Smart Fleet Management Market - Global Industry Analysis

Smart Fleet Management Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-5587 Status : Upcoming

Description

Global Smart Fleet Management Market: Overview

Smart fleet management refers to the utilization of the technologies to attain, maintain, and manage the optimum and efficient operation of the fleet. It led the digital technology to maintain and improve the applications to fuel the management along with telematics, driver safety, smart surveillance, and tracking. Smart fleet management ensures compliance, enhances safety, and reduces costs. These operators trace and provide real-time information of the target transportation medium to reduce idle time & transport costs and hence, increase the efficiency of the fleet management. The basic aim of the smart fleet management system is to provide effective real-time monitoring, enhanced security features, and a dedicated fleet data server in a single system.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Smart Fleet Management Market: Growth Factors

The foremost factor driving the global smart fleet management market growth is the government initiatives and the regulations to create more secure and reliable transport networks. These government initiatives are supporting the development of a smart transport system. Several government agencies are promoting the utilization of technologies of connected devices to lower energy consumptions, avoid road congestions, and curtail carbon emission.

Technologies of connected devices offer several added benefits like monitoring, tracking, enhanced security, and improved safety. However, adoption of these smart technologies calls for a strong and stable network to facilitate seamless connectivity and real-time transfer of information.

These solutions enable fleet operators to make better and informed decisions with enhanced operational efficiency and save on costs.

The global smart fleet management market is growing due to various other factors like anti-theft notifications, driver behavior alerts, and compliance assurance.

Global Smart Fleet Management Market: Segmentation

The global smart fleet management market can be segmented into transport, hardware, connectivity, operation, and region.

By transport, the market can be segmented into marine, automotive, and rolling stock. The automotive segment holds the largest market share owing to the technology of connected vehicles to manage various operations such as remote diagnostics, fuel management, vehicle idle time, predictive maintenance, and route optimization. Moreover, these solutions help fleet operators to optimize the operations and lower the business risks.

By hardware, the market can be segmented into optimization, remote diagnostics, tracking, and advanced driver assistance system (ADAS). The ADAS segment holds hegemony over others due to the incorporation of various components like radars, sensors, image processing units, and LiDAR to avoid collisions and enhance safety. They also offer added features like GPS navigation, integration of management systems with smartphones to send alerts, automated brakes, automated lightening, and cruise control to enhance the driving experience. The remote diagnostics segment is also expected to witness huge growth owing to its capability to analyze vehicular data and component failure alerts.

By connectivity, the market can be segmented into long-range, short-range, and cloud communication. The short-range segment holds the largest share in the global smart fleet management market due to efficient vehicle-to-infrastructure and vehicle-to-vehicle communication that can transfer myriad information.

By operation, the market can be segmented into commercial and private. The commercial segment dominates the global smart fleet management market.

Global Smart Fleet Management Market: Regional analysis

Asia Pacific dominates the global smart fleet management market due to the growing adoption of fleet management solutions. Moreover, the increasing rates of road accidents in the region also contribute to the growth of these solutions. The region has the most strict vehicle rules and regulations in the world and hence it boosts the regional market growth.

North America is expected to witness a huge growth rate with a high CAGR during the forecast period due to the surge in the adoption of advanced driving systems.

Global Smart Fleet Management Market: Competitive Players

Some of the significant players in the global smart fleet management market are Workwave LLC, Zonar Systems, Trimble Navigation Ltd., Magellan, Infineon Technologies AG, ChainwayTSP Co., Ltd., General Motors, CarTrack Technologies Co. Ltd, Denso Corporation, Sierra Wireless, Tech Mahindra, Robert Bosch GmbH, IBM Corporation, Continental AG, Cisco Systems, Inc., and Siemens AG.

Global Smart Fleet Management Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The foremost factor driving the global smart fleet management market is the government initiatives and the regulations to create more secure and reliable transport networks. These government initiatives are supporting the development of a smart transport system.

Some of the significant players in the global smart fleet management market are Workwave LLC, Zonar Systems, Trimble Navigation Ltd., Magellan, Infineon Technologies AG, ChainwayTSP Co., Ltd., General Motors, CarTrack Technologies Co. Ltd, Denso Corporation, Sierra Wireless, Tech Mahindra, Robert Bosch GmbH, IBM Corporation, Continental AG, Cisco Systems, Inc., and Siemens AG.

Asia Pacific dominates the global smart fleet management market due to the growing adoption of fleet management solutions. Moreover, the increasing rates of road accidents in the region also contribute to the growth of these solutions.

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