Global Smart Fleet Management Market Size, Trends and Growth Opportunity, By Mode of Transport (Automotive, Rolling Stock, Marine), Hardware (Tracking, Optimization, Advanced Driver Assistance Systems (ADAS), Remote Diagnostics), Connectivity (Short Range Communication, Long Range Communication, Cloud), Solutions (Vehicle Tracking, Fleet Optimization) By Region and forecast till 2027.
Report ID : IR1001119 | Industries : Automotive and Transportation | Published On :May 2024 | Page Count : 245
Global Smart Fleet Management Market Size, Trends and Growth Opportunity, By Mode of Transport (Automotive, Rolling Stock, Marine), Hardware (Tracking, Optimization, Advanced Driver Assistance Systems (ADAS), Remote Diagnostics), Connectivity (Short Range Communication, Long Range Communication, Cloud), Solutions (Vehicle Tracking, Fleet Optimization) By Region and forecast till 2027.
Global Smart Fleet Management Market
Global Smart Fleet Management Market was valued at USD 44,989.78 Million in 2021 and is slated to reach at USD 98,656.5 Million by 2027 at a CAGR of 11.46 % from 2022-2027.
Smart fleet management is the integration of fleet management technologies that are widely used for managing, maintaining, and achieving the most efficient fleet operations. The technology enables the use of digital technology in fuel management, maintenance, telemetric, smart surveillance, telemetric, and tracking.
Market Drivers
One of the major factors driving the growth of the smart fleet management market is the rapid digitalization of vehicles. The market benefits from the need to improve productivity, profitability at lower costs, and operational efficiency. The increased fleet size of transportation and logistics companies necessitates smart fleet management for vehicle security and timely delivery, which further influences the market. Government regulations and initiatives aimed at creating a more reliable and secure transportation network also have an impact on the market. These rules encourage the development of intelligent transportation systems. Furthermore, increased investment, increased disposable income, and the expansion of the automotive sector all benefit the smart fleet management market.
Market Restraints
Complex and expensive technology, as well as a lack of adaptability in developing countries, are expected to stymie market growth. In addition, cost and quality challenges, as well as safety and security threats, are expected to challenge the smart fleet management market during the forecast period of 2022-2027.
Impact of COVID-19
Because of the commute restrictions, COVID-19 had a negative impact on the global smart fleet management market. Regulatory and policy changes, working capital management, supply chain execution, and labor dependency were all challenges for the market. Organizations, on the other hand, prepared strategic cost-cutting plans to deal with the pandemic's impact. To manage and cater to the continuous supply of essentials in the post-pandemic scenario, the demand for smart fleet management hardware and managing software has increased.
Recent Developments
MiX Telematics extended its contract with SGESCO-MAX, an Australian logistics company, in October 2021. The company has decided to continue working with MiX Telematics based on the positive effects of deploying MIX's cutting-edge technology across 3,700 automobiles and assets in their organisation.
Cisco System Inc. introduced App-Dynamics Cloud in June 2021 to deliver exceptional digital experiences.
Ctrack will launch PC Secure as an innovation in October 2021. Devices can be monitored and recovered using Ctrack PC Secure in the same way that stolen cars and other assets have been for the past 30 years. Ctrack PC Secure uses cutting-edge software to make any laptop or desktop visible so that Ctrack can recover stolen devices.
Market Segmentation
Global Smart Fleet Management Market is segmented into By Mode of Transport, Hardware, Connectivity, Solutions. By Mode of Transport such as Automotive, Rolling Stock, Marine. By Hardware such as Tracking, Optimization, Advanced Driver Assistance Systems (ADAS), Remote Diagnostics. By Connectivity such as Short Range Communication, Long Range Communication, Cloud. By Solutions such as Vehicle Tracking, Fleet Optimization.
Regional Analysis
Global Smart Fleet Management Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. Because of its advanced infrastructure and sophisticated technologies, North America dominates the smart fleet management market. Due to an increase in commercial fleets in the region, Asia-Pacific (APAC) is expected to experience significant growth from 2022 to 2027.
Key Players
This report includes a list of numerous Key Players, namely Precious Shipping Public Company Limited (Thailand), Otto Marine Limited (Singapore), JUTHA MARITIME (Thailand), Globecomm Systems Inc. (US), Robert Bosch GmbH (Germany), TomTom International BV. (Netherlands), Trakm8 Limited (UK), BMW (Germany), CHAINWAYTSP CO., Ltd (China), Sierra Wireless (Canada).
Market Taxonomy
By Transport
• Automotive
• Rolling Stock
• Marine
By Hardware
• Tracking
• Optimization
• Advanced Driver Assistance Systems (ADAS)
• Remote Diagnostics
By Connectivity
• Short Range Communication
• Long Range Communication
• Cloud
By Solutions
• Vehicle Tracking
• Fleet Optimization
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa.
