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The global market for smart fleet management has been witnessing significant growth in recent times. The growing vehicle production, across the globe can be attributed as a key driver for the market. Smart fleet management, is a system through which operators keep track of variable factors such as fuel consumption, maintenance and route management. Smart fleet management systems provide a dedicated server for fleet data and security in a single system, which enable operators to analyze and make informed and cost effective decisions or enhance safety. In addition, stringent regulatory norms, especially in Europe, have fueled the growth of the market. Reduction in transportation cost and operating cost, has come forth as a major trend in the automotive industry, which is an encouraging factor for the players in the Smart Fleet Management Industry.
The growth of the Asia Pacific region can be attributed to the increase in adoption of passenger cars. This is expected to the increase adoption of smart fleet management in the passenger cars. The recent shift in the preference from mileage to looks and features, is also expected to result in high demand of smart fleet management systems. The global Smart Fleet Management Industry is also expected to grow during the forecast period owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector. The demand for smart fleet management is largely dependent on vehicle production in developing countries such as India and China. The growth in vehicle production, which would also push the demand for smart fleet management.
The key players of global Smart Fleet Management Industry are 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. In 2016, these companies accounted for a share of XX% of the global market.
Market Research Analysis
The market for smart fleet management is expected to grow with an increase in demand for automobile, majorly in the United States. There is an immense demand of commercial vehicles in United States. With the increase in demand of commercial vehicles, there is a subsequent increase in demand for Smart Fleet Management Industry. The growth of North America market is also driven by the adoption of converted mobile homes in the U.S. Existence of major manufacturers in this region combined with availability of sophisticated technologies, enables the Smart Fleet Management Industry to flourish in this region. North America is a mature economy as far as investment in automotive industry is concerned. Automotive industry is expecting huge investment by several giants due to the rising demand for passenger cars.
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