About Fleet Telematics Systems
A Fleet telematics system is a combination of telecommunications and informatics that gather data including vehicle location, driver behavior, engine diagnostics, and vehicle activity and visualize this data on software platforms that help fleet operators manage their resources. Generally, it contains a stationary fleet communication system and a mobile vehicle system that enables a commercial vehicle fleet to share information to their central office such as dispatching office. Fleet telematics systems collect valuable data from municipal governments and forestry trucking to general fleets that used to optimize how fleets operate across the world. The technologies used in the fleet telematics systems include in-vehicle devices, wireless data communication networks, satellite data communication networks, GPS, mapping engines and data, vehicle engine computer module, cloud services and internet browsers or mobile apps. In today's world, fleet telematics systems are becoming a standard protocol for numerous industries as it helps to raise customer service standards, increase reliability, boost efficiency and improve revenue. These systems are being used in numerous industries such as construction, transportation, site excavation trucking, taxi companies and car-sharing services, governments and municipalities, researchers, general fleets, utility companies and powertrain manufacturers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 23.18% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that Japan Players will contribute the maximum growth to Global Fleet Telematics Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AT&T Inc. (United States), Geotab Inc. (Canada), Bridgestone Corp. (Japan), Daimler Fleetboard GmbH (Germany), Michelin (France), Samsung Electronics Co. Ltd. (South Korea), Omnitracs LLC (United States), Microlise Group Ltd. (United Kingdom), Trimble Inc. (United States), Continental AG (Geermany) and Verizon Communications Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ActSoft, Inc. (United States) and MiX Telematics (Sout Africa).
Segmentation Overview
AMA Research has segmented the market of Global Fleet Telematics Systems market by , Application (Construction, Transportation, Site Excavation Trucking, General Fleets, Utility Companies, Taxi Companies, Car-Sharing Services, Governments and Municipalities and Powertrain Manufacturers) and Region.
On the basis of geography, the market of Fleet Telematics Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Fleet Type, the sub-segment i.e. Commercial Fleets will boost the Fleet Telematics Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Services, the sub-segment i.e. Professional Services will boost the Fleet Telematics Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solutions, the sub-segment i.e. Performance Management will boost the Fleet Telematics Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. In-Vehicle Devices will boost the Fleet Telematics Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Adoption of Cloud-based and Big Data Analytics Solutions and Increased Penetration of the Internet Worldwide
Market Growth Drivers:
High Benefits of the Fleet Telematics Systems such as Increased Safety, Reduced fuel costs, Minimise Insurance Costs, Decreased Maintenance Costs and Increased Productivity and Increasing Adoption of Fleet Telematics in Various Industries to Raise Customer Service Standards, Boost Efficiency and Improve Revenue
Challenges:
Increased Privacy and Security Threats
Restraints:
Blind Spots in the Network Coverage
Opportunities:
Increasing Adoption of Wireless Technology, Stringent Government Rules and Regulations about Vehicles and Growing Opportunities from Emerging Countries
Market Leaders and their expansionary development strategies
In November 2023, CerebrumX Labs Inc. announced a strategic collaboration with Guidepoint Systems, a global provider of vehicle telematics and Software as a Service (SaaS) for automotive OEMs, dealerships, rental agencies and commercial fleet managers. The joint solution taps the rising demand from fleet companies and dealerships for new data solutions that help reduce costs, improve customer experience, enhance efficiency as well as safety in inventory operations, leading to increased profitability.
In October 2023, Netradyne, Inc., announced the launch of its Driver•I One solution. Driver•i One fleet safety solution is a video telematics device for fleet management. It has AI powered safety features, fleet tracking system, fleet management, and compliance using Geotab’s platform.
Key Target Audience
Fleet Telematics Systems Providers, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.