Global Smart Fleet Management Market Overview:
Smart fleet management is the integration of fleet management technology used to monitor, maintain, and achieve the most effective fleet operations. In addition to driver safety, telematics, tracking, and intelligent surveillance, it offers digital technology applications for maintenance and fuel management. Smart fleet management has become increasingly popular in recent years due to its ability to provide real-time warnings, critical alerts, driver behavior, anti-theft notifications, and safety alerts. Additionally, employing smart fleet management improves safety, guarantees compliance, and reduces cost. Real-time tracking by intelligent fleet managers helps to cut down on idle time and transportation expenses, improving fleet management's operational effectiveness.
|Unit||Value (USD Million)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
Increase in use of cloud-based technology for smart fleet management solutions and Enhance vehicle monitoring and fuel management
Market Growth Drivers:
Rising Adoption of Solutions to Increase driver safety by identifying and rectifying unsafe behaviors on the road and Integration of real-time fleet monitoring systems in vehicles
High Cost and Quality Issue and Growing Safety and Security Threats
Price concerns of fleet owners, Cyber security concerns, Complex and Expensive Technology and Lack of Adaptability in Emerging Nations
Fleets Integration with Artificial Intelligence and Development of an intelligent transportation system
Global Smart Fleet Management is a fragmented market due to the presence of various players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Robert Bosch GmbH (Germany), Siemens AG (Germany), Sierra Wireless, Inc. (Canada), IBM Corporation (United States), Continental Ag (Germany), Cisco Systems, Inc (United States), Calamp Corp. (United States), Denso Corporation (Japan), Harman International Industries, Inc. (United States) and Otto Marine Limited (Malaysia). Additionally, following companies can also be profiled that are part of our coverage like Precious Shipping Public Company Ltd. (Thailand), Jutha Maritime Public Company Limited (Singapore), Orbcomm, Inc. (United States) and Globecomm Systems, Inc. (United States). Considering Market by Connectivity, the sub-segment i.e. Cloud will boost the Smart Fleet Management market. Considering Market by Mode of Transportation, the sub-segment i.e. Automotive will boost the Smart Fleet Management market. Considering Market by Solution, the sub-segment i.e. Tracking will boost the Smart Fleet Management market.
Latest Market Insights:
In June 2022, Siemens Smart Infrastructure (SI) signed an agreement to acquire Brightly Software, a leading U.S.-based software-as-a-service (SaaS) provider of asset and maintenance management solutions, worth USD 1.575 billion. The acquisition elevates SI to a leading position in the software market for buildings and built infrastructure.
In November 2021, the world's largest automaker, Volvo India, recently presented awards for sustainability and smart energy management to a number of individuals from business, academia, government, and other sectors. Tech Mahindra received the 2021 Volvo India Innovation Award during the Volvo India Innovation Summit in Bengaluru for its cutting-edge energy and fleet management solutions for the Indian market.
What Can be Explored with the Smart Fleet Management Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Smart Fleet Management Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Smart Fleet Management
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Fleet Management market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Fleet Management market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Smart Fleet Management Developers, Smart Fleet Management Providers, Potential Investors, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.