The global Smart Fleet Management Market size is expected to reach USD 565.1 billion by 2025, according to a study conducted by Grand View Research, Inc. The market is anticipated to register a CAGR of 7.6% from 2017 to 2025. Introduction of vehicular communication technologies has increased the adoption of smart fleet management solutions, which enable vehicle tracking and monitoring, fleet analytics, fuel management, predictive maintenance, remote diagnostics, and driver performance tracking and monitoring, among others. This enables fleet operators of all sizes to incorporate smart technologies to increase their operational efficiency, enhance productivity, and enable varied cost savings. Government agencies are investing in intelligent transport systems and mandating the use of connected technologies for all vehicles to enhance driver and road safety, reduce carbon emissions, and efficiently manage traffic congestions.
For connected technologies to work successfully, it
is of utmost importance that there be seamless connectivity. In regions such as
North America and Europe, there is ubiquitous presence of strong wireless
connectivity infrastructure and this has facilitated widespread investment in
telematics solutions among fleet operators. Additionally, presence of prominent
industry players such as Cisco Systems, Inc.; IBM Corporation; Continental AG;
Sierra Wireless; Zonar Systems, Inc.; and Orbcomm, Inc. is estimated to foster
growth prospects for the smart fleet management market.
On the down side, advancements in networking technologies
enabling a connected environment will pose significant concerns over data
privacy and data security. Lack of network infrastructure in developing
regions, complexity of deployment, and high initial capital requirements are
also expected to hinder the growth of the smart fleet management market.
Related Press Release@ Smart Fleet Management Market Report
Smart Fleet Management Market Report Highlights
- By transportation, the automotive segment will register the fastest
growth during the forecast period, exhibiting a CAGR of 8.2%. Autonomous
vehicles, telematics, and vehicular communications will drive this segment
- In terms of hardware, ADAS systems are expected to dominate the
global smart fleet management market owing to increasing government
regulations and initiatives to ensure safety
- Low cost, flexibility, and scalability are expected to drive the
cloud connectivity segment. The segment is expected to expand at a CAGR of
8.8% over the forecast period
- Demand for efficient transportation, rising demand for premium fleets,
and implementation of strict government regulations are expected to
bolster the growth of the APAC market
- Cisco Systems, Inc.; Continental AG; IBM Corporation; Siemens AG;
Robert Bosch GmbH; Tech Mahindra; Sierra Wireless; and Zonar Systems, Inc.
are some of the major players in the market.
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Smart Fleet Management Market Segmentation
Grand View Research has segmented the global smart
fleet management market on the basis of transportation, hardware, connectivity,
and region:
Smart Fleet Management Transportation Outlook (Revenue,
USD Billion, 2014 - 2025)
- Automotive
- Rolling Stock
- Marine
Smart Fleet Management Hardware Outlook (Revenue, USD
Billion, 2014 - 2025)
- Tracking
- Remote Diagnostics
- ADAS
- Optimization
Smart Fleet Management Connectivity Outlook (Revenue, USD
Billion, 2014 - 2025)
- Short Range Communication
- Long Range Communication
- Cloud
Smart Fleet Management Regional Outlook (Revenue, USD
Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Rest of World (RoW)
- Brazil
- Mexico
- Others
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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