Business Technology

Smart Fleet Management Market 2019 Global Emerging Technologies, Top Key Leaders, Recent Trends, Industry Growth, Size and Segments by Forecast To 2023

Press Release

The global smart fleet management market is expected to exhibit a strong CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global smart fleet management market is mainly driven by the growing demand for long-distance shipping of various commodities and the growing demand for high levels of technological sophistication in smart fleet management solutions. The growing support from government regulations to smart solutions that make the transportation industry safer is likely to be a major driver for the global smart fleet management market over the forecast period.

Smart fleet management is more than just tracking the locations of the various vehicles in a fleet. In an age of advanced telematics and automated sensors, the smart fleet management market is evolving into a new beast altogether. The high-end smart fleet management solutions in the market at present go so far as offering a connection with the onboard driver assistance module of the vehicle, which allows the parent company to track the specific driving habits of the driver, allowing them to discover and eliminate unsafe or illegal practices at the root cause. Such innovations are likely to provide the smart fleet management market with significant prospects for growth over the forecast period, as the demand for such premium solutions is expected to grow smoothly over the forecast period.

The growing demand for long-distance shipping of various products, including for the food and beverage, steel and metalworking, and construction industries, is likely to be a major driver for the global smart fleet management market over the forecast period.

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Competitive Analysis:

The global smart fleet management market is dominated by companies such as Globecomm Systems Inc., Precious Shipping Co. Ltd., OTTO Marine Ltd., CalAmp Corp., Sierra Wireless Inc., Cisco Systems Inc., Continental AG, IBM Corporation, Denso Corporation, Siemens AG, Robert Bosch GmbH, and Harman International Industries Inc.

In April 2019, CalAmp acquired Synovia Solutions, a leading provider of fleet tracking solutions and a longtime collaborator with CalAmp.

Segmentation:

The global smart fleet management market is segmented on the basis of transportation type, hardware, solution, and region.

By transportation type, the global smart fleet management market is segmented into automotive, rolling stock, and marine.

By hardware, the global smart fleet management market is segmented into tracking, optimization, ADAS, and diagnostic.

By solution, the global smart fleet management market is segmented into tracking and optimization.

Regional Analysis:

Asia Pacific is likely to retain a major share in the global smart fleet management market over the forecast period. The growing urbanization and industrialization in Asia Pacific has driven the demand for smart, efficient tracking mechanisms for shipping companies. The steady improvement in transportation facilities and infrastructure in countries such as China, India, Indonesia, Malaysia, and Singapore is likely to be a major driver for the global smart fleet management market over the forecast period. The growing number of software development companies in the region and the growing research prospects in the Internet of Things (IoT) are also likely to be a major driver for the smart fleet management market in Asia Pacific over the forecast period, as this is likely to enable smooth incorporation of technological advances into the practical solutions.

Growing government support for solutions that make transportation safer and more reliable across the board is likely to be a major driver for the smart fleet management solutions market in Asia Pacific. Driver safety has become a major topic in transportation applications over the last few years, with several governments issuing supportive regulations that could enable strong progress of the smart fleet management market over the forecast period.

North America and Europe are also likely to hold on to major shares in the global smart fleet management market over the forecast period due to the early mover advantage, which has seen widespread installation of advanced smart fleet management solutions in these regions.

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This post was originally published on The Market Plan