IoT Fleet Management Market Poised for Remarkable Growth by 2032

The global IoT fleet management market (IoT 차량 관리 시장) is forecasted to exceed a value of US$ 7.3 billion in 2022 and is anticipated to reach US$ 22.2 billion by 2032. This growth is expected to occur at an impressive compound annual growth rate (CAGR) of 11.8% between 2022 and 2032. A key driver of this growth is the increasing need to reduce fuel emissions and enhance the operational efficiency of fleets. IoT fleet management software enables drivers to optimize routes, identify congested areas, perform predictive maintenance, and undertake other tasks that contribute to improved fuel efficiency. Additionally, government mandates aimed at enhancing fleet safety standards are playing a significant role in driving market growth. The rising number of road fatalities caused by traffic congestion is prompting governments worldwide to enact stricter regulations, thereby fostering the adoption of IoT fleet management systems.

Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=7277

The growth of the IoT fleet management market is propelled by several key drivers:

The increasing integration of advanced technology in electric vehicles, coupled with their compatibility with smartphones, is anticipated to drive market growth. These technological advancements enhance the efficiency and effectiveness of fleet management systems, contributing to their adoption. There is a growing need for real-time fleet monitoring, driven by the rapid digitization occurring within the automotive industry. This trend emphasizes the importance of leveraging IoT solutions to optimize fleet operations and improve overall efficiency. Government authorities are increasingly implementing Mobility-as-a-Service (MaaS) initiatives to reduce carbon emissions and alleviate traffic congestion. Such initiatives create opportunities for the adoption of IoT fleet management solutions, as they facilitate the efficient management of vehicle fleets within these mobility ecosystems.

List of Key Companies Profiled in The Report

IBM Corporation
AT&T Inc.
Intel Corporation
Verizon Communications Inc.
Oracle Corporation
Others
Key Takeaways

North America is poised to dominate the global IoT fleet management market (Рынок управления автопарком IoT) throughout the forecast period, holding the largest share. Within North America, the U.S. is expected to contribute significantly, with its IoT fleet management market projected to reach a valuation of US$ 5.2 billion between 2022 and 2032.

In terms of application, the routing management segment is anticipated to lead the market, demonstrating robust growth at a CAGR of 11.2% during the projected period. This underscores the importance of efficient route planning and management in enhancing fleet operations.

When considering the type of deployment, the private cloud category is forecasted to register notable growth, with a CAGR of 12.4% expected during the forecast period. This indicates a preference for private cloud solutions among fleet management stakeholders.

Japan is forecasted to witness a significant increase in the sales of IoT fleet management systems, with a projected CAGR of 12.5% over the assessment period. Similarly, the U.K. market is expected to experience a surge in demand, with a projected CAGR of 12.8% between 2022 and 2032. These trends highlight the global adoption and growth potential of IoT fleet management solutions across diverse geographical regions.

Want Full Report? Enquire Here-https://www.factmr.com/report/iot-fleet-management-market

Competitive Landscape

Major players in the global IoT fleet management sector are intensifying their focus on advanced research and development to enhance their product offerings. These players are actively engaging in collaborations with diverse technology providers to elevate fleet management capabilities, incorporating advanced GPS functionalities and providing comprehensive insights. Furthermore, strategic partnerships, mergers, and acquisitions with various car manufacturers have become a trend among key players, aiming to deliver more sophisticated fleet management solutions. Recent noteworthy developments within the competitive landscape include:

In January 2020, Geotab Inc. unveiled 'UNIFY' through a strategic partnership with Eleos Technologies in CA, a Software-as-a-Service provider specializing in transportation. The UNIFY platform is designed to deliver tailored fleet management systems and Federal Motor Carrier Safety Administration (FMCSA)-compliant Electronic Logging Device (ELD) solutions, offering improved functionality and insights.

In December 2021, GPS Insight made a strategic move by acquiring FieldAware, a field service automation software developer. This acquisition expands GPS Insight's portfolio to include field service automation, telematics software, and fleet management solutions, showcasing the company's commitment to providing comprehensive offerings in the IoT fleet management market.

The IoT Fleet Management market is at the forefront of transforming traditional fleet operations into connected, data-driven ecosystems. As technology continues to evolve, the market is poised for sustained growth, offering solutions that not only address current operational challenges but also anticipate the future needs of fleet operators. From optimizing routes to ensuring driver safety and reducing environmental impact, IoT Fleet Management is set to play a pivotal role in shaping the future of transportation and logistics.

Contact:

US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com

About Fact.MR:

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

This release was published on openPR.