Import Driven Low Cost Fleet Management Market Hindered by Slow Adoption of Technology and Hardware Requirements: Ken Research

“The Government through AIS 140 standards, although mandating the use of vehicle tracking systems in Commercial Vehicles, have not implemented the guidelines effectively, thereby giving scope for non compliance”.

Decreasing Dependence towards Import from China: The Hardware for Fleet Management and Telematics is usually imported from China. Nearly 75%-80% of the import market is dominated by China, with Israel and Lithuania being the other preferred countries. The cost of the hardware post importing is 60% lesser than indigenously manufactured hardware devices. This gap is now declining & in the future it is expected to have a similar price. More Companies are now focusing on manufacturing their own hardware, since in a low cost market such as this, margins from sale of hardware is more than margins from Software product.

Increase in Volume Based Incentives: Companies in this sector, since it is low cost, depend on the volume of fleets that they cater to a single client. Many companies have a minimum benchmark criteria (minimum fleets) in order to accept the demand of the client. In Order to attract more customers, companies are increasing their incentives (offering discounts or value added services) if the customer meets the required number of fleet.

Increasing Focus on Safety and Security: Introduction of AIS 140 standards by the government was done with the main aim of Passenger Safety and Security. Hence the mandate has been towards commercial vehicles and all public transportations. Increased data tracking and technological advancement will bring all CV’s under one common platform & introduction of emergency buttons also increases safety for drivers and passengers. However regulations without proper implementation are rendering these regulations ineffective.

According to a report by Ken Research titled “India Fleet Management Systems Market Outlook to 2025- driven by Introduction of AIS 140 Standards, Increase in use of Artificial Intelligence and Fleet Size” Varied applications with increase in use of IoT, AI and Machine Learning has led to increase in tech adoption in Fleet Management Solutions The market is expected to grow at a positive CAGR of more than 10% during the period 2019-2025.

For More Information, refer to below link:-
https://www.kenresearch.com/technology-and-telecom/it-and-ites/india-fleet-management-systems-market/337073-105.html

Key Segments Covered:-
By Hardware and Software
By Solutions
Vehicle Tracking
Fuel Monitoring
Driver Management
Vehicle Health Monitoring

By Type of Commercial Vehicles
LCV
MCV
HCV

By Type of Transport Vehicles
LMV Freight
LMV Passenger
Trucks
Taxis
Buses
Other Vehicles

By Type of Services
After Sales Service
Claim Inspection Service
Other Services

By Solution Type
Embedded Solutions
Portable Solutions

By Package Type
Entry Level
Mid Level
Advance Level

Companies Covered:-
iTrangle Infotech
Minda iConnect
Intangles
LogiNext
FleetX
LocoNav
Trimble

Key Target Audience:-
Logistics Companies
Fleet Management Companies
Digital Freight forwarders
Private Ventures and Equity Firms
OEM’s
Transport Companies
Fleet Operators

Time Period Captured in the Report:-
Historical Period: 2014–2019
Forecast Period: 2020-2025

Related Reports:-
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/india-logistics-market-outlook-to-2024/335272-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/india-digital-freight-brokerage-market-outlook/335267-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/indonesia-logistics-warehousing-market/187996-100.html

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. Ken Research provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving over 70% of fortune 500 companies globally, some of top consulting companies and Market leaders seek Ken Research’s intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

This release was published on openPR.