Global IoT Fleet Management Market is expected to reach 17500 million USD by the end of 2025
This report studies the global IoT Fleet Management market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global IoT Fleet Management market by companies, region, type and end-use industry.
A fleet management system is formed by the integration of hardware, software, and communication technologies. It provides a platform to fleet operators to efficiently control, track, and monitor commercial vehicles. They improve the overall operational efficiency by reducing the non-value-added activities of the operators. Fuel cards are used for fuel management while driver safety systems monitor driver behavior. Other solutions are employed for locational tracking of vehicles, driver navigation assistance, and ensuring that the operators meet the regulatory standards set by their respective national governments.
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In 2017, the global IoT Fleet Management market size was 3810 million US$ and it is expected to reach 17500 million US$ by the end of 2025, with a CAGR of 21.0% during 2018-2025.
The Internet of Things (IoT) helps in smooth connectivity of all the vehicles in a fleet, which not only helps to gain better insight into the driver's behavior but also assists in monitoring the health of the fleet from any device. Rising demand for fleet safety and data management coupled with the growing need to reduce the total cost of ownership (TCO) and achieve fuel efficiency are anticipated to drive the adoption of IoT technology in fleet management systems.
The key factors driving the growth of the IoT fleet management market are increased demand for optimized business operations, real-time fleet monitoring, and growing number of government mandates for fleet safety.
Routing management accounted for the largest share of the IoT fleet management market, 38.4% in 2016. The growth of this segment can be attributed to rising global road freight traffic and constant R&D activities to develop innovative products. Also, the continuous R&D activities by fleet solution providers to develop advanced products help the fleet companies to provide the shortest and less crowded route to fleet vehicles to avoid unnecessary overtime cost.
The North America region is expected to hold the largest share in the IoT fleet management market, 38% in 2016. The growth of the IoT fleet management market in this region can be attributed to increasing sales of fleet vehicles, high adoption rate of advanced technological products, and regulatory developments by the government.
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The major players who are operating in the IoT fleet management market globally have been profiled thoroughly and competitively in the study across all the give broad geographical regions that are covered under the purview of the report. The competitive analysis of all the market players is inclusive of their recent developments regarding IoT fleet management and the unique business strategies formulized by the companies to compete and retain their position in the global market.
This report focuses on the global top players, covered
IoT Fleet Management Manufacturers
IoT Fleet Management Distributors/Traders/Wholesalers
IoT Fleet Management Subcomponent Manufacturers
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With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report:
Regional and country-level analysis of the IoT Fleet Management market, by end-use.
Detailed analysis and profiles of additional market players.
Table of Contents
Global IoT Fleet Management Market Size, Status and Forecast 2025
1 Industry Overview of IoT Fleet Management
1.1 IoT Fleet Management Market Overview
1.1.1 IoT Fleet Management Product Scope
1.1.2 Market Status and Outlook
1.2 Global IoT Fleet Management Market Size and Analysis by Regions (2013-2018)
1.2.1 United States
1.2.5 Southeast Asia
1.3 IoT Fleet Management Market by Type
1.3.1 Passenger Vehicles
1.3.2 Commercial Vehicles
1.4 IoT Fleet Management Market by End Users/Application
1.4.1 Routing Management
1.4.2 Tracking and Monitoring
1.4.3 Fuel Management
1.4.4 Remote Diagnostics
2 Global IoT Fleet Management Competition Analysis by Players
2.1 IoT Fleet Management Market Size (Value) by Players (2013-2018)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
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