Global Smart Fleet Management Market 2018-2022
About Smart Fleet Management
The smart fleet management market is moderately fragmented due to the presence of well-diversified global and regional vendors. International players have competence over smaller players in terms of features and price. The competitive environment is intensified due to widening product extensions, technological innovations, and M&A. FMS providers adopt inorganic growth strategies by acquiring regional or local players. To attain competitive advantage in the car tracking device market, the players must adopt new technologies and offer differentiated products. Based on the transportation type the market can be segmented into roadways, railroad, marine, and aviation. The roadways transportation segments accounts for major shares of the car tracking device market due 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 effectively monitor vehicle health, driving behavior, and location.
Technavio’s analysts forecast the global smart fleet management market to grow at a CAGR of 7% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart fleet management market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of smart fleet.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Fleet Management Market 2018-2022
Technavio recognizes the following companies as the key players in the global smart fleet management market: Bosch, Cisco, Continental, IBM, Siemens, and TomTom.
Other Prominent Vendors in the market are: Globecomm, ORBCOMM, Sierra Wireless, and Trakm8.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing use of software in fleet management solutions. FM software accomplishes tasks such as tracking procurement costs, recording driver and vehicle details, measuring fleet performance through reports and charts, and scheduling maintenance and servicing tasks. SaaS-based model is gaining preference as it can be easily distributed via the Internet.”
According to the report, one of the major drivers for this market is real-time fleet monitoring. Advanced fleet management software (FMS) connects the vehicle’s onboard computer and acquire data such as vehicle mileage and fuel consumption for the user. FMS primarily acts as vehicle tracking component that is GPS-based and connects to cellular triangulation platform for data acquisition. Apart from GPS components, tracking capabilities transmit the necessary information, either through terrestrial and satellite tracking, that provides the users to view real-time locations. Also, highly developed vehicle telematics and fleet management systems collect real-time data for fleet and transport managers, to efficiently monitor and track the driver.
Bosch, Cisco, Continental, IBM, Siemens, TomTom, Globecomm, ORBCOMM, Sierra Wireless, and Trakm8.