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IoT Fleet Management Market Worth $26410 Million by 2027 | Valuates Reports

07-28-2021 11:11 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Valuates Reports

IoT Fleet Management Market Worth $26410 Million by 2027 |

The global IoT Fleet Management market size is projected to reach US$ 26410 million by 2027, from US$ 6955.7 million in 2020, at a CAGR of 21.0% during 2021-2027. One of the key factors driving growth in the IoT fleet management market size is the convergence of smart devices with vehicles. The increasing acceptance by transport companies of smart equipment is predicted to speed up the expansion of the IoT fleet management market size during the forecast period.

The increasing demand for electronic device integration with the vehicles is fuelling the growth of IoT Fleet Management market size. Furthermore, factors such as Internet connectivity, technology advancement, and the need for optimum operational efficiency are expected to increase the IoT Fleet Management market size.

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The key factors driving the growth of the IoT fleet management market are increased demand for optimized business operations, real-time fleet monitoring, and a 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.

View Full Report : https://reports.valuates.com/market-reports/QYRE-Auto-L394/global-iot-fleet-management

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.

Major Players in the IoT Fleet Management Market

o Trimble
o Omnitracs
o Fleetmatics (Verizon)
o AT&T
o IBM
o Teletrac Navman
o TomTom
o Oracle
o Intel
o Cisco Systems
o Sierra Wireless

IoT Fleet Management Market by Type

o Passenger Vehicles
o Commercial Vehicles

IoT Fleet Management Market by Application

o Routing Management
o Tracking and Monitoring
o Fuel Management
o Remote Diagnostics
o Others

IoT Fleet Management Market by Regions

o United States
o Europe
o China
o Japan
o Southeast Asia
o India
o Central & South America.

Similar Reports

Commercial Vehicle Fleet Management System Market: https://reports.valuates.com/market-reports/QYRE-Auto-30Q1629/global-commercial-vehicle-fleet-management-system

Marine Fleet Management Software Market: https://reports.valuates.com/market-reports/QYRE-Auto-4X5970/global-marine-fleet-management-software

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