Smart fleet management market size to increase by USD 305.58 billion | The market is driven by factors such as real-time fleet monitoring increasing operational fleet efficiency - Technavio

NEW YORK, Nov. 19, 2023 /PRNewswire/ -- The Smart Fleet Management Market by Application, Type and Geography - Forecast and Analysis 2023-2027 report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 11.37% and register an incremental growth of USD 305.58 billion during the forecast period. The market is driven by factors such as government regulations for fleet management, real-time fleet monitoring increasing operational fleet efficiency, fleet security, and optimized fuel management. However, the fleet data management issues are hindering the market growth. The report provides a comprehensive analysis on growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download a PDF Sample Report

Regional analysis

By region, the global smart fleet management market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. APAC will account for 40% of the market's growth during the forecast period. Improving socioeconomic conditions in Thailand, Indonesia, India, and China have resulted in increased demand for a premium category fleet which is driving the growth of the regional market.

Company profiles

The smart fleet management market report includes information on the key products and recent developments of leading vendors, including:

• Cisco Systems Inc: The company offers solutions for smart fleet management against traffic congestion and helps save lives by providing safety and dynamic rerouting updates to travelers. 
• CLM Fleet Management Plc: The company offers solutions for smart fleet management to meet mobility and service delivery requirements. 
• Continental AG: The company offers solutions for smart fleet management to optimize fleet management and store data in accordance with the law where the software consists of individual services that can be added as required. 
• DENSO Corp: The company offers solutions for smart fleet management which detect the environment around vehicles such as pedestrians, other vehicles and roads, thus contributing to advanced safety and realization of automated driving. 
• FleetGO Group Ltd.
• Fleetsmart
• International Business Machines Corp.
• Oracle Corp.
• ORBCOMM Inc.
• Robert Bosch GmbH
• To gain access to more vendor profiles available with Technavio, buy the report

Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Request a Sample

Market segmentation

• By application, the market is segmented into tracking, ADAS, optimization, fuel cards, and automatic vehicle identification. The tracking segment accounted for the largest share of the market during the forecast period.
• By geography, the market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. APAC held the largest share of the market during the forecast period.

Related Reports:

Intelligent Transport System (ITS) Market by Application, Type, and Geography - Forecast and Analysis 2023-2027: The intelligent transport system (ITS) market is estimated to grow at a CAGR of 8.49% between 2022 and 2027. The size of the market is forecast to increase by USD 33.39 billion. The increasing traffic congestion and road accidents are notably driving the market growth, although factors such as system integration and interoperability issues may impede the market growth.

Vehicle to Grid Market by Product, Vehicle Type, and Geography - Forecast and Analysis 2023-2027: The vehicle-to-grid market is estimated to grow at a CAGR of 31.5% and the size of the market is forecast to increase by USD 29,788.38 million between 2022 and 2027. The improvements in EV battery technology are notably driving the market growth, although factors such as Interoperability issues may impede the market growth. 

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What are the key data covered in this smart fleet management market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the smart fleet management market between 2023 and 2027
• Precise estimation of the size of the smart fleet management market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the smart fleet management market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of smart fleet management market vendors

Table of contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio