Smart fleet management market size is expected to grow at a CAGR of 8.0% during the forecast period. Market is expected to boost the smart fleet management market share during the forecast period. Further, need of high speed network is also expected to fuel the market growth.
Smart Fleet Management Market Overview:
Smart fleet management track vehicles in real time to reduce idle time and transportation costs and thereby increasing the operational efficiency. These functions can be dealt in two ways-first options is an independent in- smart fleet management industry and the second is to outsource the fleet-management.
The data obtained from the fleet management is used to measure operating & maintenance cost of vehicle, make a cost-effective decision or enhance safety or take decisions accordingly. A smart fleet management system is more than a location tracker for trucks and other commercial vehicles.
It also monitors activities and behaviors that can put driver or company’s reputation at risk. Smart fleet management market size is expected to grow at a CAGR of 8.0% during the forecast period.
Short range communication is used to share information with the user regarding traffic jams and is expected to increase the Smart Fleet Management market share in upcoming years. It also assists the user to find the best possible route to avoid collisions.
SFM offers a wide range of applications to user such as fuel management, vehicle location tracking, driver log time management, weather/road conditions monitoring, driving analytics and intelligent routing/tracking among others. SFM Market significantly enhance the aspects of operations by providing ample amount of applications such as operating efficiency, administrative efficiency, safety & compliance and managed services & back office activities.
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Government regulations to curb the environmental pollution is expected to boost the smart fleet management market share during the forecast period. Further, need of high speed network is also expected to fuel the market growth.
However, complex & expensive technology and lack of adaptability in developing nations is anticipated to hamper the market. The smart fleet management market is segmented based on transportation type, connectivity, solution and geography.
Based on transportation type, the market is divided into automotive, rolling stock and marine. By connectivity, the market is categorized into short, long and cloud.
Based on solution, the market is divided into tracking and optimization. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.Significant players operating in the global smart fleet management market are Robert Bosch GmbH, Continental AG, Denso Corporation, Harman International Industries, Inc., Siemens AG, IBM Corporation, Sierra Wireless, Inc., Cisco Systems, Inc., Calamp Corp., and Precious Shipping Public Company Ltd.
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- Government regulations curb to environmental pollutions
- Need of high speed network
- Complex and expensive technology
- Lack of adaptability in developing nations
Market Players:The key players in the smart fleet management market include Robert Bosch GmbH, Continental AG, Denso Corporation, Harman International Industries, Inc., Siemens AG, IBM Corporation, Sierra Wireless, Inc., Cisco Systems, Inc., Calamp Corp., and Precious Shipping Public Company Ltd.KEY TAKEAWAYS
- This Smart Fleet Management industry report provides a detailed quantitative analysis of the current market to identify prevailing opportunities.
- The report provides extensive analysis of smart fleet management market during the forecast period from 2015 to 2025.
- An in-depth smart fleet management industry analysis of the drivers, restraints, and opportunities has been provided to understand the market behavior.
- This report includes the in-depth smart fleet management market survey and smart fleet management industry analysis across various segments.
- The report includes the strategies of key leaders, partnerships, and acquisitions.
- Porters five forces analysis determines the competitive structure of the market to assist in strategy formulation.
- A regional and country-level analysis of the market has been provided in the report.
- Competitive intelligence of leading smart fleet management providers helps understand the competitive scenario across geographies.
- The report provides extensive qualitative insights on the potential and niche segments or regions that exhibit favorable growth.
By Product Type
- Rolling Stock
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA
TOP IMPACTING FACTORSGovernment regulations curb to environmental pollutionsGovernment regulations to reduce carbon footprints is expected to boost the demand of smart fleet management during the smart fleet management market forecast period. 2008 Climate Change Act is world’s first legally binding climate change target that aim to reduce greenhouse gas emissions.
Further, Environmental Protection Agency 40 CFR Part 60 states that a carbon emission performance rate should be recorded for all vehicle to measure the performance of the vehicles.Need of high speed network Surge in demand of high speed network over the years is expected to boost the demand of smart fleet management market. Over the past decade, link speeds have grown steadily from 1 Gb/s to 10 Gb/s and can reach up to now 100 Gb/s.
Several apps have been installed to connect the large customer base to internet. For instance, Government of India partnered with Bharat Petroleum Corporation Limited to launch an android application named Smart Fleet.
It offers a wide range of solutions such as tracking of vehicle, set adhoc limit, CMS balance, email balance statement and complaint portal among others.Complex and expensive networkSince smart fleet management is expensive and difficult to understand, it is expected to hinder the market growth of smart fleet management market during the forecast period. A proper training need to be done to understand the working application of smart fleet management in real life.Lack of adaptability in developing nations Due to complex structure and expensive network of smart fleet management, adaptability of such SFM has witnessed a low growth especially in developing regions.
People find it difficult to access such application and face lot of problems while travelling which leads to collision with other vehicles.
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