IoT Fleet Management Market Witness Highest Growth in near future| Leading Key Players: Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, IBM, Teletrac Navman, TomTom, Oracle, Intel, Cisco Systems, Sierra Wireless & more
MarketStudyReport.com adds a new 2018-2023 Global IoT Fleet Management Consumption Market Report focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.
This report presents a comprehensive overview, market shares, and growth opportunities of IoT Fleet Management Market by product type, application, key manufacturers and key regions. Over the next five years, IoT Fleet Management will register a 22.2% CAGR in terms of revenue, reach US$ 12700 million by 2023, from US$ 3810 million in 2017.
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A fleet management system is formed by the integration of hardware, software, and communication technologies. It provides a platform to fleet operators to efficiently control, track, and monitor commercial vehicles. They improve the overall operational efficiency by reducing the non-value-added activities of the operators. Fuel cards are used for fuel management while driver safety systems monitor driver behavior. Other solutions are employed for locational tracking of vehicles, driver navigation assistance, and ensuring that the operators meet the regulatory standards set by their respective national governments.
The Internet of Things (IoT) helps in smooth connectivity of all the vehicles in a fleet, which not only helps to gain better insight into the driver's behavior but also assists in monitoring the health of the fleet from any device. Rising demand for fleet safety and data management coupled with the growing need to reduce the total cost of ownership (TCO) and achieve fuel efficiency are anticipated to drive the adoption of IoT technology in fleet management systems.
The key factors driving the growth of the IoT fleet management market are increased demand for optimized business operations, real-time fleet monitoring, and growing number of government mandates for fleet safety.
Routing management accounted for the largest share of the IoT fleet management market, 38.4% in 2016. The growth of this segment can be attributed to rising global road freight traffic and constant R&D activities to develop innovative products. Also, the continuous R&D activities by fleet solution providers to develop advanced products help the fleet companies to provide the shortest and less crowded route to fleet vehicles to avoid unnecessary overtime cost.
The North America region is expected to hold the largest share in the IoT fleet management market, 38% in 2016. The growth of the IoT fleet management market in this region can be attributed to increasing sales of fleet vehicles, high adoption rate of advanced technological products, and regulatory developments by the government.
The major players who are operating in the IoT fleet management market globally have been profiled thoroughly and competitively in the study across all the give broad geographical regions that are covered under the purview of the report. The competitive analysis of all the market players is inclusive of their recent developments regarding IoT fleet management and the unique business strategies formulized by the companies to compete and retain their position in the global market.
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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, IBM, Teletrac Navman, TomTom, Oracle, Intel, Cisco Systems, Sierra Wireless.
Segmentation by product type:
Passenger Vehicles
Commercial Vehicles
Segmentation by application:
Routing Management
Tracking and Monitoring
Fuel Management
Remote Diagnostics
Others
Research objectives:
To study and analyze the global IoT Fleet Management market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of IoT Fleet Management market by identifying its various subsegments.
Focuses on the key global IoT Fleet Management players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the IoT Fleet Management with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of IoT Fleet Management submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
More Report At: https://empowerednews.net/author/gminsights/
Related Report:
2018-2025 IoT Fleet Management Report on Global and United States Market, Status and Forecast, by Players, Types and Applications
This report studies the global IoT Fleet Management market, analyzes and researches the IoT Fleet Management development status and forecast in United States, EU, Japan, China, India and Southeast Asia.
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Posted by
Chetan Channe
on Thursday September 13 2018, 2:45 PM EST.
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