Global GPS Fleet Tracking Software Market is Expected to Grow at a CAGR of 15.72% by 2027 - Absolute Markets Insights

The global GPS fleet tracking software market was valued at US$ 15,341.20 Million in 2018 and is anticipated to reach US$ 57,042.29 Million by 2027

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Absolute Markets Insights

Dec 19, 2019, 09:10 ET

PUNE, India, Dec. 19, 2019 /PRNewswire/ -- The advent of advanced 4G and 5G connectivity has changed the face of mobile businesses. As technology continues to advance, companies are looking for innovative and advanced mechanisms to leverage faster network speeds and network capacity. 5G connectivity is thus, expected to stimulate the growth of global GPS fleet tracking software market. 5G connectivity will transcend the ability of operations within the fleet management industry by making communications easier. 5G capabilities is further expected to deliver cost and energy savings, faster response times, advanced device connectivity and greater system capacity, thereby contributing towards streamlining of operations.

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The global GPS fleet tracking software market participants are largely working towards developing connected fleet management solutions by using technologies that are scalable, easy to deploy, and compatible with existing and evolving standards. The adoption of integrated device-to-cloud IoT platforms, simplifies development, enables software updates across multiple devices and support applications integration with diverse range of solutions and service providers, thereby aiding the providers to reduce Total cost of ownership (TCO). Cloud-based services coupled with connectivity services allows the fleet operators to adopt flexible business models. Hence, increasing mobile network connectivity, network range and advancement of 4G and 5G technologies across regions is enabling efficient performance, along with excellent deployment in GPS fleet tracking software solutions.

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Key Findings of the Report:

The growing need for operating efficiency among fleet owners is largely contributing towards the growth of global GPS fleet tracking software market
The rapid increase in commercial fleet operations coupled with rapid adoption of fleet management solutions among them, is anticipated to fuel the market growth over the forecast period.
The increasing prominence of wireless technology along with enhanced expenditure capacity has influenced the growth in North America GPS fleet tracking software market. Asia Pacific, however, anticipated to register highest growth rate over the forecast period.

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Global GPS Fleet Tracking Software Market

By Deployment

On Premise
Cloud Based

By Component

Solution

Operations Measurement
Performance Measurement
Fleet Analytics
Others (Vehicle maintenance)

Services

GPS Fleet Tracking Software Market By Fleet Type

Commercial Fleet
Non-commercial Fleet

By Region:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

France
The UK
Spain
Germany
Italy
Nordic Countries

Denmark
Finland
Iceland
Sweden
Norway

Benelux Union

Belgium
The Netherlands
Luxembourg

Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Southeast Asia

Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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