A latest research study from Researchstore.biz on “Global Smart Fleet Management Market,” highlights analysis of offers a complete assessment of the Market Scenario, Type, Application, Region and Forecast 2018-2025.
The global smart fleet management market expressed USD 253.84 Billion in 2017, thus growth period of this market can be stated as from 2018-2025 and the market is anticipated to jump USD 486.45 Billion by 2025. Several leading factors driving the smart fleet management market growth include government guidelines, the necessity of high-speed network, and increasing adoption of smart fleet management in telematics and autonomous vehicles.
The smart fleet management supports vehicle tracking, monitoring, fleet analytics, fuel management, predictive preservation, remote diagnostics, as well as driver performance tracking solutions. Through these features, efficient and enhanced productivity of the fleet can be achieved. The smart fleet management are used to enhance driver and road safety concerns. They are integrated with connected technologies with automotive. They feature powerful fleet tracking, real-time inspection, a devoted remote server for fleet data, and security. With the acceptance and the developments of innovations, expenses can be measured and the driver’s conduct can also be screened.
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The smart fleet management market is expected to be driven by growing number of smart homes and rapid explosion of multifunctional devices as well as government regulations, rising adoption of smart fleet management in telematics and autonomous vehicles, and need of a high-speed network.
Moreover, government organizations are making investments in intelligent transport systems and permitting the use of connected technologies for all vehicles. Their motive behind this is to improve driver and road safety and the concern will lead to the growth of smart fleet management market in a couple of years. The complex and expensive technology and lack of adaptability in developing nations may restrain the growth of the market.
The global smart fleet management market analysis by segments covers segments by transportation, hardware, connectivity, solution, and regions.
Segmentation by hardware: tracking, optimization, ADAS, and diagnostic. ADAS segment is projected to reach the highest CAGR of 9.68% over the forecast period. The ADAS systems have higher demand and adoption in all passenger vehicles which makes it an important factor to drive the demand of ADAS segment.
Segmentation by solution: tracking and optimization. In 2017, the tracking segment registered about USD 140.48 Billion and it is expected to extend with the highest CAGR over the forecast period. Fleet can be easily managed using the tracking which can also be used to keep the real-time track of the fleets.
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Smart Fleet Management Market Analysis By Region:
The regional segmentation analysis covers five regions namely North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The Asia Pacific registered the highest market share of 29.64% in 2017. Moreover, key factors that led to the development of smart fleet management market include: The changing government approach towards fleet operators, driver, passenger, and goods safety imposed many regulations related to fleet management.
The major players of smart fleet management market include Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, General Motors, BMW, Hyundai Motors, Precious Shipping Company Private Limited, Otto Marine Limited, Workwave LLC, and Zonar Systems.
Moreover, automotive, rolling stock, marine are involved in the transportation segments. Connectivity section is divided into short, long, and cloud. The smart fleet management market study focuses on the analysis of the key features such as drivers, new development opportunities, and restraints influencing the expansion of the smart fleet management market for the forecasted period.
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