Smart Fleet Management Market Report

Smart Fleet Management Market Analysis By Transportation (Automotive, Rolling Stock, Marine), By Hardware (Tracking, Remote Diagnostics, ADAS, Optimization), By Connectivity (Short Range, Long Range, Cloud), And Segment Forecasts, 2018 - 2025

  • Published Date: Jan, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-286-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 110

Industry Insights

The global smart fleet management market size was valued at USD 291.1 billion in 2016 and is expected to expand at a CAGR of 7.7% over the forecast period. Need to achieve higher operational efficiencies and enhance vehicular safety is the primary factor driving the growth of the market. In addition, integration of connected car technologies within vehicles has enabled a variety of solutions that can help enhance fleet operations.

Various government regulations and initiatives aimed at creating a more reliable and secure transportation network are favoring the development of intelligent transport systems. Various government agencies have also been promoting the use of connected vehicle technologies to reduce energy consumption, curtail carbon emissions, and avoid road congestions. Smart fleet management solutions can help fleet operators to obtain information in real time and make informed decisions that can save costs and enhance operational efficiency.

U.S. smart fleet management market

Connected vehicle technology can offer numerous features and benefits such as tracking, monitoring, and enhanced safety and security. However, implementing the technology calls for a robust network infrastructure to ensure seamless connectivity and transfer of information in real time. Lack of adequate network infrastructure, especially in developing economies such as India and Mexico, is one of the major challenges that can restrict the growth of the smart fleet management market. Moreover, concerns about cyber-attacks and data-loss might equally diminish growth prospects for the market.

Transportation Insights

The automotive segment held the largest market share in 2016 and is expected to register the fastest growth over the forecast period. Connected vehicle technologies can enable remote monitoring and management of various operations such as fuel management, remote diagnostics, vehicle idle time, route optimization, and predictive maintenance. These solutions can enable fleet operators to optimize their fleet operations and reduce business risks. Such operational benefits, coupled with continued government regulations and initiatives for vehicular and road safety, are likely to drive the segment.

Hardware Insights

When compared by hardware, the Advanced Driver Assistance Systems (ADAS) segment is expected to demonstrate the highest growth rate in the market for smart fleet management. While several governments are continuously issuing regulatory mandates for vehicular safety, adoption of autonomous vehicle technologies is also growing. This serves as the primary factor driving the ADAS segment.

ADAS incorporate various components such as sensors, radars, LiDAR, and image processing units, which enhance safety and help avoid collisions. They also offer adaptive features such as cruise control, automated lighting, automated brakes, GPS navigation, and integration with smart devices to deliver alerts, all of which can enhance driving experience.

smart fleet management market

Fleet operators are also investing in fleet management solutions that can enable predictive maintenance and fleet optimization by tracking and managing diagnostic data remotely. Commercial fleets are subjected to extreme wear and tear, requiring regular maintenance for optimum performance. Remote diagnostics allows fleet operators to analyze vehicular data and predict component failures so that vehicle downtime can be reduced in case of a failure. Tracking and remote diagnostics can empower fleet operators with proactive capabilities that can reduce vehicle downtime and save costs.

Connectivity Insights

The short-range communication segment dominated the market for smart fleet management and is expected to continue doing so over the forecast period. Short-range communication technology allows vehicle-to-vehicle and vehicle-to-infrastructure communication, which can be used to share a myriad of information pertaining to traffic, position, routing, mapping, and navigation, among others. ADAS can use this data to enhance vehicular safety by triggering safeguard measures and avoiding collisions. As various governments continue toissue regulatory mandates to incorporate such technologies in vehicular systems, the market would continue to grow.

Cloud connectivity enables small and medium-sized fleet operators to adopt smart fleet management solutions without having to invest in infrastructure. Cloud-hosted smart fleet solutions can offer operators the ease to scale as per requirement and ensure lower cost of ownership while enabling them to optimize operations. Cloud solutions also offer enhanced security features that can safeguard business-critical data collected from various sources. Thus, cloud connectivity is expected to expand at the highest CAGR over the forecast period.

Smart Fleet Management Market Share Insights    

Prominent players operating in the market for smart fleet management include Cisco Systems, Inc.; Continental AG; IBM Corporation; Siemens AG; Robert Bosch GmbH; Tech Mahindra; Sierra Wireless; and Zonar Systems, Inc.

These players are focused on collaborating with various stakeholders and innovating new products. Companies are aggressively investing in research and development to further develop advanced and better autonomous vehicles, ADAS, IoT devices, and sensors, among others. Companies are also embarking upon mergers and acquisitions to expand their footprint in the market and enhance their product portfolio. For instance, Continental AG acquired Zonar Systems, Inc., a provider of fleet management solutions, to expand its presence in U.S. as well as to expand its mobility services portfolio.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Billion & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, and Rest of World (RoW)

Country scope

U.S., Canada, U.K., Germany, India, Japan, China, Brazil, and Mexico

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific market information that is not currently within the scope of the report, we will provide it to you as a part of the customization.


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and analyzes industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global smart fleet management market report on the basis of transportation, hardware, connectivity, and region:

  • Transportation Outlook (Revenue, USD Billion, 2014 - 2025)

    • Automotive

    • Rolling Stock

    • Marine 

  • Hardware Outlook (Revenue, USD Billion, 2014 - 2025)

    • Tracking

    • Remote Diagnostics

    • ADAS

    • Optimization

  • Connectivity Outlook (Revenue, USD Billion, 2014 - 2025)

    • Short Range Communication

    • Long Range Communication

    • Cloud

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Rest of World (RoW)

      • Brazil

      • Mexico

      • Others 

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $5,950
Multi User (2-5) - $7,950
BI Library Access - $9,950

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified