The report presents a comprehensive overview of industry trends, growth share and the competitive landscape in 200 pages.
“IoT Fleet Management Market” report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the IoT Fleet Management Market by region.
Global IoT Fleet Management Market is valued at approximately USD 6.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.8% over the forecast period 2022-2029.
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IoT Fleet Management refers to the use of IoT-based solutions for fleet management in logistics in the transportation sector. Fleet management is a process used by fleet operators to monitor different activities of fleet operations such as vehicle monitoring, dispatch & routing, and vehicle diagnosis among others. The application of IoT in fleet management enables fleet operators to automate various aspects of transportation such as preventive maintenance, remote diagnostics, vehicle & driver tracking among others. The increasing expansion of transportation & logistics sector and growing utilization of cloud-based applications & services as well as recent strategic initiatives from leading market players are key factors accelerating the market growth..
The rapid expansion of logistics & transportation sector coupled with rising digitization in the industry is contributing to the growth of the Global IoT Fleet Management Market. For instance, according to Statista – in 2020, the logistics industry was estimated at USD 5.57 trillion, and the global logistics industry is projected to grow to USD 6.61 trillion by 2024. Moreover, as per World Economic Forum estimates – digitalization in logistics industry would generate USD 1.5 trillion of value for logistics companies and a further USD 2.4 trillion worth of societal benefits over the year 2025. Also, growing emergence of AI and machine learning technologies and increase in the need for safety and security of vehicles would create a lucrative growth prospectus for the market over the forecast period. However, the high costs associated with IoT Fleet Management systems and lack of penetration from SMEs impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global IoT Fleet Management Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of global market share owing to the availability of required technological infrastructure and stringent government compliances regarding vehicle safety in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of logistics and transportation sector & increasing penetration of e-commerce platforms in the region.
Major market players included in this report are:
- AT&T Inc
- Cisco Systems Inc.
- Fleet Complete,
- Honeywell International Inc.
- Intel Corporation
- International Business Machines Corporation (IBM)
- NORTHRUP GRUNMAN
- Omnitracs
- Sierra Wireless
- Telefonica S.A
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Recent Developments in the Market:
- In February 2020, India based internet of things (IoT) and connectivity solutions provider Aeris Communications entered into a partnership with automotive telematics provider Omnicomm to launch an IoT fuel monitoring solution in India. This new solution would enable fleet operators to monitor fuel theft in their vehicle fleets.
- In June 2021, Vodafone Qatar rolled out an enhanced version of its IoT Fleet Management solution. This new IoT based solution would provide insights relating to traffic data, vehicle location, fuel consumption, and vehicle status among others.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Application
Routing Management
Tracking and Monitoring
Fuel Management
Remote Diagnostics
Others
By Services
Professional
Managed
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By Platform
Application Enablement Platform
Network Management
Device Management
By Type
Public
Private
Hybrid
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
Key Market Features in Global Market:The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The study also offers a thorough analysis of the most important market factors and their most recent developments, as well as pertinent market segments and sub-segments.
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
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