Global Smart Fleet Management Market, By Mode of Transport (Automotive, Rolling Stock, Marine), Hardware (Tracking, Optimization, Advanced Driver Assistance Systems (ADAS), Remote Diagnostics), Connectivity (Short Range Communication, Long Range Communication, Cloud), Solutions (Vehicle Tracking, Fleet Optimization) - Industry Trends and Forecast to 2029.
Global Smart Fleet Management Market Analysis and Size
In past years, smart fleet management is widely being utilized as it offers real-time alerts, anti-theft notifications, safety alerts, critical alerts, and driver behavior. The use of this technology results in improved safety, reduced costs and compliance.
- Global Smart Fleet Management Market was valued at USD 44,989.78 million in 2021 and is expected to reach USD 86,153.05 million by 2029, registering a CAGR of 8.46% during the forecast period of 2022-2029. Advanced Driver Assistance Systems (ADAS) is expected witness high growth in the respective market owing to the adoption of autonomous vehicle technologies. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Global Smart Fleet Management Market Definition
Smart fleet management refers to an integration of fleet management technologies that are widely used for managing, maintaining and attaining optimum efficient operations of the fleet. The technology allows digital technology application for fuel management, maintenance, telematics, smart surveillance, telematics and tracking.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Forecast Period
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2022 - 2029
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Mode of Transport (Automotive, Rolling Stock, Marine), Hardware (Tracking, Optimization, Advanced Driver Assistance Systems (ADAS), Remote Diagnostics), Connectivity (Short Range Communication, Long Range Communication, Cloud), Solutions (Vehicle Tracking, Fleet Optimization)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Bosch Limited (Germany), Continental AG (Germany), DENSO CORPORATION (Japan), HARMAN International (US), Siemens AG (Germany), IBM Corporation (US), Sierra Wireless (Canada), Cisco (US), CalAmp (US), Precious Shipping Public Company Limited (Thailand), Otto Marine Limited (Singapore), ORBCOMM (US), JUTHA MARITIME (Thailand), Globecomm Systems Inc. (US), Zonar Systems. (US), Robert Bosch GmbH (Germany), TomTom International BV. (Netherlands), Trakm8 Limited (UK), BMW (Germany), CHAINWAYTSP CO., Ltd (China), among others
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Market Opportunities
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Smart Fleet Management Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
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Digitalization of Vehicles
The rapid digitalization of vehicles acts as one of the major factor driving the growth of smart fleet management market. The need for achieving improved productivity, profitability at reduced costs and operational efficiency have a positive impact on the market.
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Rise in Transportation
The increase in the fleet size of the transportation and logistics companies making smart fleet management necessary for vehicle security and timely delivery further influence the market.
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Government Regulations
The increase in government regulations and initiatives towards creating a more reliable and secure transportation network further influence the market. These regulations favor the development of intelligent transport systems.
Additionally, surge in investments, increased disposable income and expansion of the automotive sector positively affect the smart fleet management market.
Opportunities
Furthermore, fleets integration with artificial intelligence extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in new customer segment across diverse industry verticals will further escalate the growth of smart fleet management market.
Restraints/Challenges faced by the Smart Fleet Management Market
On the other hand, complex and expensive technology and lack of adaptability in developing nations are expected to obstruct market growth. Also, cost and quality, and safety and security threats are projected to challenge the smart fleet management market in the forecast period of 2022-2029.
This smart fleet management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart fleet management market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on Smart Fleet Management Market
COVID-19 had a negative impact on the global smart fleet management market due to the commute restrictions. The market faced various challenges, such as regulatory and policy changes, working capital management, supply chain execution and dependency on labor. However, organizations prepared strategic cost-saving plans to manage the impact of the pandemic. The demand for smart fleet management hardware and managing software has increased to manage and cater to the continuous supply of essentials in the post pandemic scenario.
Global Smart Fleet Management Market Scope
The smart fleet management market is segmented on the basis of transport, hardware, connectivity and solutions. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Transport
- Automotive
- Rolling Stock
- Marine
Based on mode of transport, smart fleet management market is segmented into automotive, rolling stock and marine.
Hardware
- Tracking
- Optimization
- Advanced Driver Assistance Systems (ADAS)
- Remote Diagnostics
Based on hardware, smart fleet management market is segmented into tracking, optimization, ADAS and remote diagnostics.
Connectivity
- Short Range Communication
- Long Range Communication
- Cloud
Based on connectivity, smart fleet management market is segmented into short range communication, long range communication and cloud.
Solutions
- Vehicle Tracking
- Fleet Optimization
Based on solutions, smart fleet management market is segmented into vehicle tracking and fleet optimization.
Smart Fleet Management Market Regional Analysis/Insights
The smart fleet management market is analyzed and market size insights and trends are provided by country, transport, hardware, connectivity and solutions.
The countries covered in the smart fleet management market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the smart fleet management market because of the presence of advanced infrastructure and sophisticated technologies within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in the commercial fleets in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Fleet Management Market Share Analysis
The smart fleet management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart fleet management market.
Some of the major players operating in the smart fleet management market are
- Bosch Limited (Germany)
- Continental AG (Germany)
- DENSO CORPORATION (Japan)
- HARMAN International (US)
- Siemens AG (Germany)
- IBM Corporation (US)
- Sierra Wireless (Canada)
- Cisco (US)
- CalAmp (US)
- Precious Shipping Public Company Limited (Thailand)
- Otto Marine Limited (Singapore)
- ORBCOMM (US)
- JUTHA MARITIME (Thailand)
- Globecomm Systems Inc. (US)
- Zonar Systems. (US)
- Robert Bosch GmbH (Germany)
- TomTom International BV. (Netherlands)
- Trakm8 Limited (UK)
- BMW (Germany)
- CHAINWAYTSP CO., Ltd (China)
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