Smart Fleet Management Market Research Report - Global Forecast To 2030

Smart Fleet Management Market Information Report by Transportation (Automotive, Rolling Stock, Marine), by Hardware (Tracking, Optimization, ADAS, and Diagnostic), by Solution (Tracking and Optimization), and by Regions - Global Forecast To 2030

ID: MRFR/AM/3788-HCR | February 2021 | Region: Global | 111 pages         

Smart Fleet Management Market

Smart Fleet Management Market is grow at a significant CAGR of 15%. the market revenue will reach up to 600 Billion by forecast period 2022-2030

Segmentation

By Solutions Optimization Tracking
By Hardware Optimization ADAS Tracking Diagnostic
By Connectivity Long-Range Communication Short Range Communication Cloud Communication
By Transportation Marine Rolling Stock Automotive

Key Players

  • Harman International Industries Inc.
  • Robert Bosch GmbH.
  • Siemens AG
  • Denso Corporation
  • IBM Corporation
  • Continental AG
  • Cisco Systems Inc.
  • Sierra Wireless Inc.
  • Calamp Corp.
  • OTTO Marine Ltd.
  • Precious Shipping Co. Ltd.
  • Globecomm Systems

Drivers

  • Higher fuel efficiency in vehicles combined
  • High speed networks
  • Reduction of both Transportation cost and operating cost
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Smart Fleet Management Market Overview


The Smart Fleet Management Market is evaluated to grow at a significant CAGR of 15%. It is anticipated that the market revenue will reach up to 600 Billion in the studied forecast period 2022-2030. The smart fleet management system helps operators to keep the track of several things. Hence, they can check the fuel consumption, route management, and maintenance. Hence, the operators can make the right decision that is cost-effective as well. Furthermore, they are also cost-effective.


Hence, the automotive companies are also focusing on this system to improve fuel efficiency. Furthermore, governments of India as well as China are playing a major role in pushing the Smart Fleet Management Market growth extensively. Therefore, the market will have a propelling growth in the future years.


COVID-19 Analysis


The COVID-19 disease caused immense havoc in the business and healthcare sectors. Hence, the automotive industry was highly impacted due to the pandemic. Manufacturing and dealerships of automobile companies were shut temporarily for several months of 2020. However, after the lockdown, the companies started to work on these developments with new technologies. Hence, as the cases of coronavirus will reduce, the Smart Fleet Management Market Growth will improve simultaneously.


Market Dynamics


Drivers


The increasing demand for better connectivity is driving the market. Also, the rising support by the governments with new regulations will further boost the Smart Fleet Management Market Growth.


Restraints


The high costs required to develop smart fleet management systems are speculated to hinder the market growth.


Opportunities


However, the reduction in transportation, as well as operational costs, will offer new opportunities for market growth. Also, major developments by the key players to provide improved technologies will be beneficial for the Smart Fleet Management Industry.


Challenges


Moreover, the gradual increase in the travel routes and the fleet sizes can increase complexity. Also, the low availability of skilled professionals to handle the complex situation can extensively slow down market growth.


Cumulative Growth Analysis


The Compound Annual Growth Rate (CAGR) of the Smart Fleet Management Market is projected to rise by 15%. It is expected that the Smart Fleet Management Market Value will further increase up to USD 600 Billion during the studied forecast period 2022-2030. Significant drivers such as increasing demand for better connectivity will improve the market growth. Along with that, the ne and strict regulations by the governments, especially in China and India, to implement these systems will further enhance the Smart Fleet Management Market Value. 


Value Chain Analysis


Subsequently, the significant players will have a major role in improving the value chain of the Smart Fleet Management Market. The integration of new systems such as Artificial Intelligence will help in reducing fuel costs and consumption. Along with that, the increasing demand for these systems in Asia-Pacific will improve the value chain.


Segment Overview


The Smart Fleet Management Market Size is divided into different segments. These segments are Solutions, Transportation, Hardware, Connectivity and Region.


Based on Hardware, the Smart Fleet Management Market Size is segmented into Optimization, ADAS, Tracking, and Diagnostic.


Based on Solutions, the Smart Fleet Management Industry is again bifurcated into Optimization and Tracking.


Based on Transportation, the Smart Fleet Management Market is again divided into Marine, Rolling Stock, and Automotive.


Furthermore, based on Connectivity, the market is segmented into Long-Range Communication, Short Range Communication and Cloud.


