoT fleet management market is the integration of smart devices with vehicles. The advent of the IoT has helped automobiles to connect with smart devices seamlessly, thereby enabling emergency roadside assistance and real-time traffic alerts. The incorporation of IoT with fleet management assists in fuel management, remote diagnostics, routing management, fleet analytics, vehicle maintenance, monitoring and tracking, cost-and time-saving, drive time analysis, and even satisfies the requirements of the client. The rising implementation of smart devices by transportation industries is anticipated to boost the development of the IoT fleet management market over the forecast period.
Routing management accounted for the largest share of the IoT fleet management market, 38.4% in 2016. The growth of this segment can be attributed to rising global road freight traffic and constant R&D activities to develop innovative products. Also, the continuous R&D activities by fleet solution providers to develop advanced products help the fleet companies to provide the shortest and less crowded route to fleet vehicles to avoid unnecessary overtime cost.
The North America region is expected to hold the largest share in the IoT fleet management market, 38% in 2016. The growth of the IoT fleet management market in this region can be attributed to increasing sales of fleet vehicles, high adoption rate of advanced technological products, and regulatory developments by the government.
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The major players who are operating in the IoT fleet management market globally have been profiled thoroughly and competitively in the study across all the give broad geographical regions that are covered under the purview of the report. The competitive analysis of all the market players is inclusive of their recent developments regarding IoT fleet management and the unique business strategies formulized by the companies to compete and retain their position in the global market.
Key Players covered in this report are Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, IBM, Teletrac Navman, TomTom, Oracle, Intel, Cisco Systems, Sierra Wireless.
Report analysed by applications like Routing Management, Tracking and Monitoring, Fuel Management, Remote Diagnostics, Others. Then report is analysed on the basis of product Passenger Vehicles, Commercial Vehicles.
Likewise, the growing participation of government by integrating regulations on fleet security and safety is anticipated to boost the development of the IoT fleet management market. But, the lack of IoT infrastructure in emerging countries may hinder the development of the market. The lack of technically knowledgeable workforce and poor internet connectivity are some other aspects that can negatively affect the development of the market during the forecast period. The growing collaboration and partnerships among the major players in the IoT fleet management market are anticipated to create huge opportunities for the market globally.
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The IoT Fleet Management Market report provides key statistics on the market status of the IoT Fleet Management manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
Major Points Covered in Table of Contents:
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
6 North America
8 Asia Pacific
9 Central & South America
10 Middle East and Africa
11 Company Profiles
12 Market Opportunities, Challenges, Risks and Influences Factors Analysis
13 Value Chain and Sales Channels Analysis
14 Research Findings and Conclusion
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This news is published on Reuters.