The Global Smart Fleet Management Market Was Valued At USD 648.73 Million In 2027

The global domination of Smart Fleet Management

The international smart fleet management market is predicted to reach USD 565.1 billion by 2025. From 2017 to 2025, the market is expected to grow at a CAGR of 7.6%. Vehicle communication technologies have boosted the adoption of smart fleet management systems, such as fleet analytics, remote diagnostics, vehicle tracking, and monitoring, predictive maintenance, fuel management, and driver performance tracking and monitoring, to name a few. This enables fleet operators of all sizes to implement smart technologies to improve productivity, operational efficiency, and cost savings in a variety of ways. To improve driver and road safety, cut carbon emissions, and efficiently manage traffic congestion, government agencies are investing in intelligent transportation systems and requiring the use of linked technologies for all vehicles.

The domination of key players in the global market of Smart Fleet Management

It is critical for linked technology to function properly that there be no gaps in connectivity. Strong wireless connectivity infrastructure is ubiquitous in regions like North America and Europe, which has permitted broad investment in telematics solutions among fleet operators. Furthermore, the presence of major industry players such as Cisco Systems, Inc., IBM Corporation, Continental AG, Sierra Wireless, Zonar Systems, Inc., and Orbcomm, Inc. is expected to boost the smart fleet management market's growth prospects. On the negative side, advances in networking technologies that enable a linked environment will raise serious questions about data privacy and security. The smart fleet management industry is likely to be hampered by a lack of network infrastructure in developing regions, the complexity of deployment, and high initial capital needs.

The global smart fleet management market has been categorised by transportation, hardware, connectivity, and region, according to Industry Data Analytics:

Smart Fleet Management Transportation Outlook (Revenue, USD Billion, 2014 - 2025)

• Automotive
• Rolling Stock
• Marine

Smart Fleet Management Hardware Outlook (Revenue, USD Billion, 2014 - 2025)

• Tracking
• Remote Diagnostics
• ADAS
• Optimization

Smart Fleet Management Connectivity Outlook (Revenue, USD Billion, 2014 - 2025)

• Short Range Communication
• Long Range Communication
• Cloud

Smart Fleet Management Regional Outlook (Revenue, USD Billion, 2014 - 2025)

North America

• U.S.
• Canada

Europe

• U.K.
• Germany

Asia Pacific

• China
• India
• Japan

Rest of World (RoW)

• Brazil
• Mexico
• Others 

Highlights from the Smart Fleet Management Market Report

• The automotive market would increase at the quickest rate among transportation segments throughout the projected period, with a CAGR of 8.2 percent. This segment will be driven by autonomous vehicles, telematics, and vehicular communications.
• Due to increased government restrictions and measures to maintain safety, ADAS systems are likely to dominate the worldwide smart fleet management market in terms of hardware.
• The cloud connectivity segment is likely to be driven by low costs, flexibility, and scalability. Over the projected period, the segment is expected to grow at an annual rate of 8.8%.
• The APAC market is predicted to rise due to increased need for efficient transportation, rising demand for premium fleets, and the implementation of tight regulatory regulations.
• Some of the main participants in the market include Cisco Systems, Inc., Continental AG, IBM Corporation, Siemens AG, Robert Bosch GmbH, Tech Mahindra, Sierra Wireless, and Zonar Systems, Inc.

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