Smart Fleet Management Market| Benefits Such as Real-time Fleet Monitoring to Boost the Market Growth | Technavio

LONDON--()--The global smart fleet management market size is poised to grow by USD 153.63 billion during 2020-2024, progressing at a CAGR of over 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

Benefits such as real-time fleet monitoring will drive the growth of the smart fleet management market size during the forecast period. The advanced fleet management software (FMS) connects the vehicle’s onboard computer and helps the user in acquiring data such as the vehicle’s mileage and fuel consumption. Moreover, FMS also acts as a vehicle tracking component and connects to a cellular triangulation platform for data acquisition. Additionally, FMS can also track vehicles and transmit necessary information, through terrestrial and satellite tracking. Highly developed vehicle telematics and fleet management systems collect real-time data for fleet and transport managers to efficiently monitor and track the driver.

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Report Highlights:

  • The major smart fleet management market growth came from the roadways transportation segment owing to the growing adoption of roadways for international and domestic transportation. FMS aid fleet companies in managing TCO and complying with stringent carbon emission regulations. Also, consumers are leasing out connected vehicles to monitor vehicle health, driving behavior, and location.
  • APAC was the largest smart fleet management market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The huge number of commercial vehicles and the extensive adoption of fleet management systems will significantly drive smart fleet management market growth in this region over the forecast period.
  • The global smart fleet management market is fragmented. Avnet Inc., Cisco Systems Inc., Continental AG, DENSO Corp., International Business Machines Corp., Oracle Corp., Robert Bosch GmbH, Siemens AG, Speedcast International Ltd., and TomTom International BV. are some of the major market participants. To help clients improve their market position, this smart fleet management market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the global smart fleet management market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Rising Dependence on Software Solutions in Fleet Management and the Growing Popularity of Cold Chain Transportation will be the Key Market Trends

The rising dependence on software solutions in fleet management and the growing popularity of cold chain transportation, major smart fleet management market trends, will also drive market growth. Tracking procurement costs, recording driver and vehicle details, measuring fleet performance through reports and charts, and scheduling maintenance and servicing tasks are some of the tasks that can be eased by adopting fleet management software. The growing transportation of perishable goods through commercial fleets is also increasing the adoption of smart fleet management systems to monitor field resource activities. Such factors will drive market growth.

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Smart Fleet Management Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist smart fleet management market growth during the next five years
  • Estimation of the smart fleet management market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart fleet management market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart fleet management market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces analysis
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Transportation Type

  • Market segments
  • Comparison by Transportation type
  • Roadways - Market size and forecast 2019-2024
  • Railroad - Market size and forecast 2019-2024
  • Marine - Market size and forecast 2019-2024
  • Aviation - Market size and forecast 2019-2024
  • Market opportunity by Transportation type

Customer Landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Avnet Inc.
  • Cisco Systems Inc.
  • Continental AG
  • DENSO Corp.
  • International Business Machines Corp.
  • Oracle Corp.
  • Robert Bosch GmbH
  • Siemens AG
  • Speedcast International Ltd.
  • TomTom International BV

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Global Smart Fleet Management Market will grow by USD 153.63 bn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/