Smart Fleet Management Market Growth, Trends, Size, Share, Revenue, Scope and Future Outlook
Smart Fleet Management Market Size- By Transportation, By Application, By Connectivity, By Operation- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Oct-2023 | Report ID: IACT23168 | Pages: 1 - 228 | Formats*: |
| Category : Information & Communications Technology | |||
Smart Fleet Management Market Introduction and Overview
According to SPER Market Research, the Global Smart Fleet Management Market is estimated to reach USD 808.39 billion by 2033 with a CAGR of 10.1%.
The report includes an in-depth analysis of the Global Smart Fleet Management market, including market size and trends, product mix, distribution channels, and supplier analysis. Fleet operators can monitor their cars in real time to see if drivers are following the recommended route or if there are any deviations. Cloud-based solutions, such as AI, IoT, and big data, are utilized to acquire primary data for fleet management. Techwave Consulting Inc., for example, employs sensors that may be implanted in cars to monitor high-value commodities while connecting to the cloud and transmitting data in real-time. Furthermore, important activities in smart fleet management include vehicle and driver tracking, asset management, two-way communication, driver safety and time management, rescheduling delivery tasks, and others.
- Cisco Systems introduced App Dynamic Cloud in June 2021 to provide superior digital experiences to its clients.
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Market Opportunities and Challenges
Opportunities:
- Vehicle Digitalization: One of the primary factors fueling the growth of the smart fleet management industry is the fast digitalization of vehicles. The need to increase operational efficiency, profitability at lower costs, and productivity helps the market.
- Transportation Costs are rising: The increased fleet size of transportation and logistics industries necessitates efficient fleet management for vehicle security and timely delivery, which further influences the industry.
Challenges: Complex and expensive technologies, as well as a lack of adaptation in emerging countries, are projected to stymie market expansion. In addition, pricing and quality challenges, as well as safety and security risks, are expected to confront the smart fleet management market.
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Market Competitive Landscape
Among the market's major participants are Cisco Systems, Inc, Robert Bosch GmbH, Tech Mahindra Limited, Siemens, Continental AG, Sierra Wireless, Samsung Electronics Co. Ltd. (Harman International Industries, Inc.), Globecomm Systems Inc. (Speedcast International Limited), International Business Machines Corporation (IBM), DENSO CORPORATION are being used by market participants to improve their product offerings and create a lasting competitive edge.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Transportation, By Application, By Connectivity, By Operation |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Cisco Systems, Inc, Robert Bosch GmbH, Tech Mahindra Limited, Siemens, Continental AG, Sierra Wireless, Samsung Electronics Co. Ltd. (Harman International Industries, Inc.), Globecomm Systems Inc. (Speedcast International Limited), International Business Machines Corporation (IBM), DENSO CORPORATION |
COVID-19 Impact on Global Smart Fleet Management Market
The COVID-19 pandemic is causing market uncertainty through slowing down supply chains, impeding company expansion, and raising anxiety among particular client segments. Fleet managers are expected to concentrate on managing working capital, and significant investments in cutting-edge technology are rare. However, given its operational viability in achieving safety measures and operational cost-effectiveness, smart fleet management technology is likely to see a surge in sales. In the short term, to combat the financial slump, market participants in smart fleet management are managing fleet operations by cutting fleet budgets, extending equipment lifecycles, reducing staffing levels, and lowering compensation.
