According to the report published by Allied Market Research, the global IoT fleet management market generated $6.4 billion in 2021, and is estimated to reach $16 billion by 2031, witnessing a CAGR of 9.8% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chains, key investment pockets, competitive scenarios, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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There are prominent key factors that drive the growth of the IoT fleet management market, such as technological advancements across transportation & logistics sector, and increase in use of cloud-based technology for smart fleet management solutions. IoT fleet management provide effective fleet tracking, real-time monitoring, dedicated remote server for fleet data, and security features in a single system. Fleet operators track vehicles through route optimization or selection of best routes in real time that further reduce the transportation costs and idle time by increasing the operational efficiency. The purpose of IoT fleet management is to deliver effective real-time monitoring, fleet tracking, and security. In addition, data generated from IoT and sensors help in analyzing and making a cost effective decision as per requirement. For instance, a manager of a fleet of cars can get the data of fuel efficiency based on the route taken. Owing to all the aforementioned factors the IoT fleet management market is expected to grow significantly during the forecast period.
Leading players of the global IoT fleet management market analyzed in the research include
Cisco Systems Inc.,
AT&T Inc.,
Honeywell International Inc.,
Fleet Complete,
International Business Machines Corporation (IBM),
Intel Corporation,
Omnitracs,
Northrop Grumman Corporation,
Telefonica S.A,
Sierra Wireless,
Trimble Inc.,
Tomtom International BV,
Vnomics,
Verizon Communications Inc.,
Webfleet Solution (Bridgestone Mobility Solutions B.V.).
The report offers detailed segmentation of the global IoT fleet management market based on application, service, platform, type, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped into to achieve growth in the coming years.
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Based on application, the tracking and monitoring segment accounted for the highest share in 2021, contributing to more than one-fourth of the total share, and is expected to maintain its leadership status during the forecast period. In addition, the segment is expected to manifest the highest CAGR of 10.6% from 2022 to 2031.
Based on services, the professional segment held the largest share in 2021, accounting for more than half of the market, and is expected to maintain its dominance in terms of revenue by 2031. In addition, the segment is estimated to witness the largest CAGR of 10.3% during the forecast period.
On the basis of platform, the device management segment dominated the market in 2021, accounting for more than half of the global IoT fleet management market, and is projected to maintain its leading position throughout the forecast period. Furthermore, the segment is estimated to showcase the highest CAGR of 10.6% during the forecast period.
Based on type, the private segment held the largest share in 2021, contributing to more than two-fifths of the market. In addition, the segment is projected to register the highest CAGR of 10.7% from 2022 to 2031.
Based on region, the market across Asia-Pacific accounted for the highest share in 2021, contributing to more than one-third of the global IoT fleet management market, and is projected to continue its leadership status by 2031. In addition, the region is projected to portray the fastest CAGR of 10.6% during the forecast period.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 – https://www.alliedmarketresearch.com/request-for-customization/A12284
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