Global Smart Fleet Management Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Smart Fleet Management Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Smart Fleet Management Market, By Transport
5.1 Y-o-Y Growth Comparison, By Transport
5.2 Global Smart Fleet Management Market Share Analysis, By Transport
5.3 Global Smart Fleet Management Market Size and Forecast, By Transport
5.3.1 Automotive
5.3.2 Rolling Stock
5.3.3 Marine
6 Global Smart Fleet Management Market, By Hardware
6.1 Y-o-Y Growth Comparison, By Hardware
6.2 Global Smart Fleet Management Market Share Analysis, By Hardware
6.3 Global Smart Fleet Management Market Size and Forecast, By Hardware
6.3.1 Tracking
6.3.2 Optimization
6.3.3 Advanced Driver Assistance Systems (ADAS)
6.3.4 Remote Diagnostics
7 Global Smart Fleet Management Market, By Connectivity
7.1 Y-o-Y Growth Comparison, By Connectivity
7.2 Global Smart Fleet Management Market Share Analysis, By Connectivity
7.3 Global Smart Fleet Management Market Size and Forecast, By Connectivity
7.3.1 Short Range Communication
7.3.2 Long Range Communication
7.3.3 Cloud
8 Global Smart Fleet Management Market, By Solutions
8.1 Y-O-Y Growth Comparison, By Solutions
8.2 Global Smart Fleet Management Market Share Analysis, By Solutions
8.3 Global Smart Fleet Management Market Size and Forecast, By Solutions
8.3.1 Vehicle Tracking
8.3.2 Fleet Optimization
9 Global Smart Fleet Management Market, By Region
9.1 Global Smart Fleet Management Market Share Analysis, By Region
9.2 Global Smart Fleet Management Market Share Analysis, By Region
9.3 Global Smart Fleet Management Market Size and Forecast, By Region
10 North America Smart Fleet Management Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 North America Smart Fleet Management Market Share Analysis, By Transport
10.3 North America Smart Fleet Management Market Size and Forecast, By Hardware
10.4 North America Smart Fleet Management Market Size and Forecast, By Connectivity
10.5 North America Smart Fleet Management Market Size and Forecast, By Solutions
10.6 North America Smart Fleet Management Market Size and Forecast, By Country
10.6.1 U.S.
10.6.2 Canada
10.6.3 Mexico
11 Europe Smart Fleet Management Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Europe Smart Fleet Management Market Share Analysis, By Transport
11.3 Europe Smart Fleet Management Market Size and Forecast, By Hardware
11.4 Europe Smart Fleet Management Market Size and Forecast, By Connectivity
11.5 Europe Smart Fleet Management Market Size and Forecast, By Solutions
11.6 Europe Smart Fleet Management Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4. Rest of Europe
12Asia Pacific Smart Fleet Management Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Asia Pacific Smart Fleet Management Market Share Analysis, By Transport
12.3 Asia Pacific Smart Fleet Management Market Size and Forecast, By Hardware
12.4 Asia Pacific Smart Fleet Management Market Size and Forecast, By Connectivity
12.5 Asia Pacific Smart Fleet Management Market Size and Forecast, By Solutions
12.6 Asia Pacific Smart Fleet Management Market Size and Forecast, By Country
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4. Rest of Asia Pacific
13Latin America Smart Fleet Management Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Latin America Smart Fleet Management Market Share Analysis, By Transport
13.3 Latin America Smart Fleet Management Market Size and Forecast, By Hardware
13.4 Latin America Smart Fleet Management Market Size and Forecast, By Connectivity
13.5 Latin America Smart Fleet Management Market Size and Forecast, By Solutions
14.6 Latin America Smart Fleet Management Market Size and Forecast, By Country
14.6.1. Brazil
14.6.2.Rest of Latin America
15Middle East Smart Fleet Management Market Analysis and Forecast (2022-2027)
15.1 Introduction
15.2 Middle East Smart Fleet Management Market Share Analysis, By Transport
15.3 Middle East Smart Fleet Management Market Size and Forecast, By Hardware
15.4 Middle East Smart Fleet Management Market Size and Forecast, By Connectivity
15.5 Middle East Smart Fleet Management Market Size and Forecast, By Solutions
15.6 Middle East Smart Fleet Management Market Size and Forecast, By Country
15.6.1. Saudi Arabia
15.6.2. UAE
15.6.3. Egypt
15.6.4. Kuwait
15.6.5. South Africa
16Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17Company Profiles
17.1 Precious Shipping Public Company Limited (Thailand)
17.1.1 Overview
17.1.2 Offerings
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
17.1.5 Key Market Developments
17.1.6 Key Strategies
17.2 Otto Marine Limited (Singapore)
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3B. JUTHA MARITIME (Thailand)
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4 Globecomm Systems Inc. (US)
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.5 Key Market Developments
17.4.6 Key Strategies
17.5 Robert Bosch GmbH (Germany)
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6 TomTom International BV. (Netherlands)
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7 Trakm8 Limited (UK)
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8 BMW (Germany)
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9 CHAINWAYTSP CO., Ltd (China)
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5 Key Market Developments
17.9.6 Key Strategies
17.10 Sierra Wireless (Canada)
17.10.1 Overview
17.10.2 Offerings
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
17.10.5 Key Market Developments
17.10.6 Key Strategies