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IoT Fleet Management Market is projected to display a robust growth represented by a CAGR of 22.2% during 2019 – 2024 | Top Key Players - Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, IBM, Teletrac Navman, TomTom, Oracle, Intel, Cisco Systems and Sie

04-05-2019 04:27 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Worldwide Market Reports

IoT Fleet Management

IoT Fleet Management

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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he 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.

Scope of the Report:

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 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.

Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.

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.

Market Segment by Companies, this report covers
Trimble
Omnitracs
Fleetmatics (Verizon)
AT&T
IBM
Teletrac Navman
TomTom
Oracle
Intel
Cisco Systems
Sierra Wireless

Market Segment by Regions, regional analysis covers 
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers
Passenger Vehicles
Commercial Vehicles

Market Segment by Applications, can be divided into
Routing Management
Tracking and Monitoring
Fuel Management
Remote Diagnostics
Others

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About Us:

Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provide our diverse range of clients from across all industries with vital decision making insights to plan and align their market strategies in line with current market trends. Worldwide Market Research’s well-researched inputs that encompass domains ranging from IT to healthcare enable our prized clients to capitalize upon key growth opportunities and shield against credible threats prevalent in the market in the current scenario and those expected in the near future.

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