Mobile Resource Management Market 2023 Growth, Revenue, Type, Application, Manufacturers, Future Projections

Mobile Resource Management (MRM) is a combination of technology, software, and hardware that informs a user about the location of mobile assets at a specified time. The organizations manage costs and resources through real-time tracking and monitoring with the help of Mobile Resource Management (MRM) solutions. The term is generally used interchangeably with Automatic Vehicle Location.

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There are five basic components which are necessary to form a complete MRM solution. These fundamental components are connectivity, hardware, GIS data, data interoperability server, and a decision-making software. The widely available options for connectivity are Wi-Fi, satellite, two-way radios, and others. Various GPS capable hardware are readily available across the market. The data collected from the sensors can be easily extracted and compiled for real-time analysis. In addition, various decision-making software come bundled with the solutions, or can be easily obtained in the marketplace.

Since early 2010, the transportation & logistics companies have started adopting the MRM solutions. They are being used in the overall process, i.e. inbound, internal and external logistics. Moreover, are helping in easy traceability and monitoring of the processes in the shop floor, and in the fleet management.

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Competitive analysis:

Advancements in cloud, IoT, and analytics has led to the rising adoption of MRM and telematics. As such there is rising competition in the market. Various large enterprises and SME's have entered the market to address the rising technological needs. As customers are in search for end-to-end solutions, there is a rising number of partnerships.

Product analysis:

There are five basic components which are necessary to form a complete MRM solution. These fundamental components are connectivity, hardware, GIS data, data interoperability server, and a decision-making software. The widely available options for connectivity are Wi-Fi, satellite, two-way radios, and others. Various GPS capable hardware are readily available across the market.

Regional analysis:

Americas is a major region which holds the largest share for MRM. The region has a large diverse set of industries who are willing to invest in the MRM solutions. In addition, the region has a well-developed ecosystem with a healthy competition which drives innovation. Europe has a huge transportation, logistics, and shipping market. The companies are utilising IoT, analytics, cloud, and various sensors and GPS tools to differentiate their services. Major automobile manufacturers are also partnering with MRM vendors to develop new products and services.

Key players:

Some of the key mobile resource management companies include Spireon, The Descartes Systems Group, Trimble, AT&T, Garmin International, AppLocation Systems, CalAmp, and SkyBitz Inc. Most of the major players are in the Americas region.

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