Fleet management market share forecast to witness considerable growth from 2019-2025

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fleet management market share research by
applications and regions for 2019-2025 Global
Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Overview of fleet management market

• North America is expected to hold a significant
  fleet management market share over the forecast
  period due to an increase in the number of
  commercial vehicle and the adoption of IoT
  technology in the region. For instance, according
  to the International Organization of Motor
  Vehicle Manufacturers, commercial vehicle sales
  in the U.S. crossed 11 million mark in 2017. The
  transportation companies are deploying fleet
  management solutions to increase their
  operational efficiency. The increase in the
  number of vehicle theft incidents is enabling
  rapid adoption of the fleet management systems
  across the transportation companies to reduce
  losses occurring due to accidents. For instance,
  according to the Canadian Centre for Justice
  Statistics, in 2017, 85,000 motor vehicle thefts
  were reported by police in Canada, 5,900 more
  than 2016. The rate of vehicle theft increased by
  6 from 2016 in the country.
• Fleet Management Market size is expected to grow
  rapidly over the forecast period due to
  increasing demand for improving the operational
  efficiency of logistics and transportation
  companies, development of the wireless
  technology, and advancements in the automotive
  sector such as connected vehicles and autonomous
  driving. The increase in mobile network
  connectivity, network range, and steps for
  commercialization of next-generation 5G network
  are helping to deliver high performance and
  excellent usability for fleet management systems.
  The increase in government support for
  Intelligent Transport Systems (ITS) to enhance
  road safety and reduce traffic congestion is
  another factor fueling fleet management market
  growth

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• Fleet management systems help fleet managers in
  improving productivity by saving the time of
  drivers by planning routes efficiently and
  providing traffic updates and predicting the time
  of departure and arrival. It also helps
  transportation and logistics companies
  economically by reducing the consumption of fuel
  and idle time. This improves the fleet times and
  reduces the losses occurring due to delays in the
  delivery of logistics. The integrated tracking
  systems help customers to get real-time
  information about the location of their assets,
  improving the overall customer satisfaction. The
  fleet management systems improve driver safety by
  providing alerts regarding the road conditions
  for the planned path.
• The advanced fleet management systems have a
  feature of driver-behavior monitoring, which will
  prevent rash driving behavior and reduce on-road
  accidents. The real-time fleet tracking reduces
  the chances of vehicle theft. The On-Board
  Diagnostics (OBD) feature in the fleet management
  system monitors the performance of vehicle engine
  components and provides alerts regarding
  maintenance requirements of engine components.
  The increase in the high initial capital
  expenditure required for the deployment of the
  fleet management system may hamper market growth.
  The growing concerns over the data privacy and
  security of data transmitted over the wireless
  network and lack of cellular network
  infrastructure in developing countries are also
  expected to hinder the fleet management market
  growth.

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• The APAC fleet management market is expected to
  grow rapidly over the forecast period due to the
  increase in the adoption of smart cities and
  increasing awareness regarding passenger safety
  in the public transportation system. The
  government authorities are emphasizing on the
  safety and security of passengers in public
  transportation, especially women and children in
  urban areas. For instance, in February 2019, the
  Indian Ministry of Road Transport and Highways
  mandated the installation of vehicle location
  tracking devices and emergency button for new
  public service vehicles registered after 1st
  January 2019 under rule 125H of the Central Motor
  Vehicle Rule 1989.
• The major fleet management solution providers are
  forming strategic partnerships with technology
  companies to deliver fleet telematics services in
  the APAC region. For instance, in October 2018,
  Netstar, a provider of fleet management solutions
  and vehicle tracking devices partnered with IT
  solutions and services company, C Ahead to offer
  insurance and fleet telematics in India. This
  partnership helped the company to expand its
  customer base in the rapidly growing Indian fleet
  management market.

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• The major fleet management solution providers are
  strategically collaborating with other technology
  companies to provide innovate fleet management
  solution for logistics and transportation
  companies. For instance, in January 2017, Geotab
  selected Sequans Communications LTE Cat 1
  technology for next-generation vehicle tracking
  systems. This collaboration helped the company to
  offer advanced connectivity solutions and
  cost-effective future-proof fleet management
  solutions. The major players operating in fleet
  management market are Geotab, Automotive Rentals
  Inc., Teletrac Navman, Verizon Connect, Mix
  Telematics, Masternaut, Chevin Fleet Solutions,
  Inseego Corp, Omnitracs, Trimble, Wheels, Inc.,
  GPS Insight, Nextraq, Azuga, Donlen Corporation,
  TomTom N.V., ATT Inc., Freeway Fleet Systems,
  Cisco Systems, Inc. and Fleetmatics Group PLC.

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Methodology

• Market
  research reports Key analytical components

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