IoT Fleet Management Market growing at a CAGR of 22.2% between 2017 and 2023

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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Scope of the Report:

This report studies the IoT Fleet Management market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the IoT Fleet Management market by product type and applications/end industries.

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.

 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.

The global IoT Fleet Management market is valued at 3810 million USD in 2017 and is expected to reach 12700 million USD by the end of 2023, growing at a CAGR of 22.2% between 2017 and 2023.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of IoT Fleet Management.

Global IoT Fleet Management market competition by top manufacturers/players, with IoT Fleet Management sales volume, Price (USD/MT), revenue (Million USD) and market share for each manufacturer/player; the top players including: Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, IBM, Teletrac Navman, TomTom, Oracle, Intel, Cisco Systems, Sierra Wireless

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The report is generically segmented into six parts and every part aims on the overview of the IoT Fleet Management industry, present condition of the market, feasibleness of the investment along with several strategies and policies. Apart from the definition and classification, the report also discusses the analysis of import and export and describes a comparison of the market that is focused on the trends and development. Along with entire framework in addition to in-depth details, one can prepare and stay ahead of the competitors across the targeted locations. The fact that this market report renders details about the major market players along with their product development and current trends proves to be very beneficial for fresh entrants to comprehend and recognize the industry in an improved manner. The report also enlightens the productions, sales, supply, market condition, demand, growth, and forecast of the IoT Fleet Management industry in the global markets.

Every region’s market has been studied thoroughly in this report which deals with the precise information pertaining to the Marketing Channels and novel project investments so that the new entrants as well as the established market players conduct intricate research of trends and analysis in these regional markets. Acknowledging the status of the environment and products’ up gradation, the market report foretells each and every detail.So as to fabricate this report, complete key details, strategies and variables are examined so that entire useful information is amalgamated together for the understanding and studying the key facts pertaining the global IoT Fleet Management Industry. The production value and market share in conjunction with the SWOT analysis everything is integrated in this report.

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