IoT Fleet Management Market: Release Latest Trends & Industry Vision By 2021
The
report "IoT Fleet Management Market by Platform
(Device Management, Application Enablement Platform, and Network Management),
Services (Professional, Managed), Cloud Deployment (Public, Private, Hybrid),
Solutions, Fleet Type, and Region - Global Forecast to 2021", The key factors
driving the growth of the IoT fleet management market are increased demand for
optimized business operations, real-time fleet monitoring, and growing number
of government mandates for fleet safety. The IoT fleet management market is
estimated to grow from USD 3.16 Billion in 2016 to USD 8.28 Billion by 2021, at
a CAGR of 21.26% during the forecast period.
The following are the major objectives of the
study.
- To describe and forecast the IoT fleet management market, in terms of value, by solutions, platform, services, and cloud deployment model
- To segment the market for IoT fleet management and forecast the market size, by volume and value, based on fleet type
- To describe and forecast the agriculture equipment market, in terms of value, by region– Americas, EMEA, and Asia-Oceania along with their respective countries.
- To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
- To strategically profile key players and comprehensively analyze their detailing competitive landscape for key market players
- To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the IoT fleet management market
“Routing Management holds the largest share in
IoT Fleet Management market”
Routing management accounted for the largest
share of the IoT fleet management market, by solutions. The growth of this
segment can be attributed to rising global road freight traffic and constant
R&D activities to develop innovative products. According to the Road
Freight Transport Statistics of European Commission (EC), the road freight
transport of European countries increased by 2.2% in 2015, as compared to 2014,
and was the highest in the last five years. Also, the continuous R&D
activities by fleet solution providers to develop advanced products help the
fleet companies to provide the shortest and less crowded route to fleet
vehicles to avoid unnecessary overtime cost. Download the pdf brochure.
“Managed Services estimated to grow at the
highest CAGR during the forecast period”
The managed services segment is expected to
dominate the IoT fleet management market, by services, from 2016 to 2021.
Managed services not only offer flexibility but also allow multiple functions
handling efficiently and, hence, reduce the overall operational cost. These
also help to provide the desired operation as per the client’s specific needs,
resulting in enhanced customer satisfaction. Further, these services allow work
allocation as per the expertise and centralization of various applications with
the data center. Buy
Now.
“The Americas region was expected to lead the
IoT fleet management market in 2016”
The Americas region is expected to hold the
largest share in the IoT fleet management market. The growth of the IoT fleet
management market in this region can be attributed to increasing sales of fleet
vehicles, high adoption rate of advanced technological products, and regulatory
developments by the government. For instance, according to the U.S. Bureau of
Transportation Statistics, the number of fleet vehicles includes vans, SUVs,
and trucks had increased from 11,550 thousand units in 2010 to 12,276 thousand
units in 2015. The increasing number of fleet vehicles propels the demand for
IoT fleet management solutions. Also, some of the Original Equipment
Manufacturers (OEM) in this region such as Volvo Trucks and Daimler Trucks
North America, LLC started offering telematics solutions either independently
or in partnership with fleet solution providers. Further, in 2015, Daimler
Trucks had successfully completed the testing of truck platooning concept.
Also, the U.S. government regulations of Electronic Logging Devices (ELD)
mandate make fleet management solutions a necessary tool for commercial trucks.
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