Based on hardware, the smart fleet management market is segmented as tracking, ADAS, optimization, and remote diagnostics. ADAS systems are expected to grow at a significant rate, owing to the high adoption of these systems in passenger cars, particularly in North America and Europe. Governments of countries in the Asia Pacific region, including India and China are focused on mandating these systems to enhance passenger safety.
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The smart fleet management market in the Asia Pacific region is expected to grow at a remarkable pace owing to increasing stringency in regulations and rising transportation facilities in countries including India, China, and Japan. The governments in these countries are compelling the OEMs to implement these systems in vehicles owing to the changing approach toward the safety of drivers, passengers, fleet operators, and goods. Improving trade and socio-economic conditions in Thailand, Indonesia, and Malaysia have increased the demand for premium fleets with high safety features, thus positively impacting the smart fleet management market growth.
The smart fleet management market is segmented based on hardware, transportation, connectivity, and solutions. Based on transportation, the smart fleet management market is segmented into automotive, marine, and rolling stock. The automotive segment is expected to grow during the forecast timeframe owing to the increasing adoption of roadways for domestic and international transportation.
Based on connectivity, the smart fleet management market is classified as long-range communication, short-range communications, and cloud. With advancements in the cloud technology, the smart fleet systems vendors are focused on providing cloud solutions to the customers, owing to its reliability and better performance, compared to other connectivity modes. Based on solutions, the industry is segmented as vehicle tracking and fleet optimization. Fleet operators are increasingly leveraging the advent of Internet of Things by equipping vehicles with wireless technology to improve connectivity and scalability. This is anticipated to favor the growth of fleet optimization solutions, thus boosting the smart fleet management industry.
Industry players in the smart fleet management market include Harman International Industries, Inc., Robert Bosch GmbH., Siemens AG, Denso Corporation, IBM Corporation, Continental AG, Cisco Systems, Inc., Sierra Wireless, Inc., Calamp Corp., OTTO Marine Ltd., Precious Shipping Co. Ltd., and Globecomm Systems, Inc. The presence of primarily big players characterizes the smart fleet management industry. However, new startups are entering the market with more specialized fleet management and optimization solutions for specified applications. For instance, KeepTruckin, a startup based in the U.S. is focusing on improving the efficiency of the trucking industry by connecting drivers and vehicle freights on road.
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Telematics service providers and OEMs in the smart fleet management market are developing solutions to ensure compatibility with future standards to increase ease-of-maintenance and scalability. Telematics providers are developing integrated modules and SIMs to connect to cellular networks as vehicles travel between urban & rural areas, network provider boundaries, and cellular network boundaries from 2G to 3G and 4G. These modules are intended to achieve scalability and optimum coverage that remain compatible with the changing technology.
The technology providers are investing in developing solutions with special and customized features in the smart fleet management market. For instance, P&L Software, a firm based in the UK focuses on developing software for the waste management industry. The company has developed an integrated waste system that comprises a software suite with modules consisting of tailored features catering to specific customer requirements. Increasing government subsidies are attracting new companies that are entering this market.
Methodology used in the Report –
Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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