GLOBAL SMART FLEET MANAGEMENT MARKET FORECAST 2019-2027

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GLOBAL SMART FLEET MANAGEMENT MARKET FORECAST 2019-2027

Smart fleet management solution is a fully integrated system used in automotive for effective maintenance plans. Global smart fleet management market amounted at $XX billion in 2018 and is expected to reach $670.76 billion by 2027, growing at a CAGR of 7.87% during the forecast period. The base year considered for the market study is 2018, and the forecast period is 2019-2027.

GLOBAL SMART FLEET MANAGEMENT MARKET FORECAST 2019-2027

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Smart fleet management solution is a fully integrated system used in automotive for effective maintenance plans. Global smart fleet management market amounted at $XX billion in 2018 and is expected to reach $670.76 billion by 2027, growing at a CAGR of 7.87% during the forecast period. The base year considered for the market study is 2018, and the forecast period is 2019-2027.

The factors driving the growth of the global smart fleet management market are as follows:

  • The rise in need of streamlining fleet management
  • Incorporation of real-time fleet monitoring systems in automobiles
  • Growing concerns about vehicle safety, security, and emission
  • Introduction of connected technologies in vehicles
  • Fuel management & vehicle monitoring

The market is primarily driven by the growing concerns of vehicle safety, security, and emission. Advanced Driver Assistance Systems (ADAS), Real-time monitoring, diagnostic features, and geofencing, are incorporated in automobiles, marine, and railways, in order to ensure fleet safety and security in transportation. Governments of various nations have acknowledged these concerns and subsequently developed safety programs and introduced stringent norms. For instance, the U.S. government developed a ‘National Safety Program’ for it’s General Services Administration (GSA) fleet. Such active initiatives are anticipated to promote the widespread adoption of smart technologies in the field of fleet management.

In terms of connectivity, the short-range communication segment captured a sizeable market share of around 54% in 2018 and is expected to dominate the market over the forecast period. Short-range connecting devices include cameras, ultrasonic sensors, and short-range RADAR. These sensors are short-range (providing details of moving objects near the vehicle) to help the vehicle sense any object or obstacle in its way, thus eliminating the chances of accidents. Moreover, sensors are used for short-range notifications such as collision detection, lane detection, and others. Sensors such as LiDAR, ultrasonic, and others are incorporated with AI software to detect an obstacle and help them to work appropriately. However, cloud-based communications are gaining traction, and the segment is expected to grow at the highest CAGR of XX% over the forecast period. Cloud-based deployments are widely adopted across small-sized and medium-sized organizations, owing to advantages such as competitive pricing, higher agility & scalability, and the reduced total cost of ownership due to the elimination of the need for deploying additional hardware. Cloud-based software helps in fleet monitoring by providing analytical solutions. They enhance the quality of transportation-related services with proper maintenance and decision-making.

Conversely, some of the factors holding back smart fleet management market are slow adoption rate among small fleet owners, the high cost of fleet management systems, and cybersecurity threats. The high price primarily restricts market growth. The Smart fleet management solution bestows capabilities such as fuel management, driver analysis, and predictive maintenance, which help analyze spending patterns and provide potential cost-saving opportunities. However, these solutions require advanced and expensive equipment. Thus, the implementation of such smart devices is suitable and economically favorable for operators with a large fleet, as they possess higher spending capacity, unlike companies with a small fleet and financial limitations.

The report on global smart fleet management market includes segmentation on the basis of connectivity, transportation mode, and application.

Market by Connectivity:

  • Short Range
  • Long Range
  • Cloud

Market by Transportation Mode:

  • Roadways
  • Marine
  • Airways
  • Railways

Market by Application:

  • Advanced Driver Assistance Systems (ADAS)
  • Tracking
  • Optimization
  • Others

Geographically, the global smart fleet management market, has been segmented into four major regions, which includes:

  • North America: the United States & Canada
  • Europe: United Kingdom, Germany, France, Spain, Italy, & Rest of Europe
  • Asia Pacific: China, India, Japan, South Korea, Australia, & Rest of Asia Pacific
  • Rest of World: Latin America, Middle East, & Africa

The Asia Pacific dominates the regional paradigm of smart fleet management market with the largest revenue share of around 36% in 2018. Additionally, it is the fastest-growing regional market for smart fleet management. The booming e-commerce, increase in demand for smart transportation, and rise in concerns about the safety of vehicle & driver, implementation of stringent government regulations toward vehicle maintenance & tracking are the major factors responsible for the growth of the market. China is expected to become the third-biggest market for fleet management by 2020. The Chinese fleet management market is equipped with basic track and trace systems possessing limited functionality benefits. The prominent Chinese providers include Beijing Zhongdou Technology, Shenzhen Weitongda Electronics, and Huabao Electronics technology. In 2018, G7 & Marubeni Corporation signed an agreement, combining Marubeni’s experience of fleet management with G7’s AI technology and IoT. Further, investment in an emerging idea of smart cities and various advancements in connectivity are expected to provide lucrative opportunity for smart transportation in the Asia-Pacific market, thereby driving the growth of the smart fleet management market.