Key Target Audience
- Fleet Operators
- Automotive Electronic System manufacturers
- Rolling Stock Manufacturers
- Investment Firms
- Equity Research Firms
- Private equity firms
Our in-depth analysis of the Smart Fleet Management Market includes the following segments:
| By Mode of Transportation: |
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| By Application: |
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| By Connectivity: |
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| By Operation: |
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| By Region: |
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Key Topics Covered in the Report
- Global Smart Fleet Management Market Size (FY’2023-FY’2033)
- Overview of Global Smart Fleet Management Market
- Segmentation of Global Smart Fleet Management Market By Mode of Transportation (Roadways, Marine, Airways, Railways)
- Segmentation of Global Smart Fleet Management Market By Application (Tracking, ADAS, Optimization, Fuel Cards, Automatic Vehicle Identification, Others)
- Segmentation of Global Smart Fleet Management Market By Connectivity (Short Range, Long Range)
- Segmentation of Global Smart Fleet Management Market By Operation (Private, Commercial)
- Statistical Snap of Global Smart Fleet Management Market
- Expansion Analysis of Global Smart Fleet Management Market
- Problems and Obstacles in Global Smart Fleet Management Market
- Competitive Landscape in the Global Smart Fleet Management Market
- Impact of COVID-19 and Demonetization on Global Smart Fleet Management Market
- Details on Current Investment in Global Smart Fleet Management Market
- Competitive Analysis of Global Smart Fleet Management Market
- Prominent Players in the Global Smart Fleet Management Market
- SWOT Analysis of Global Smart Fleet Management Market
- Global Smart Fleet Management Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Smart Fleet Management Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Smart Fleet Management Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Smart Fleet Management Market
7. Global Smart Fleet Management Market, By Mode of Transportation (USD Million)
7.1. Global Smart Fleet Management Market Value Share and Forecast, By Mode of Transportation, 2023-20337.2. Roadways7.3. Marine7.4. Airways7.5. Railways
8. Global Smart Fleet Management Market, By Application (USD Million)
8.1. Global Smart Fleet Management Market Value Share and Forecast, By Application, 2023-20338.2. Tracking8.3. ADAS8.4. Optimization8.5. Fuel Cards8.6. Automatic Vehicle Identification8.7. Others
9. Global Smart Fleet Management Market , By Connectivity (USD Million)
9.1. Global Smart Fleet Management Market Value Share and Forecast, By Connectivity, 2023-20339.2. Short Range9.3. Long Range
10. Global Smart Fleet Management Market , By Operation (USD Million)
10.1. Global Smart Fleet Management Market Value Share and Forecast, By Operation, 2023-203310.2. Private10.3. Commercial
11. Global Smart Fleet Management Market Forecast, 2019-2033 (USD Million)
11.1. Global Smart Fleet Management Market Size and Market Share
12. Global Smart Fleet Management Market, By Mode of Transport, 2019-2033 (USD Million)
12.1. Global Smart Fleet Management Market Size and Market Share By Mode of Transport (2019-2026)12.2. Global Smart Fleet Management Market Size and Market Share By Mode of Transport (2027-2033)
13. Global Smart Fleet Management Market, By Application, 2019-2033 (USD Million)
13.1. Global Smart Fleet Management Market Size and Market Share By Application (2019-2026)13.2. Global Smart Fleet Management Market Size and Market Share By Application (2027-2033)
14. Global Smart Fleet Management Market, By Connectivity, 2019-2033 (USD Million)
14.1. Global Smart Fleet Management Market Size and Market Share By Connectivity (2019-2026)14.2. Global Smart Fleet Management Market Size and Market Share By Connectivity (2027-2033)
15. Global Smart Fleet Management Market, By Operation, 2019-2033 (USD Million)
15.1. Global Smart Fleet Management Market Size and Market Share By Operation (2019-2026)15.2. Global Smart Fleet Management Market Size and Market Share By Operation (2027-2033)
16. Global Smart Fleet Management Market, By Region, 2019-2033 (USD Million)
16.1. Global Smart Fleet Management Market Size and Market Share By Region (2019-2026)16.2. Global Smart Fleet Management Market Size and Market Share By Region (2027-2033)16.3. Asia-Pacific
16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada16.6.2. Mexico16.6.3. United States
16.7. Latin America
16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. Cisco Systems, Inc.
17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments
17.2. Continental AG
17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments
17.3. DENSO CORPORATION
17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments
17.4. Globecomm Systems Inc. (Speedcast International Limited)
17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments
17.5. Harman International Industries, Inc. (part of Samsung Electronics Co. Ltd.)
17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments
17.6. International Business Machines Corporation (IBM)
17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments
17.7. Robert Bosch GmbH
17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments
17.8. Siemens
17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments
17.9. Sierra Wireless
17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments
17.10. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Smart Fleet Management Market is projected to reach USD 808.39 billion by 2033, growing at a CAGR of 10.1% during the forecast period.
Smart Fleet Management Market grew in market size from 2022. The Market is expected to reach USD 808.39 billion by 2033, at a CAGR of 10.1% during the forecast period.
Smart Fleet Management Market CAGR of 10.1% during the forecast period.
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Smart Fleet Management Market size is USD 808.39 billion from 2023 to 2033.
Smart Fleet Management Market Segment is covered By Transportation, By Application, By Connectivity, By Operation.
The North America is anticipated to have the highest market share in the Smart Fleet Management Market.
The key players in the market include Companies Covered Cisco Systems, Inc, Robert Bosch GmbH, Tech Mahindra Limited, Siemens, Continental AG, Sierra Wireless, Samsung Electronics Co. Ltd. (Harman International Industries, Inc.), Globecomm Systems Inc. (Speedcast International Limited), International Business Machines Corporation (IBM), DENSO CORPORATION.
Fleet operators can monitor their cars in real time to see if drivers are following the recommended route or if there are any deviations. Cloud-based solutions, such as AI, IoT, and big data, are utilized to acquire primary data for fleet management.
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