The global Smart FleetManagement Market expected to gain significant momentum during the forecast
period 2019-2027, owing to a rise in demand for smart fleet management for
vehicle tracking and monitoring, fuel management, remote diagnostics, and
driver performance tracking and monitoring. Smart fleet management helps get
current maintenance and maintenance information of the vehicle at any time to
improve the efficiency of vehicle maintenance work and reduce downtime. The
fleet safety and security in cargo and passenger transportation benefits such
as real-time monitoring, geo-fencing, diagnostic functions, etc. in rail,
automotive, and marine transportation contribute to the growing demand for
smart fleet management market.
The global Smart Fleet Management market will bolster by the growing demand for AI and IoT based technology for smart fleet management solutions such as real-time monitoring tracking, monitoring, and enhanced safety and security. Additionally, smart fleet management uses data to connect each truck, cargo owner, capacity owner, and driver to improve the efficiency of transportation services and make logistics more economical, efficient, safer, and more environmentally friendly. Moreover, governments from various developing countries have initiated smart fleet management technologies to reduce energy consumption, curtail carbon emissions, and avoid road congestions.
Further, the growing demand for fuel efficiency in vehicle operations, along with the need for high-speed networks estimated to bolster the global smart fleet management market during the forecast period.
Transportation Overview in the Global Smart Fleet Management Market
Based on transportation, the global Smart Fleet Management Market categorized into Automotive, Rolling Stock, and Marine. The Automotive segment expected to dominate the global Smart Fleet Management market owing to the benefits for the fleet owner so that they can optimize their fleet operations and reduce business risks.
Hardware Overview in the Global Smart Fleet Management Market
Based on the hardware, the Global Smart Fleet Management Market classified into Tracking, Optimization, ADAS, Remote Diagnostic, and Others. The Advanced Driver Assistance Systems (ADAS) segment projected to generate maximum revenue due to the promotion of safety regulation by various developing countries for vehicular safety, and the rapid adoption of autonomous vehicle technologies.
Connectivity Overview in the Global Smart Fleet Management Market
Based on Connectivity, the Global Smart Fleet Management Market segregated into Short, Long, and Cloud. The Long-range segment will dominate the market on account of the smart fleet to provide vehicular safety by triggering safeguard measures and avoiding collisions.
Regional Overview in the Global Smart Fleet Management Market
Based on the region, the Global Smart Fleet Management Market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific anticipated generating maximum revenue in the global Smart Fleet Management owing to the application for smart fleet management to real-time monitoring and traction of shipments along with the huge surge in international free trade across the globe.
Global Smart Fleet Management Market: Competitive Landscape
Companies such as Continental AG, Denso Corporation, Robert Bosch GmbH, IBM Corporation, Harman International Industries, Inc., Siemens AG, Cisco Systems, Inc., Sierra Wireless, Inc., Calamp Corp., OTTO Marine Ltd, Globecomm Systems, Inc., and Precious Shipping Company Public Limited are the key players in the Global Smart Fleet Management Market.
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