Global SFM market has been analyzed on the basis of connectivity, transportation mode, and application. Based on connectivity, the market can be segmented into short-range communication, long-range communication, and cloud. Based on application, the market can be divided into tracking, ADAS, optimization, and others. Based on transportation mode, the market can be classified into roadways, airways, railways, and marine.

The market has several players, and some of the key players involved in the global smart fleet management market are:

  • Continental AG
  • Denso Corporation
  • I.D. Systems
  • Sierra Wireless, Inc.
  • Tech Mahindra Limited
  • Other Companies

Company profiles of the prominent market players have been discussed in a detailed manner. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, or new product launches to gain a competitive edge over each other. For example, in June, 2019, Microsoft & Sierra Wireless collaborated to integrate with Microsoft Azure IoT Central with Sierra Wireless’ new Octave™ edge data orchestration solution. In May, 2019, Zonar introduced Zonar Mobile Ecosystem™, designed to deliver superior fleet safety, compliance, and business proficiencies for its customers. In March, 2019, Blue Dot Solutions was acquired by Omnitracs, LLC. Blue Dot Solutions is a well-known supplier of cloud-based platform solutions & software applications in the transport business. In March, 2019, I.D. Systems, Inc. announced its plan to acquire remaining shares of Pointer Telocation Ltd.

Key findings of the global smart fleet management market:

  • Asia Pacific leads the global smart fleet management market by capturing the most significant market share of approximately XX% in 2018. In addition, the Asia Pacific smart fleet management market is expected to grow at the highest CAGR of XX% during the forecast period.
  • Smart fleet management’s tracking application is expected to grow at the highest CAGR of XX% over the forecast period.
  • Roadways dominated the transportation mode segment of the global smart fleet management market by capturing largest market share of approximately XX% in 2018.
  • Supportive regulations and standards, along with the increasing government support for smart fleet management, are expected to influence the growth of the market positively.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • INCORPORATION OF REAL-TIME FLEET MONITORING SYSTEMS IN AUTOMOBILES
      • EMERGENCE OF INTELLIGENT TRANSPORTATION SYSTEM
      • FUEL MANAGEMENT & VEHICLE MONITORING
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • RISE IN NEED FOR STREAMLINING FLEET MANAGEMENT
      • GROWING CONCERNS OF VEHICLE SAFETY, SECURITY, AND EMISSION
      • INTRODUCTION OF CONNECTED TECHNOLOGIES IN VEHICLES
    • MARKET RESTRAINTS
      • SLOWER ADOPTION RATE AMONG SMALL FLEET OWNERS
      • HIGH COST OF FLEET MANAGEMENT SYSTEMS
    • MARKET OPPORTUNITIES
      • GROWING INTEREST TOWARDS CLOUD-BASED SMART FLEET MANAGEMENT SOLUTIONS
      • RAPID DEVELOPMENT IN NETWORK INFRASTRUCTURE & DECLINING HARDWARE COSTS
    • MARKET CHALLENGES
      • CYBERSECURITY THREATS
  1. MARKET BY CONNECTIVITY
    • SHORT RANGE
    • LONG RANGE
    • CLOUD
  2. MARKET BY TRANSPORTATION MODE
    • ROADWAYS
    • MARINE
    • AIRWAYS
    • RAILWAYS
  3. MARKET BY APPLICATION
    • ADVANCED DRIVER ASSISTANCE SYSTEM (ADAS)
    • TRACKING
    • OPTIMIZATION
    • OTHER APPLICATION
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF BUYERS
      • BARGAINING POWER OF SUPPLIERS
      • THREAT OF COMPETITIVE RIVALRY
    • VALUE CHAIN ANALYSIS
      • COMPONENTS/SMART DEVICES PROVIDERS
      • NETWORK OPERATORS AND SERVICE ENABLERS
      • SYSTEM INTEGRATORS AND SERVICE PROVIDERS
      • END USERS
    • REGULATORY FRAMEWORK
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • CISCO SYSTEMS, INC.
    • CONTINENTAL AG
    • DENSO CORPORATION
    • D. SYSTEMS
    • IBM CORPORATION
    • OMNITRACS LLC
    • ORBCOMM, INC.
    • ROBERT BOSCH GMBH
    • SIEMENS AG
    • SIERRA WIRELESS, INC.
    • TECH MAHINDRA LIMITED
    • ZONAR SYSTEMS, INC.

