Global IoT Fleet Management Market Size Will Reach $18,858 Million By 2025, at 21.6% CAGR Growth: Facts & Factors
New York, NY, March 11, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “IoT Fleet Management Market By Platform (Device Management, Network Management, and Application Enablement Platform), By Services (Professional and Managed), By Solutions (Drive Time Analysis, Fleet Analytics, Tracking & Monitoring, Routing Management, Driver Information System, Fuel Management, Remote Diagnostics, and Vehicle Maintenance), By Cloud Deployment Model (Hybrid, Public, and Private), and By Fleet Type (Commercial Vehicles (CV), Public Buses, and Passenger Cars (PC)): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025” .
“According to the research report, the global IoT Fleet Management Market was estimated at USD 4,786 Million in 2018 and is expected to reach USD 18,858 Million by 2025. The global IoT Fleet Management Market is expected to grow at a compound annual growth rate (CAGR) of 21.6% from 2019 to 2026”.
Fleet management is the function that supports the firms in transport activities to reduce or eradicate the risks related to output. It helps in improving efficiency, increase the allocation of funds for fleet, and offer compliance through government legislations. Moreover, fleet management assists in minimizing the charges related to transporting through cost optimization & cost efficiency in fleet functions. Apparently, the incorporation of IoT in the fleet management system is aimed at enhancing the business avenues along with improving the supply chain visibility and process chain monitoring activities.
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the IoT Fleet Management Market?
2) What is the market size, share of the IoT Fleet Management Market?
3) Who are the top market players in IoT Fleet Management Market?
4) What will be the future market of the IoT Fleet Management Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
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Amalgamation of smart equipment and vehicle to spur the market trends
The launching of the internet of things has helped the vehicles in connecting to smart equipment perfectly along with offering real-time traffic warnings as well as emergency roadside support. This is likely to drive the growth of the market over the forecast period.
Industry Major Market Players
- International Business Machines Corporation (IBM)
- Telefonica S.A.
- Verizon Communications Inc
- Intel Corporation
- AT&T Inc
- Cisco Systems Inc
- Trimble Inc
- Tomtom International BV
- Sierra Wireless
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Furthermore, smart equipment like mobiles, cameras, and sensors are connected via wireless systems for the purpose of communication. The incorporation of IoT with fleet management systems supports remote diagnostics, fleet analytics, vehicle maintenance, fuel management, tracking & monitoring, and drive time analysis. This, in turn, helps in saving both time and costs and assists in fulfilling the client requirements. Moreover, the growing acceptance of smart equipment in transport firms is predicted to embellish the expansion of the IoT fleet management industry over the forecast timeline.
Moreover, upcoming rules on fleet safety are predicted to enhance the scope of the market during the forecast timeline. In addition to this, governments of many countries are introducing laws and carrying out fleet safety programs for securing fleet solutions. All these aforementioned aspects are likely to drive the market trends over the forecast timeline. Nevertheless, the lack of IoT infrastructure facilities in the emerging economies may pose a threat to the expansion of the IoT fleet management industry during the forecast period. However, cloud computing & fog computing analytics will offer new growth avenues for the market over the forecast timeline.
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Device management to lead the platform segment during the forecast period
The growth of the segment during the forecast timeline is owing to the beneficial characteristic of device management for aiding remote access, equipment confirmation, observation, and investigation along with providing security against malware threats & hackling. Apart from this, massive usage of personalized equipment such as tablets & smartphones for a device management tool for regulating & monitoring device security will steer the segmental growth over the forecast timeline.
Commercial Vehicles (CV) segment to account for the major market share during the forecast period
The segmental growth is credited to the ability of the IoT fleet management in reducing the commercial vehicle risks through the offering of real-time data pertaining to the vehicle, traffic, and driver along with saving the vehicle fuel resulting in cost-savings.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
The study provides a decisive view of the IoT Fleet Management market by segmenting the market based on platform, services, solutions, cloud deployment model, fleet type, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025.
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Smart equipment like mobiles, cameras, and sensors are connected via wireless systems for the purpose of communication. The incorporation of IoT with fleet management systems supports remote diagnostics, fleet analytics, vehicle maintenance, fuel management, tracking & monitoring, and drive time analysis. This, in turn, helps in saving both time and costs and assists in fulfilling the client requirements. Moreover, the growing acceptance of smart equipment in transport firms is predicted to embellish the expansion of the IoT fleet management industry over the forecast timeline.
North America to garner major market revenue share by 2025
The regional market surge over the forecast timeline is credited to strict compliance laws, large-scale acceptance of technologically advanced products, and robust network infrastructure facilities in the region. In addition to this, a rise in the number of public transport vehicles, passenger vehicles, and heavy trucks in countries like the U.S. will need rapid data exchange for effective decision-making & better business analytics, thereby offering bright growth prospects for the market in the region.
Browse the full “IoT Fleet Management Market By Platform (Device Management, Network Management, and Application Enablement Platform), By Services (Professional and Managed), By Solutions (Drive Time Analysis, Fleet Analytics, Tracking & Monitoring, Routing Management, Driver Information System, Fuel Management, Remote Diagnostics, and Vehicle Maintenance), By Cloud Deployment Model (Hybrid, Public, and Private), and By Fleet Type (Commercial Vehicles (CV), Public Buses, and Passenger Cars (PC)): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025” report at https://www.fnfresearch.com/iot-fleet-management-market-by-platform-device-management-221
Key Features of IoT Fleet Management Market Report:
- IoT Fleet Management Market structure: Overview, industry life cycle analysis, supply chain analysis
- IoT Fleet Management Market: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- IoT Fleet Management Market Size, trend, and forecast analysis
- IoT Fleet Management Market segments’ trend and forecast
- IoT Fleet Management Market’s competitive landscapes: Market share, Product portfolio, new product launches, etc.
- IoT Fleet Management Market attractiveness and associated growth opportunities
- Emerging Trends in the IoT Fleet Management Market.
- Strategic growth opportunities for the existing and new players
- Key success factors
This report segments the IoT Fleet Management market as follows:
IoT Fleet Management Market : By Platform Analysis
- Device Management
- Network Management
- Application Enablement Platform
IoT Fleet Management Market: By Services Analysis
IoT Fleet Management Market: By Solutions Analysis
- Drive Time Analysis
- Fleet Analytics
- Tracking & Monitoring
- Routing Management
- Driver Information System
- Fuel Management
- Remote Diagnostics
- Vehicle Maintenance
IoT Fleet Management Market: By Cloud Deployment Model Analysis
IoT Fleet Management Market: By Fleet Type Analysis
- Commercial Vehicles (CV)
- Public Buses
- Passenger Cars (PC)
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