March 2, 2024

Smart Fleet Management Market to Rising 6.7 Percent Till 2027

[150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global smart fleet management market was valued at around USD 359.16 billion in 2019 and is expected to register revenues worth USD 603.4 billion by the end of 2027, growing at an exceptional CAGR of approximately 6.7% between 2020 and 2027.

Smart Fleet Management

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Smart Fleet Management Market Growth Factors:

Need for high fuel efficiency combined with high speed networks expected to propel the market for smart fleet management. Government regulations and rising demand for connectivity predicted to augment the market growth. Furthermore, reduction of both, operating cost and transportation cost has emerged as a major trend in the automotive sector that encourages the players in the smart fleet management market.

Smart Fleet Management Market Report Scope

Report HighlightsDetails
Market SizeUSD 603.4 Billion by 2027
Growth RateCAGR of 6.7% from 2021 to 2027
Largest MarketAsia Pacific
Fastest Growing MarketNorth America
Base Year2021
Forecast Period2021 to 2027
Segments CoveredHardware, Transportation, Connectivity, Region

Smart Fleet Management Market Report Highlights

  • In 2019, the Asia Pacific occupied maximum market value share in the global smart fleet management market and encountered attractive growth during the analysis period. This is attributed to the increasing transportation facilities in the developing countries such as India, Japan, China, Singapore, Korea, and Malaysia. Furthermore, increasing number of accident cases across the region also significantly boost the requirement for vehicle safety features to curtail the number of deaths due to road accidents across the Asia Pacific, thereby propels the growth of smart fleet management in the region.
  • North America and Europe are other prominent regions that contribute significantly for the revenue share in the global smart fleet management market. Technological advancement and rising demand for electric and autonomous vehicles are some of the prime factors that drive the overall market growth in the regions.
  • In 2019, automotive segment captured maximum market value share in the global smart fleet management market and projected to register the fastest growth over the forecast period. Numerous advantages offered by the connected vehicles such as remote diagnostics, fuel management, remote monitoring, route optimization, vehicle idle time, and predictive maintenance contribute prominently towards the growth of the segment.
  • In terms of hardware, Advanced Driver Assistance System (ADAS) expected to demonstrate the fastest growth over the analysis period. Although, governments of various regions have issued mandatory laws for the adoption of vehicle safety equipment, autonomous car technology has encountered stupendous growth in the recent past and predicted to exhibit the same trend in the coming years. This serves as one of the prime factor for the growth of ADAS segment in smart fleet management market.

Competition Landscape

The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter.

This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach. This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably.

Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.

Read Also@ Automotive VVT System Market Size to Worth Around US$ 87.9 Billion by 2027

some of the prominent players in the smart fleet management market include:

  • Continental AG
  • Sierra Wireless
  • Cisco Systems, Inc.
  • Siemens AG
  • IBM Corporation
  • Tech Mahindra
  • Robert Bosch GmbH
  • Zonar Systems, Inc.

Smart Fleet Management Market Segments

By Hardware

  • Remote Diagnostics
  • Tracking
  • Optimization
  • ADAS

By Transportation

  • Rolling Stock
  • Automotive
  • Marine

By Connectivity

  • Long Range Communication
  • Short Range Communication
  • Cloud

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Regional Analysis

The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region.

This section analyses region-wise revenue and volume for the forecast period of 2019 to 2027. These analyses will help the reader to understand the potential worth of investment in a particular region.

The report provides in-depth segment analysis of the global smart fleet management market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the smart fleet management market.

The report includes country-wise and region-wise market size for the period 2019-2027. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2027.

Why should you invest in this report?

If you are aiming to enter the global smart fleet management market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for smart fleet management are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2019-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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About Us

Precedence Research is a Canada/India based company and one of the leading providers of strategic market insights. We offer executive-level blueprints of markets and solutions beyond flagship surveys. Our repository covers consultation, syndicated market studies, and customized research reports. Through our services we aim at connecting an organization’s goal with lucrative prospects globally.

From gauging investment feasibility to uncovering hidden growth opportunities, our market studies cover in-depth analysis, which also is interspersed with relevant statistics. Recommendation are often enclosed within our reports with the sole intent of enabling organizations achieve mission-critical success.

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Janet Edward

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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