IoT Fleet management system allows enterprises to track deliveries in real-time and control vehicle’s connectivity to help businesses collect information about their fleet of vehicles including their speed and location. Global IoT Fleet Management is expected to grow at a CAGR of +21%, in value terms, during the forecast period, on the back of increasing demand for real-time fleet monitoring, high operational efficiencies, upcoming regulations on fleet security and safety. Moreover, increasing focus of companies to reduce operational cost, monitoring driver’s behaviour and fuel efficiency is expected to drive the demand of IoT Fleet Management during the forecast period.
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Global IoT Fleet Management Estimated to Grow at a CAGR of +21% During Forecast Period
Fleet management is a function that helps companies involved in transportation business to minimize or remove the risk associated with productivity, improves efficiency, vehicle investment, and also provides compliance with government legislation. Fleet management also helps to reduce the cost associated with transportation by optimizing cost and efficiency in fleet operations.
Top Companies Profiled in this Report includes, AT&T, Cisco Systems, Verizon Communications, TomTom International BV, Trimble, IBM Corporation, Omnitracs, Sierra Wireless, Intel Corporation, Telefonica
IoT Fleet Management market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors.
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Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.
The major factor driving the growth of IoT fleet management market is the integration of smart devices with vehicles. The introduction of the IoT has made possible the automobiles to perfectly connect with the smart devices, thus making possible real-time traffic alerts and emergency roadside assistance.
The integration of IoT with fleet management helps in remote diagnostics, fuel management, fleet analytics, routing management, tracking and monitoring, vehicle maintenance, drive time analysis, cost- and time-saving, and also fulfills the needs of the client. The increasing adoption of the smart devices by transportation companies is expected to propel the growth of IoT fleet management market over the forecast period.
Various factors are responsible behind the market’s growth trail, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global IoT Fleet Management market.
It also gauges the bargaining power of suppliers and buyers, threat to the new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report.
It studies the market’s trajectory between forecast periods.
IoT Fleet Management market is segmented on the basis of various parameters. The factors which are impacting the market’s growth are studied in detail.
The report also presents a overall weaknesses which companies operating in the market must avoid in order to enjoy sustainable growth through the course of the forecast period. Besides this, profiles of some of the leading players operating and encouraging in the growth of the global market are included in the study.
Additionally, using SWOT analysis, markets weaknesses and strengths are analyzed. It also helps the report provide insights into the opportunities and threats that these companies may face during the forecast period.
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