North America and Europe are dominating the mobile resource management market due to their established economy, technological advancements, and the increasing need for reliability, efficiency, and customer safety. Many companies in the U.S. make use of mobile resource management services to track and monitor their fleet and other heavy vehicles. APAC is anticipated to witness a high growth rate during the forecast period owing to its huge population and increasing need for safety and optimization.
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Mobile Resource Management Market is growing due to rapid industrialization and population growth across the world. MRM enhances the performance of the organizations as it assists in tracking and monitoring the mobile assets and employees thus increasing the accountability and reducing the time and cost. It assists in the real-time tracking of mobile resources, which helps in serving customer demands and reducing fuel costs by locating better routes. The safety of the driver and operator performance is also maintained by detecting unsafe driving and identifying vehicle operators, who require additional training to prevent accidents. It also helps the managers in reducing risks and decreasing insurance cost by immediately detecting the problem as it arises.
The demand for mobile resource management market is growing as it is necessary for industries of all sizes, which majorly include transport companies, construction sites, police and fire service departments, oil and natural gas, government, and public work. MRM allows fleet operators to minimize the fuel consumed and miles traveled and increase the number of deliveries per day.
The technological shift from hardware to 3G and 4G cellular services, reduced hardware costs, and wireless data also boost the demand for the MRM market. The introduction of GPS and GIS devices has increased the integration in vehicle fleets, assisting vehicle tracking and routing. Cloud computing is also adopted to convert data from vehicle sensors into useful vehicle information, which can be used by managers to determine alternative ways to avoid traffic, reduce fuel consumption, and improve safety.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- AT&T, Inc.
- Garmin International, Inc.
- CalAmp corporation
- Telogis, Inc.
- Spireon, Inc.
- SkyBitz, Inc.
- Trimble, Inc
- Verizon Communications, Inc
Some of the major vendors present in the MRM market include AT&T, Inc., Masternaut, Garmin International, Inc., CalAmp corporation, Telogis, Inc., Spireon, Inc., SkyBitz, Inc., Trimble, Inc. and Verizon Communications, Inc. The growing demand for MRM solutions has intensified the competition amongst the market players. The players are adopting strategies such as new product launches in developing economies and partnerships with local providers to gain market share and improve its brand value. For instance, in August 2016, AT&T entered into a partnership with Toronto-based Fleet Compete to offer AT&T Fleet compete, which offers customer solutions such as asset tracking, fleet tracking, and resource tracking.