About Fleet Tracking and Monitoring Software
Fleet tracking and monitoring software allows people to achieve a series of precise tasks in the management of any or all features involving a fleet of vehicles operated by a company, government, or other organizations. It allows companies that rely on transportation in business to remove or minimize the risks associated with vehicle investment, improving efficiency, productivity and reducing their overall transportation and staff costs.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 15.1% |
Global Fleet Tracking and Monitoring Software is a fragmented market due to the presence of various players. The players are investing more in mergers and acquisitions to enhance their market presence. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that Japan Players will contribute the maximum growth to Global Fleet Tracking and Monitoring Software 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.
Samsara (United States), Asset Monitoring Solutions Group (UK) Ltd (United Kingdom), Rand McNally (United States), Web fleet Solutions (Netherlands), Omnitracs, LLC (United States), Geotab (Canada), GoFleet Corporation (Canada), Fleetmatics Group PLC (Irland), Teletrac Navman (United States) and Rhino Fleet Tracking (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 Global Tracking Communications, Inc. (United States) and NexTraq (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fleet Tracking and Monitoring Software market by , Application (Transportation & Logistics, Mining Materials, Construction, Consumer Goods, Government, E-commerce and Others) and Region.
On the basis of geography, the market of Fleet Tracking and Monitoring Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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. Tractor & Trailers will boost the Fleet Tracking and Monitoring Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-based will boost the Fleet Tracking and Monitoring Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering, the sub-segment i.e. Real-Time GPS Tracking & Geofencing will boost the Fleet Tracking and Monitoring Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Incorporation of Connecting Technologies
Market Growth Drivers:
Government focus and Investment in Fleet Tracking and Management Services and Various Benefits of Fleet Tracking and Monitoring Software Such as it Improve Vehicle Maintenance, Improve Customer Satisfaction, etc
Challenges:
High Cost Associated with the Adoption of Fleet Tracking and Monitoring Software
Restraints:
Cutthroat Competitions and Logistical Challenges and Concerns Related to Data Privacy and Security
Opportunities:
Increasing Implementation of Fleet Tracking and Monitoring Software in Emerging Economies can create Opportunities for the Market Growth
Market Leaders and their expansionary development strategies
In 2020 GoFleet Corporation, announced a new partnership with Samsara. The partnership enables GoFleet to continue to help customers with all of their IoT telematics and technology needs. The partnership helps GoFleet to offer the best solutions in the marketplace for the benefit of all clients.
In June 2023, Verizon Connect launched FleetEdge Go, a cloud-based fleet management solution designed for small and medium-sized businesses.
Key Target Audience
Fleet Tracking and Monitoring Software Regulatory Bodies, Potential Investors, New Entrants, Research and Development Institutes and Others
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.