DUBLIN--(BUSINESS WIRE)--The "IoT Fleet Management Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024" report has been added to ResearchAndMarkets.com's offering.
The global IoT fleet management market was valued at around USD 3,250 million in the year 2016 and it is expected to reach approximately USD 15,500 million by 2024. The global IoT fleet management market is expected to grow at a CAGR of over 21.5% between 2017 and 2024.
The major factor driving the growth of IoT fleet management market is the integration of smart devices with vehicles. The introduction of the IoT has made possible the automobiles to perfectly connect with the smart devices, thus making possible real-time traffic alerts and emergency roadside assistance.
The integration of IoT with fleet management helps in remote diagnostics, fuel management, fleet analytics, routing management, tracking and monitoring, vehicle maintenance, drive time analysis, cost- and time-saving, and also fulfills the needs of the client. The increasing adoption of the smart devices by transportation companies is expected to propel the growth of IoT fleet management market over the forecast period.
Moreover, the increasing involvement of government by incorporating regulations on fleet safety and security is expected to propel the growth of the IoT fleet management market.
However, lack of IoT infrastructure in developing countries may hamper the growth of IoT fleet management market. Moreover, poor internet connectivity and lack of technically knowledgeable personnel are other factors that may negatively affect the growth of the market over the forecast period
Segmentation
The device management platform contributed the major share of 39.59% in the IoT fleet management market in 2017 and is expected to keep its dominance over the forecast period. The device management platform gives the facility of remote access, device confirmation, and offers security highlights against malware assaults and hacking.
The professional and managed services are the two major type of services included in the IoT fleet management market. The professional services are expected to register the highest CAGR growth during the forecast period owing to its ability to manage both the operational and service cost of the organization. The professional services help in understanding the company requirements, technical goals, challenges, and it also provides support for developing new products.
The routing management segment is estimated to register the highest CAGR of 23% between 2017 and 2024. Constant RD activities for developing new products and the growing road freight traffic are factors that are contributing to the growth of the segment. The routing management solutions help the fleet providers in planning and monitoring their travel routes which help them in cost-saving owing to which its popularity is increasing in the global market.
The hybrid, private, and public are the three type of cloud deployment model for IoT fleet management. Among them, hybrid deployment model is estimated to contribute the major share in the global market by cloud deployment model type. The hybrid cloud environment comprises of both public and private cloud deployment models which give the flexibility to choose appropriate deployment model as per the consumers need. Thus there is an increasing adoption of hybrid cloud deployment model by the enterprises as it provides security and scalability.
Commercial vehicles (CV) fleet is estimated to register high CAGR during the forecast period. IoT fleet management system is being widely utilized in the commercial vehicles as it helps in monitoring and tracking of the vehicles by providing real-time information about the vehicle, driver, and traffic. Thus the safety and security of the vehicles and the goods that are being transported increases proving beneficial to the business.
The Asia Pacific is estimated to register the highest CAGR growth during the forecasted period. Increasing opportunities in the transport business owing to the flourishing e-commerce market triggers the growth of the IoT fleet management market in the Asia Pacific. North America and Europe are having a significant share in the IoT fleet management market. Availability of the advanced network infrastructure and the growing sales of the commercial vehicles are factors contributing to the growth of the market in these regions.
Industry Players
The report includes detailed profiles of the prominent market players that are trending in the market. The increasing partnership and collaboration between key players of the IoT fleet management are expected to generate immense opportunity for the global market. For instance, in December 2017, Wex Inc. had announced Three-Year Fleet Card Contract with Verizon.
Topics Covered
1. Introduction
1.1. Report description and scope
1.2. Research scope
1.3. Research methodology
1.3.1. Market research process
1.3.2. Market research methodology
2. Executive Summary
2.1. Global IoT Fleet Management market, 2016-2024 (USD Million)
2.2. Global IoT Fleet Management market: Snapshot
3. IoT Fleet Management- Market Dynamics
3.1. Introduction
3.2. Market drivers
3.2.1. Global IoT Fleet Management market drivers: Impact analysis
3.2.2. Integration of smart devices with vehicles
3.2.3. Upcoming regulations on fleet safety and security
3.3. Market Restraints
3.3.1. Global IoT Fleet Management market restraints: Impact analysis
3.3.2. Lack of IoT infrastructure developing countries
3.4. Opportunities
3.4.1. Cloud and Fog Computing Analytics
3.5. Porters five forces analysis
3.6. Market attractiveness analysis
3.6.1. Market attractiveness analysis, by Platform segment
3.6.2. Market attractiveness analysis, by Services segment
3.6.3. Market attractiveness analysis, by Solutions segment
3.6.4. Market attractiveness analysis, by Cloud Deployment Model segment
3.6.5. Market attractiveness analysis, by Fleet Type segment
3.6.6. Market attractiveness analysis, by regional segment
4. Global IoT Fleet Management market - Competitive Landscape
4.1. Company Market Share Analysis
4.1.1. Global IoT Fleet Management market: company market share, 2016
4.2. Strategic Development
4.2.1. Acquisitions Mergers
4.2.2. New tool Launch
4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
4.2.4. Research and Development, Product and Regional Expansion
4.3. Technology Portfolio
5. Global IoT Fleet Management market - Platform Segment Analysis
5.1. Global IoT Fleet Management market: Platform type overview
5.2. Device management
5.3. Application Enablement Platform (AEP)
5.4. Network management
6. Global IoT Fleet Management market - Services Segment Analysis
6.1. Global IoT Fleet Management market: Services overview
6.2. Professional
6.3. Managed
7. Global IoT Fleet Management market - Solutions Segment Analysis
7.1. Global IoT Fleet Management market: Solutions overview
7.2. Drive Time Analysis
7.3. Driver Information System
7.4. Fleet Analytics
7.5. Fuel Management
7.6. Remote Diagnostics
7.7. Routing Management
7.8. Tracking and monitoring
7.9. Vehicle Maintenance
8. Global IoT Fleet Management market - Cloud Deployment Model Segment Analysis
8.1. Global IoT Fleet Management market: Solutions overview
8.2. Hybrid
8.3. Private
8.4. Public
9. Global IoT Fleet Management market - Fleet Type Segment Analysis
9.1. Global IoT Fleet Management market: Solutions overview
9.2. Commercial Vehicles (CV)
9.3. Passenger Cars (PC)
9.4. Public buses
10. Global IoT Fleet Management market - Regional Segment Analysis
10.1. Global IoT Fleet Management market: Regional overview
10.2. North America
10.3. Europe
10.4. Asia Pacific
10.5. Latin America
10.6. Middle East and Africa
11. Company Profiles
11.1. Verizon Communications, Inc.
11.2. Cisco Systems, Inc.
11.3. ATT, Inc.
11.4. Trimble Inc.
11.5. TomTom International BV
11.6. International Business Machines Corp.
11.7. Telefnica, S.A.
11.8. Sierra Wireless, Inc.
11.9. Intel Corporation
11.10. Omnitracs
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