IoT Fleet Management Market Rise at 22.2% CAGR to 2024 | Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, IBM, Teletrac Navman, TomTom
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.
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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Companies Profiled in this report includes: Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, IBM, Teletrac Navman, TomTom, Oracle, Intel, Cisco Systems, Sierra Wireless
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 2018 and is expected to reach 12700 million USD by the end of 2024, growing at a CAGR of 22.2% between 2019 and 2024.
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.
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.
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Table of Content:
1 IoT Fleet Management Market Overview
2 Manufacturers Profiles
2.1.1 Business Overview
2.1.2 IoT Fleet Management Type and Applications
126.96.36.199 Product A
188.8.131.52 Product B
2.1.3 Trimble IoT Fleet Management Revenue, Gross Margin and Market Share (2017-2018)
2.2.1 Business Overview
2.2.2 IoT Fleet Management Type and Applications
184.108.40.206 Product A
220.127.116.11 Product B
2.2.3 Omnitracs IoT Fleet Management Revenue, Gross Margin and Market Share (2017-2018)
2.3 Fleetmatics (Verizon)
2.3.1 Business Overview
2.3.2 IoT Fleet Management Type and Applications
18.104.22.168 Product A
22.214.171.124 Product B
2.3.3 Fleetmatics (Verizon) IoT Fleet Management Revenue, Gross Margin and Market Share (2017-2018)
3 Global IoT Fleet Management Market Competition, by Players
4 Global IoT Fleet Management Market Size by Regions
5 North America IoT Fleet Management Revenue by Countries
6 Europe IoT Fleet Management Revenue by Countries
7 Asia-Pacific IoT Fleet Management Revenue by Countries
8 South America IoT Fleet Management Revenue by Countries
9 Middle East and Africa Revenue IoT Fleet Management by Countries
10 Global IoT Fleet Management Market Segment by Type
11 Global IoT Fleet Management Market Segment by Application
12 Global IoT Fleet Management Market Size Forecast (2019-2024)
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