The global Smart Fleet Management marketis expected to grow at the highest CAGR of 6.7% from 2020 – 2027 and the market is projected to generate $ 603.4 billion by 2027.
Precedence Research, Recently Published Report on “Smart Fleet Management Market Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2020 - 2027”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
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.
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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.
Regional Snapshots
The Asia Pacific is an eye catching region in the global smart fleet management market. The region dominated the global market in 2019 and projected the fastest growth over the analysis period. Increasing number of road accidents and numerous initiatives taken by the government pertaining to implementation of driver safety features to curb the number of increasing accidents expected to boost the demand for smart fleet management system. Japan, China, India, Singapore, Korea, Malaysia, and other developing countries in the region are prominently investing for the transformation of fleet into smarter. This will helps the region to efficiently tune the mobility traffic with the carbon emission, thereby achieving the air quality standard in the region.
Besides this, North America and Europe are the other prominent markets and cater prominent value share in the global smart fleet management market. Increasing consumer preference towards smart and battery-powered vehicles significantly drives the smart fleet management market. Furthermore, existence of favorable infrastructure to support the smart fleet management system is the other major factor propelling the market growth.
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Key Players & Strategies
The global smart fleet management market is highly competitive due to the presence of major market players. In addition, the market participants are continuously upgrading their products and offerings to sustain their competitive edge. They also invest in the research & development activity to cater the fast-changing need of the customer. Some of the players also focus towards inorganic growth strategy such as merger & acquisition, partnership, collaboration, and joint venture to extend their portfolio in the market value chain.For instance, in October 2016, Continental AG acquired Zonar Systems, Inc., fleet management vendor, to extend its presence in the United States as well as to expand its mobility service portfolio.
Some of the key players operating in the market are Continental AG; Sierra Wireless; Cisco Systems, Inc.; Siemens AG; IBM Corporation; Tech Mahindra; Robert Bosch GmbH; and Zonar Systems, Inc. among others.
Market Segmentation
By Hardware
- Remote Diagnostics
- Tracking
- Optimization
- ADAS
By Transportation
- Rolling Stock
- Automotive
- Marine
By Connectivity
- Long Range Communication
- Short Range Communication
- Cloud
By Regional
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Smart Fleet Management Market, By Hardware
7.1. Smart Fleet Management Market, by Hardware Type, 2020-2027
7.1.1. Remote Diagnostics
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Tracking
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Optimization
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. ADAS
7.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Smart Fleet Management Market, By Transportation
8.1. Smart Fleet Management Market, by Transportation, 2020-2027
8.1.1. Rolling Stock
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Automotive
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Marine
8.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Smart Fleet Management Market, By Connectivity
9.1. Smart Fleet Management Market, by Connectivity, 2020-2027
9.1.1. Long Range Communication
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Short Range Communication
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Cloud
9.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 10. Global Smart Fleet Management Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.1.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.1.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.2.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.2.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.3.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.3.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.4.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.4.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.5.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.5.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Connectivity (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Hardware (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Transportation (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Connectivity (2016-2027)
Chapter 11. Company Profiles
11.1. Continental AG
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Sierra Wireless
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Cisco Systems, Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Siemens AG
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. IBM Corporation
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Tech Mahindra
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Robert Bosch GmbH
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Zonar Systems, Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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