IoT Fleet Management Market Scope
Fleet management is a function that supports companies involved in transportation business to reduce or remove the risk related with productivity, increase efficiency, vehicle investment, as well as also offers compliance with government legislation. Fleet management also benefits to reduce the cost related with transportation by enhancing cost & efficiency in fleet operations. The addition of the IoT in the fleet management system purposes at improving the business opportunities. IoT solutions in the fleet management are likely to improve the supply-chain visibility, process-chain monitoring, & much more. Key factor driving the growth of global IoT fleet management market is the incorporation of smart devices with vehicles. The emergence of the IoT has made possible the automobiles to flawlessly connect with the smart devices, so making possible real-time traffic alerts as well as emergency roadside assistance. This is likely to boost the market growth over near future.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Unit | Value (USD Billion) |
Key Companies Profiled | Trimble, Inc. (United States), Omnitracs (United States), Fleetmatics (Verizon) (United States), AT&T, Inc. (United States), IBM Corporation (United States), TomTom International BV (Netherlands), Oracle Corporation (United States), Intel Corporation (United States), Telefonica S.A. (Spain), Digit fleet & fuel management (South Africa), enX Group Limited (South Africa), Autotrak (South Africa) and PFK Electronics (Pty) Ltd (South Africa) |
CAGR | 20.9% |
Many key players in the market are focusing on innovation, and also using advanced technologies in their existing products. The key players are also using partnerships, mergers & acquisitions to remain competitive in the global market. Recently, Daimler Trucks had completed the testing of truck platooning concept. Additionally, The United States government regulations of Electronic Logging Devices (ELD) mandate has led fleet management solutions a necessary tool for commercial trucks. Research Analyst at AMA estimates that India Players will contribute to the maximum growth of Global IoT Fleet Management market throughout the predicted period.
Trimble, Inc. (United States), Omnitracs (United States), Fleetmatics (Verizon) (United States), AT&T, Inc. (United States), IBM Corporation (United States), TomTom International BV (Netherlands), Oracle Corporation (United States), Intel Corporation (United States), Telefonica S.A. (Spain), Digit fleet & fuel management (South Africa), enX Group Limited (South Africa), Autotrak (South Africa) and PFK Electronics (Pty) Ltd (South Africa) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Cisco Systems, Inc. (United States) and Sierra Wireless (Canada).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global IoT Fleet Management market by Type , by Application (Commercial Vehicles (CV), Passenger Cars (PC) and Public buses) and Region with country level break-up.
On the basis of geography, the market of IoT Fleet Management 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). North America region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2017, Cisco system inc. launched in cisco Jasper lot Services in collaboration with Asia specific telecom Chaina in Taiwan market.
In July 2018, Ooredoo, one of the region’s leading ICT and IoT providers, is further expanding its innovative portfolio, with launch of Ooredoo Fleet Management. The solution can help organisations drive to new levels of business competitiveness with their vehicle fleets, routes, and drivers.
Influencing Trend:
Growing Trends towards Smartphone Integration with Vehicles and Increasing emphasis on minimum energy consumption, lower emissions, as well as risk-free operations
Market Growth Drivers:
Requirement for Optimum Operational Efficacy, Execution of Eld Mandate & Other Anticipated Government Rules and Growing Trends towards Smartphone Integration with Vehicles
Challenges:
Data Security & Safety Issues
Restraints:
Cost Sensitivity and Absence of IoT Infrastructure in Emerging Nations
Opportunities:
Truck Platooning and Cloud & Fog Computing Analytics
Key Target Audience
Fleet management solution providers, Telecommunication service providers, Software developers and providers, Fleet operators, Transportation authorities, Mass transit authorities, Legal and regulatory authorities and Others