Smart fleet management takes care of tracking and maintaining vehicles in a speedy, cost-effective, and easy. It also takes care of financing, driver management, and other things. It additionally helps fleet owners in certain factors, likewise decreasing the risks connected to dynamics such as operations, staff costs, and other things. When different industries use smart fleet management, they can save money on complete costs, make their fleet safer, and develop fleet functions with real-time tracking and monitoring. Incorporating real-time fleet monitoring systems into vehicles augmented usage of cloud-based technology for smart fleet management solutions, and better vehicle analyzing and fuel management are the primary aspects propelling the global smart fleet management market.
The market is rising owing to IoT and information, communications, & technology (ICT) are becoming more common in transportation, automobiles, and logistics. In addition, the market risen progressively owing to certain aspects such as continuous tracking of driver behavious, real-time visibility, vehicle tracking, and driver management. The market is also rising owing to the augment of 4G, 5G, and several other wireless technologies that make communication easier, the growth of the market for replacing vehicles, and the augment in international trade.
According to SPER market research, ‘Smart Fleet Management Market by Transportation (Automotive, Rolling Stock, Marine), By Hardware (Tracking, Optimization, ADAS, Remote Diagnostic and Others), By Connectivity (Short, Long, and Cloud), By Solution (Tracking and Optimization), and By Region (North America, Europe, Asia Pacific, South America, Middle East, and Africa)’ state that the Smart Fleet Management Market is predicted to fostering by the increasing concerns about the vehicle safety and emission and real-time tracking to decrease the transportation cost. Global smart fleet management is predicted to attain progressive momentum throughout the forecast duration of 2021-2027 due to an augment for smart fleet management for vehicle tracking and monitoring, remote diagnostics, fuel management, and driver performance tracking and monitoring.
Aspects, such as integration of real-time fleet monitoring systems in vehicles, augment in the usage of cloud-based technology for smart fleet management solutions, and improved vehicle monitoring & fuel management, are predicted to propel the growth of the global smart fleet management market. In addition, better driver and vehicle safety, advancement of the intelligent transportation system, innovation of business decisions for fleet owners, and augment in requirements for developing regions are predicted to propose remunerative opportunities for the enlargement of the market during the near future.
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Asia Pacific registered the market share during recent past years owing to the growing competition, the growing penetration of smart devices and linked machines, and the increasing investments in smart cities. High economic growth in emerging regions, likewise India, China, and Vietnam, has augmented the number of connected solutions that comprise sensors and RFID tags, resulting in an impetuous outburst of massive amounts of data. The speedy digitalization of vehicles in the nation performs as one of the foremost aspects propelling the growth of the smart fleet management market.
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May 27, 2019: The global smart fleet management market size is expected to reach USD 565.1 billion by 2025, according to a study conducted by Grand View Research, Inc.
Introduction of vehicular communication technologies has increased the adoption of smart fleet management solutions, which enable vehicle tracking and monitoring, fleet analytics, fuel management, predictive maintenance, remote diagnostics, and driver performance tracking and monitoring, among others.
This enables fleet operators of all sizes to incorporate smart technologies to increase their operational efficiency, enhance productivity, and enable varied cost savings.
In regions such as North America and Europe, there is ubiquitous presence of strong wireless connectivity infrastructure and this has facilitated widespread investment in telematics solutions among fleet operators.
Additionally, presence of prominent industry players such as Cisco Systems, Inc.; IBM Corporation; Continental AG; Sierra Wireless; Zonar Systems, Inc.; and Orbcomm, Inc. is estimated to foster growth prospects for the smart fleet management market.On the down side, advancements in networking technologies enabling a connected environment will pose significant concerns over data privacy and data security.
Lack of network infrastructure in developing regions, complexity of deployment, and high initial capital requirements are also expected to hinder the growth of the smart fleet management market.Click For Report Details @ https://www.radiantinsights.com/research/smart-fleet-management-market Further key findings from the study suggest:By transportation, the automotive segment will register the fastest growth during the forecast period, exhibiting a CAGR of 8.2%.