 LIST OF TABLES

TABLE 1: GLOBAL SMART FLEET MANAGEMENT MARKET, BY GEOGRAPHY, 2019-2027 (IN $ BILLION)

TABLE 2: GLOBAL SMART FLEET MANAGEMENT MARKET, BY CONNECTIVITY, 2019-2027 (IN $ BILLION)

TABLE 3: GLOBAL SHORT RANGE MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 4: GLOBAL LONG RANGE MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 5: GLOBAL CLOUD MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 6: GLOBAL SMART FLEET MANAGEMENT MARKET, BY TRANSPORTATION MODE, 2019-2027 (IN $ BILLION)

TABLE 7: GLOBAL ROADWAYS MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 8: GLOBAL MARINE MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 9: GLOBAL AIRWAYS MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 10: GLOBAL RAILWAYS MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 11: GLOBAL SMART FLEET MANAGEMENT MARKET, BY APPLICATION, 2019-2027 (IN $ BILLION)

TABLE 12: GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEM (ADAS) MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 13: GLOBAL TRACKING MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 14: GLOBAL OPTIMIZATION MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 15: GLOBAL OTHER APPLICATION MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 16: REGULATORY FRAMEWORK: FLEET MANAGEMENT

TABLE 17: OPPORTUNITY MATRIX

TABLE 18: VENDOR LANDSCAPE

TABLE 19: GLOBAL SMART FLEET MANAGEMENT MARKET, BY GEOGRAPHY, 2019-2027 (IN $ BILLION)

TABLE 20: NORTH AMERICA SMART FLEET MANAGEMENT MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 21: EUROPE SMART FLEET MANAGEMENT MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 22: ASIA PACIFIC SMART FLEET MANAGEMENT MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 23: REST OF WORLD SMART FLEET MANAGEMENT MARKET, BY REGION, 2019-2027 (IN $ BILLION)

LIST OF FIGURES

FIGURE 1: GLOBAL SMART FLEET MANAGEMENT MARKET, BY CONNECTIVITY TYPE, 2018 & 2027 (IN %)

FIGURE 2: GLOBAL SMART FLEET MANAGEMENT MARKET, BY SHORT RANGE, 2019-2027 (IN $ BILLION)

FIGURE 3: GLOBAL SMART FLEET MANAGEMENT MARKET, BY LONG RANGE, 2019-2027 (IN $ BILLION)

FIGURE 4: GLOBAL SMART FLEET MANAGEMENT MARKET, BY CLOUD, 2019-2027 (IN $ BILLION)

FIGURE 5: GLOBAL SMART FLEET MANAGEMENT MARKET, BY ROADWAYS, 2019-2027 (IN $ BILLION)

FIGURE 6: GLOBAL SMART FLEET MANAGEMENT MARKET, BY MARINE, 2019-2027 (IN $ BILLION)

FIGURE 7: GLOBAL SMART FLEET MANAGEMENT MARKET, BY AIRWAYS, 2019-2027 (IN $ BILLION)

FIGURE 8: GLOBAL SMART FLEET MANAGEMENT MARKET, BY RAILWAYS, 2019-2027 (IN $ BILLION)

FIGURE 9: GLOBAL SMART FLEET MANAGEMENT MARKET, BY ADVANCED DRIVER ASSISTANCE SYSTEM (ADAS), 2019-2027 (IN $ BILLION)

FIGURE 10: GLOBAL SMART FLEET MANAGEMENT MARKET, BY TRACKING, 2019-2027 (IN $ BILLION)

FIGURE 11: GLOBAL SMART FLEET MANAGEMENT MARKET, BY OPTIMIZATION, 2019-2027 (IN $ BILLION)

FIGURE 12: GLOBAL SMART FLEET MANAGEMENT MARKET, BY OTHER APPLICATION, 2019-2027 (IN $ BILLION)

FIGURE 13: PORTER’S FIVE FORCE ANALYSIS

FIGURE 14: VALUE CHAIN ANALYSIS

FIGURE 15: GLOBAL SMART FLEET MANAGEMENT MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 16: UNITED STATES SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 17: CANADA SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 18: UNITED KINGDOM SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 19: GERMANY SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 20: FRANCE SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 21: SPAIN SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 22: ITALY SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 23: REST OF EUROPE SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 24: CHINA SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 25: JAPAN SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 26: INDIA SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 27: SOUTH KOREA SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 28: AUSTRALIA SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 29: REST OF ASIA PACIFIC SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 30: LATIN AMERICA SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

FIGURE 31: MIDDLE EAST & AFRICA SMART FLEET MANAGEMENT MARKET, 2019-2027 (IN $ BILLION)

  1. MARKET BY CONNECTIVITY
    • SHORT RANGE
    • LONG RANGE
    • CLOUD
  2. MARKET BY TRANSPORTATION MODE
    • ROADWAYS
    • MARINE
    • AIRWAYS
    • RAILWAYS
  3. MARKET BY APPLICATION
    • ADVANCED DRIVER ASSISTANCE SYSTEM (ADAS)
    • TRACKING
    • OPTIMIZATION
    • OTHER APPLICATION
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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