Global IoT Fleet Management Market Growth (Status and Outlook) 2023-2029
A fleet management system is formed by the integration of hardware, software, and communication technologies. It provides a platform to fleet operators to efficiently control, track, and monitor commercial vehicles. They improve the overall operational efficiency by reducing the non-value-added activities of the operators. Fuel cards are used for fuel management while driver safety systems monitor driver behavior. Other solutions are employed for locational tracking of vehicles, driver navigation assistance, and ensuring that the operators meet the regulatory standards set by their respective national governments.
The Internet of Things (IoT) helps in smooth connectivity of all the vehicles in a fleet, which not only helps to gain better insight into the driver's behavior but also assists in monitoring the health of the fleet from any device. Rising demand for fleet safety and data management coupled with the growing need to reduce the total cost of ownership (TCO) and achieve fuel efficiency are anticipated to drive the adoption of IoT technology in fleet management systems.
LPI (LP Information)' newest research report, the “IoT Fleet Management Industry Forecast” looks at past sales and reviews total world IoT Fleet Management sales in 2022, providing a comprehensive analysis by region and market sector of projected IoT Fleet Management sales for 2023 through 2029. With IoT Fleet Management sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world IoT Fleet Management industry.
This Insight Report provides a comprehensive analysis of the global IoT Fleet Management landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on IoT Fleet Management portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global IoT Fleet Management market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for IoT Fleet Management and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global IoT Fleet Management.
The global IoT Fleet Management market size is projected to grow from US$ 8233.3 million in 2022 to US$ 32710 million in 2029; it is expected to grow at a CAGR of 21.8% from 2023 to 2029.
Global IoT Fleet Management main players are Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, etc. Top four companies hold a share above 45%. North America is the largest market, with a share about 35%.
This report presents a comprehensive overview, market shares, and growth opportunities of IoT Fleet Management market by product type, application, key players and key regions and countries.
Segmentation by type
Segmentation by application
Tracking and Monitoring
This report also splits the market by region:
Middle East & Africa
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Please note: The report will take approximately 2 business days to prepare and deliver.
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