Based on Region, the market is segmented into Europe, North America, Asia-Pacific, Latin America, and Africa and the Middle East.


Regional Analysis


Based on region, the Smart Fleet Management Size is divided into Europe, North America, Asia-Pacific, Latin America, and Africa and the Middle East. It is evaluated that the Asia-Pacific region will hold the largest Smart Fleet Management Market Share. Hence, it will provide various lucrative opportunities for market growth. The increasing improvement in transportation facilities and regulations by the governments are the crucial drivers for the exponential growth. Also, the governments in China and India are asking the manufacturers to implement these systems in the vehicles.


However, North America, as well as Europe, will also experience rapid growth. The presence of advanced infrastructure and sophisticated technologies will boost the Smart Fleet Management Market Revenue. Also, the increase in the commercial fleets in the US and European countries will improve the customer base to use the smart fleet management system. Also, countries in Africa and the Middle East will have a prominent growth in the future years.


Competitive Landscape


The Smart Fleet Management Industry is fragmented. There are several key players that are focusing on improving market growth. Hence, they do various strategic improvements such as mergers, acquisitions, partnerships, collaborations, and many more. Hence, some of the key players are in the Smart Fleet Management Market are as follows.



  • OTTO Marine Ltd. (Singapore)

  • Cisco Systems (US)

  • Siemens AG (Germany)

  • Robert Bosch GmbH (Germany)

  • Globecomm Systems Inc. (US)

  • IBM Corporations (US)

  • Denso Corporation (Japan)

  • Continental AG (Germany)

  • Calamp Corp. (US)

  • Sierra Wireless Inc. (Canada)

  • Precious Shipping (Thailand)

  • Hyundai Motors (South Korea)

  • Infineon Technologies AG (Germany)

  • General Motors (US)


Recent Developments



  • Siemens, in 2021 announced its initiative for launching the new model of the fleet. It will also design an app for the cars of its company that its executives use.


Report Overview


The overview of the Smart Fleet Management Industry is as follows.



  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development


Report Score and Segmentation



  • Study Period- 2022-2030

  • Base Year- 2021

  • Forecast Period- 2022-2030

  • Historical Period- 2019-2020


The report score is to provide information about Smart Fleet Management Market. It highlights information such as CAGR, drivers, challenges, opportunities, recent developments, etc. Also, the information provided in this report is collected from various primary and secondary sources.


Segmentation


By Solutions


  • Optimization

  • Tracking


By Hardware


  • Optimization

  • ADAS

  • Tracking

  • Diagnostic


By Connectivity


  • Long-Range Communication

  • Short Range Communication

  • Cloud Communication


By Transportation


  • Marine

  • Rolling Stock

  • Automotive


By Region


  • Europe

  • North America

  • Asia-Pacific

  • Latin America

  • Africa and the Middle East



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   Substantial CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Technology, By Transportation, By Application, By Vehicle type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Harman International Industries, Inc., Robert Bosch GmbH., Siemens AG, Denso Corporation, IBM Corporation, Continental AG, Cisco Systems, Inc., Sierra Wireless, Inc., Calamp Corp., OTTO Marine Ltd., Precious Shipping Co. Ltd., and Globecomm Systems
  Key Market Opportunities

  • Higher fuel efficiency in vehicles combined
  • High speed networks
  •   Key Market Drivers   Reduction of both, transportation cost and operating cost


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    Frequently Asked Questions (FAQ) :

    The market value of the Smart Fleet Management Market is expected to reach up to USD 600 Billion in the studied forecast period.

    The revenue levels are expected to rise favorably in the forecast period.

    The Smart Fleet Management Market is evaluated to grow at a significant CAGR of 15% in the studied forecast period.

    The Smart Fleet Management Market has the presence of various key players. They play a major role in improving market growth. Some of the major key players in the market are OTTO Marine Ltd. (Singapore), Cisco Systems, Siemens AG (Germany), Robert Bosch GmbH (Germany), Globecomm Systems Inc. (US), IBM Corporations (US), Denso Corporation (Japan), Continental AG (Germany), Calamp Corp. (US), Sierra Wireless Inc. (Canada), Precious Shipping (Thailand), Hyundai Motors (South Korea), Infineon Technologies AG (Germany), General Motors (US).

    The benefit of a reduction in transportation and operating costs are estimated to benefit the market.