IoT Fleet Management Market to Grow at CAGR of 20.0% by 2025: Trends, Opportunity, Key Drivers

As per the projections provided by the fresh TMR study, the demand in the global market for the Internet of Things (IoT) fleet management will escalate at a highly impressive CAGR of 20.0% during the forecast period of 2017 to 2025. The report evaluates that the IoT fleet management market, across the globe, was worth merely US$3,340.0 mn in 2016, and estimates it to reach a valuation of US$15,870.0 mn by the end of the forecast period.

Global IoT Fleet Management Market: Overview

The Internet of Things 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 global IoT fleet management market has been segmented on the basis of cloud type, application and fleet type. The market has been further segmented by geography broadly into five major regions, namely: North America, Europe, Middle East and Africa (MEA), Asia Pacific (APAC) and Latin America.

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Global IoT Fleet Management Market: Trends and Opportunities

The primary factor that is driving the growth of the global IoT fleet management market is growing demand for operational efficiency. Though the logistics companies have connectivity options such as GPS sensors and mobile phones, the Internet of Things offers several new tools, such as driver mobile applications and in-vehicle steaming cameras, to make communications prompt and easier. Some of the additional benefits offered by IoT include vehicle and driver tracking, scheduling, effective routing and load management. Additionally, decreasing theft and unauthorized use coupled with preventive maintenance of fleets that can be achieved by the deployment of the Internet of Things in fleet management is influencing the growth of the global market positively. Thus, the conjoint effect of all these drivers is projected to strongly bolster the growth of the global IoT fleet management market in the coming years from 2017 - 2025.

Increasing concerns about driver privacy and lack of IoT awareness and infrastructure could pose to be threats to the growth of the global IoT fleet management market. However, the growing advancements in cloud computing analytics and deployment of fog layer in the Internet of Things is facilitating the speedy adoption of IoT in fleet management and offering lucrative opportunities to the growth of the global market. Moreover, the developing nations of Asia Pacific, Latin America and Middle East and Africa are also offering potential growth opportunities for the expansion of the market in these regions during the forecast period.

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Global IoT Fleet Management Market: Competitive Landscape

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. In addition to these, the report also includes an exhaustive SWOT analysis of each of the players to identify and analyze their positioning in the market further. Additionally, the report offers the market attractiveness analysis of the segment, cloud type in order to offer a comprehensive insight into the most attractive cloud type in the present market scenario. The market dynamics of the IoT fleet management market which have also been analyzed exhaustively under the scope of the report includes market drivers, restrains and the key opportunities. Therefore, the report on global IoT fleet management market provides a thorough and in depth study of the global market along with providing the market revenue forecast for the period to 2017 to 2025.

Some of the key players operating in the IoT fleet management market globally include IBM Corporation, AT&T, Inc., Intel Corporation, Verizon Communications, Inc., Oracle Corporation, Cisco Systems, Inc., TomTom International BV, Sierra Wireless, Trimble Inc., and Omnitracs LLC among others.

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The global IoT fleet management market has been segmented into:

IoT Fleet Management Market, by Cloud Type

Public
Private
Hybrid
IoT Fleet Management Market, by Application

Routing Management
Tracking and Monitoring
Fuel Management
Remote Diagnostics
Others
IoT Fleet Management Market, by Fleet Type

Passenger Vehicles
Commercial Vehicles
IoT Fleet Management Market, by Geography: The market is broadly segmented on the basis of geography into:

North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
Latin America
Brazil
Rest of Latin America

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