Secunderabad Chronicle

The Global Smart Fleet Management Market to Amount to $599.18 Billion by 2028

 Breaking News
  • No posts were found

The Global Smart Fleet Management Market to Amount to $599.18 Billion by 2028

August 19
14:37 2021
The Global Smart Fleet Management Market to Amount to $599.18 Billion by 2028
The Global Smart Fleet Management Market
As Triton’s research report, the global smart fleet management market, which generated $281.03 billion in 2020, is likely to chart 7.36% of CAGR by the year 2028.

A recent study by Triton Market Research titled ‘Global Smart Fleet Management Market,’ covers the Global Analysis and Forecasts by Application (ADAS, Tracking, Optimization, Fuel Cards, Automatic Vehicle Identification), by Transport Type (Roadways, Marine, Airways, Railways), by Connectivity (Short Range, Long Range, Cloud), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

 

Request Free Sample of the Global Smart Fleet Management Market Report @ https://www.tritonmarketresearch.com/reports/smart-fleet-management-market#request-free-sample 

 

The report estimates the global smart fleet management market to exhibit a CAGR of 7.73% during the forecasting years 2021-2028, garnering a revenue worth $599.18 billion by 2028. 

Fleet management solutions have become more accessible to end consumers across the world, owing to rapid advancements in network infrastructure. On the other hand, hardware costs have declined dramatically over the last few years, owing to the higher volume of manufacturing and innovations in hardware design. 

Thus, the rapid advancement in network infrastructure and decreasing hardware costs are driving the market growth. However, the additional costs incurred while providing connectivity to the vehicle act as a hindrance to the smart fleet management market growth.

The market for smart fleet management is trifurcated into application, transport type, and connectivity. Based on application, it is divided into ADAS, tracking, optimization, fuel cards, and automatic vehicle identification. Whereas, based on transport type, it is categorized into roadways, marine, and airways, railways. Lastly, based on connectivity, it is segmented into short range, long range, and cloud.

The market in the Asia-Pacific is expected to grow the fastest over the forecasting duration. China and India are the most emerging economies in the region, and indicate many opportunities for development in connectivity. Further, growing investments in the emerging idea of smart cities and several advancements in connectivity are expected to offer lucrative opportunities for smart transportation in the APAC market. This, in turn, will drive the market for smart fleet management in this region. 

International Business Machines Corporation, Tech Mahindra Limited, Cisco Systems Inc, Omnitracs LLC, Robert Bosch GmbH, Siemens AG, Zonar Systems Inc, Continental AG, Orbcomm Inc, Denso Corporation, Sierra Wireless Inc, and I D Systems Inc (Powerfleet Inc) are the well-known players in the smart fleet management market.

 

Purchase this Report @ https://www.tritonmarketresearch.com/reports/smart-fleet-management-market#purchase-option   

 

Question & Answer: Smart Fleet Management Market

Question 1: What factors are driving the smart fleet management market growth?

Answer: Fleet management solutions have become more accessible to end consumers across the world, owing to rapid advancements in network infrastructure. On the other hand, hardware costs have declined dramatically over the last few years, owing to the higher volume of manufacturing and innovations in hardware design. Thus, the rapid advancement in network infrastructure and decreasing hardware costs are driving the market growth.

Question 2: What factors act as a hindrance to the smart fleet management market growth?

Answer: The additional costs incurred while providing connectivity to the vehicle act as a hindrance to the smart fleet management market growth.

Question 3: Which region is expected to grow the fastest over the forecasting duration?

Answer: The market in the Asia-Pacific is expected to grow the fastest over the forecasting duration. China and India are the most emerging economies in the region, and indicate many opportunities for development in connectivity. Further, growing investments in the emerging idea of smart cities and several advancements in connectivity are expected to offer lucrative opportunities for smart transportation in the APAC market. This, in turn, will drive the market for smart fleet management in this region.

Question 4: Which are the well-known players in the smart fleet management market?

Answer: International Business Machines Corporation, Tech Mahindra Limited, Cisco Systems Inc, Omnitracs LLC, Robert Bosch GmbH, Siemens AG, Zonar Systems Inc, Continental AG, Orbcomm Inc, Denso Corporation, Sierra Wireless Inc, and I D Systems Inc (Powerfleet Inc) are the well-known players in the smart fleet management market.

 

Related Report:

Global Advanced Driver Assistance System (ADAS) Market

The global advanced driver assistance systems (ADAS) market is set to grow in the forecasting years from 2019 to 2027, generating $80.97 billion by 2027, while charting a CAGR of 19.46% by revenue. Also, it is expected to amount to 1187.78 million units by 2027, with 21.66% of CAGR in terms of volume.

Statistics from the International Energy Agency suggest that the total number of vehicles on the road would reach over 1.7 million units by 2035. A surge in the demand for vehicles can be seen in emerging and transitional economies, which has enhanced their production. The rising number of vehicles are anticipated to supplement the need for advanced driver assistance systems. This will fuel the market growth in the region.

Moreover, the increase in cases of vehicular theft across the world has raised concerns on the safety and security of vehicles. ADAS comprises automated access control system, parking assistance software, and a full-proof security system, which helps in improving the security and safety of vehicles. These advanced security software systems will decrease the cases of thefts. This will further boost the demand for ADAS, and consequently, have a positive impact on the growth of the advanced driver assistance systems (ADAS) market.

 

About Us:

We are a leading market research company with offices in the UK, providing the best online market research and data search reports to our clients.

Media Contact
Company Name: Triton Market Research
Contact Person: Matt Dixson
Email: Send Email
Phone: +44 7441 911839
Address:196, wards wharf approach London E16 2EQ
Country: United Kingdom
Website: https://www.tritonmarketresearch.com/

Related Articles