New Growth of IoT fleet management Market Profiling top companies- AT&T, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Verizon Communications, Inc. (U.S.), TomTom International BV (Netherlands), Trimble, Inc.

IoT fleet management includes various solutions such as vehicle tracking and monitoring, vehicle analysis, fuel management, predictive maintenance, remote diagnostics and operator performance tracking and monitoring. The IoT fleet management Market solution enables vehicle operators to increase operational efficiency and reduce costs. The presence of strong wireless connectivity infrastructure in North America and Europe has facilitated the diffusion of IoT vehicle management.

The IoT fleet management market is projected to grow at a CAGR of 21.26% during the forecast period, to reach USD 8.28 billion by 2023. The key factors driving the market are the requirement of high operational efficiency, integration of smart devices with vehicles, and upcoming regulations on fleet safety and security. However, key restraints such as lack of IoT infrastructure in developing countries, cost sensitivity of small fleet companies, and driver privacy concerns could affect the growth of this market.

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Some of the Key Players of this Market: AT&T, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Verizon Communications, Inc. (U.S.), TomTom International BV (Netherlands), Trimble, Inc. (U.S.), IBM Corporation (U.S.), Omnitracs (U.S.), Sierra Wireless (Canada), Intel Corporation (U.S.), Telefonica S.A. (Spain).

“Cloud hybrid model is expected to grow at the highest CAGR during the forecast period”
The hybrid model is witnessing a potential growth opportunity in the market. The growth of the hybrid model can be attributed to benefits such as higher flexibility of data management and adequate data implementation privilege at lower costs. It enables data backup and recovery on cloud infrastructure. The shifting trend of subscription-based solutions is also emerging at a modest pace. These require uninterrupted cloud server with easy accessibility. The combined scalability and flexibility of virtual cloud server will accelerate the growth of the hybrid model market.

“Commercial vehicles are expected to be the largest market for IoT fleet management, by fleet type”
Commercial vehicles are estimated to be the largest segment in the IoT fleet management market, in terms of installed fleet solutions. The growth of this segment can be attributed to increasing trend of smartphone integration with vehicles, driver behavior monitoring, fuel efficiency, and fleet analytics. Also, testing of some innovative technologies such as automated trucks/platooning is currently at a nascent stage and will strongly influence the market in the near future. Companies such as Daimler AG, Volvo Trucks, and Scania AB have already started working on this technology. Hence, the increasing focus of fleet companies to reduce operational cost has resulted in increased demand for IoT-enabled fleet solutions in commercial vehicles.

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“The Americas region is estimated to be the largest market for IoT fleet management”
The Americas region is expected to dominate the IoT fleet management market during the forecast period. The market in this region is growing due to increasing technological advancements, regulatory compliances, and noticeable government initiatives. For instance, the U.S. General Services Administration (GSA) states the rules and regulations for public sector fleet vehicles that are being offered to the federal government.
Also, in 2015, the U.S. Department of Transportation introduced a strategic plan for implementing the Intelligent Transportation System (ITS) over a period of next five years. Under this plan, R&D activities have been carried out to improve the country’s transportation infrastructure. Furthermore, increasing awareness of the benefits of telematics in countries such as Brazil and Mexico would also fuel the IoT fleet management market in the Americas region. This would lead to higher usage of IoT for faster data communication between the vehicle and backend server to achieve enhanced analytics and decision making.

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The global IoT fleet management Market is gaining pace and industry have started understanding the benefits of analytics in the present day highly dynamic environment. The market has witnessed several important developments over the past few years, with mounting volumes of data and the shift from traditional analysis platforms to self-service analytics being some of the most prominent ones.

Table of Contents

IoT fleet management Market Research Report

Chapter 1 IoT fleet management Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Production, Revenue (Value), Price Trend by Type

Chapter 7 Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Market Forecast

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