IoT Fleet Management Market : Industry Insights, Trends and Forecast upto 2025
The global IoT fleet management market is driven by the growing need for high operational efficiency, upcoming regulations on security and safety of fleet, and integration of smart devices with vehicles. IoT fleet management helps in real time fleet monitoring and optimized business operations, thus driving their demand. The rising number of fleet vehicles, escalating maintenance cost, and volatile fuel prices worldwide will propel the demand for IoT fleet management. It is estimated that the hybrid model will show a potential for a healthy growth. The ability to backup data on cloud and recover the same, higher flexibility offered, in terms of management of data and implementation of data privilege at low cost are some of the reasons why the hybrid model will experience growth in the forecast period. Another trend which can be expected to become popular is the shift to subscription-based solutions. On the other hand, some of the challenges faced by the global IoT fleet management market include, a lack of infrastructure in emerging economies, and cost sensitivity of small players within the market. The driver privacy concerns will also impact the growth of the global IoT fleet management market. Obtain Report Details @ http://www.transparencymarketresearch.com/iot-fleet-management-market.html In an IoT fleet management ecosystem, real time data can be collected from individual vehicles and subsequently analyzed, helping both the drivers and fleet operators. Total Cost of Ownership (TCO) of a vehicle consists of acquisition cost, operation cost and depreciation cost. IoT technology helps fleet operators to minimize TCO of vehicle through fleet management software, improves fuel efficiency and driver safety by optimizing vehicle route and monitoring vehicle tire pressure. An IoT application enabled platform (AEP) is a form of platform-as-a-service. An AEP platform-as-a-service is a type of cloud computing service allowing fleet operators to develop, run and manage software without building or maintaining infrastructure to maintain software. By platform, the market is segmented into drive management, application enabled platform (AEP), and network management. By solution, the market is segmented into drive time analysis,
driver information system, fleet analytics, fuel management, remote diagnostics, routing management, tracking and monitoring and vehicle maintenance. By cloud technology, the market is segmented into public, private and hybrid cloud. By fleet type, the market is segmented into commercial fleet and passenger fleet. By geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is a major market in the IoT fleet management system. The U.S, Canada and Mexico are significant markets in the region. Europe is another major market for IoT fleet management systems. Asia Pacific is also a significant market for IoT fleet management. China is a prominent market in Asia Pacific apart from Japan and South Korea. In Middle East & Africa and Latin America the adoption of IoT technology in fleet management systems is slow. Iran, South Africa, Brazil, and Argentina are significant markets in Middle East & Africa and Latin America. Make an Enquiry@ http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=25583 Rising demand for fleet safety, data management, reducing total cost of ownership (TCO) and fuel efficiency are anticipated to drive the adoption of IoT technology in fleet management systems. Governments across the world are implementing strict emission control norms which is anticipated to increase the adoption of IoT technology in fleet management systems. Currently, the penetration of IoT technology is low in overall fleet management systems but the technology is anticipated to grow in future. The report highlights various competitive strategies adopted by key players operating in the market to gain market share. Company profiles include company details, market presence by segment and geography, strategic overview, SWOT analysis and historical revenue. The report also contains details of market share analysis of key players in the market. Major firms operating in the IoT fleet management market are Oracle Corp. (the U.S), Sierra Wireless, Inc. (Canada), Telefonica S.A. (Spain), Nokia Technologies (Finland), Omnitracs (U.S.), IBM Corporation (U.S.),Trimble, Inc. (U.S.), TomTom International BV (Netherlands), Verizon Communications, Inc. (U.S.), and Cisco Systems, Inc. (U.S.). About Us Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and
trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement. Contact Transparency Market Research 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com