Smart fleet management market to grow at a CAGR of 11.37% by 2027, Market is driven by government regulations for fleet management - Technavio

NEW YORK, Feb. 23, 2023 /PRNewswire/ -- According to Technavio, the global smart fleet management market size is estimated to grow by USD 305.58 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 11.37% during the forecast period. Moreover, the growth momentum will accelerate. APAC will account for 40% of the market's growth. The report also includes historic market data from 2017 to 2021. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more insights on the historic (2017 to 2021) and forecast market size (2022 to 2027)  – Request a sample report

Smart fleet management market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (Tracking, ADAS, Optimization, Fuel cards, and Automatic vehicle identification), and type (Roadways, Railroad, Marine, and Aviation).

• The tracking segment will grow at the highest rate during the forecast period. When technicians install these devices in their fleet, they can track the movement and location of each vehicle in real-time. Popular telematics solutions give you access to this data so you can track exactly where your vehicle is, where it starts, where it stops, and how long it's been. Tracking improves efficiency, and customer service is also improved because consumers know when their vehicles will arrive. To help reduce costs, the system could potentially be expanded to include sensors that monitor fuel levels, door opening and closing, and other events. Such factors are expected to drive the adoption of intelligent fleet management systems, driving the growth of the market during the forecast period. 

Geography Overview
By geography, the global smart fleet management market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global smart fleet management market.

• APAC is estimated to account for 40% of the growth of the global market during the forecast period. Factors such as changes in government approaches towards fleet drivers, operators, goods, and passenger safety have imposed many regulations that require transportation original equipment manufacturers (OEMs) to install safety features. increase. Improving socio-economic conditions in countries such as Thailand, Indonesia, India, and China have increased the demand for premium vehicles. This has boosted the markets in these countries during the forecast period. 

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Smart fleet management market – Market Dynamics
Key factor driving market growth

• The government regulations for fleet management are the key factor driving the global smart fleet management market growth. 
• Fleet operators closely monitor fleet vehicles and driver behavior patterns and place increasing emphasis on the regulation of the working environment.
• In addition, the Federal Travel Regulations (FTR), the Facilitation of the Federal Fleet Policy Council (FEDFLEET), and the Federal Management Regulations (FMR) also regulate US fleet management.
• With the increasing number of regulations coming into force this year and in the future, there is a constant focus on software and data.
• Owners and operators are increasingly looking for ways to automate regulatory and operational data reporting to increase efficiency and facilitate onshore intervention and control. Such factors drive market growth during the forecast period. 

Leading trends influencing the market 

• Increasing adoption of telematics and autonomous vehicles, and the growing incorporation of electronic vehicles in company fleets is the primary trend in the global smart fleet management market growth.
• Advanced technologies such as telematics are core components to ensure driver safety and proper accident management. Telematics helps fleet managers operate vehicle fleets effectively and safely.
• Autonomous vehicles are self-driven vehicles and can operate without human interference and supervision. They sense their environmental conditions and navigate autonomously using technologies such as GPS, Light Detection and Ranging (LIDAR), radar, and advanced control systems.
• Although the concept of autonomous vehicles is yet to be accepted, it is expected to pick up the pace during the forecast period.

Major challenges hindering market growth

• Fleet data management issues are a major challenge to the global smart fleet management market growth. 
• Fleet operators receive vast amounts of data about the day-to-day operations of their fleets through various channels, such as employee and technician documentation, fuel costs, vehicle miles traveled, and work order performance.
• The development of maritime information technology has two main characteristics which require comprehensive data management. The change that is taking place can be seen in the rapid increase in the use of cloud and mobile solutions.
• These improve data accessibility, facilitate access to sensor data, and influence the amount of data available.
• Furthermore, in order to offer customer-specific services in FMS, the provider must use special software to collect the necessary data and evaluate it according to the fleet operator's requirements.
• Information provided by fleet employees is often inaccurate and can result in loss of business. These factors are expected to challenge the growth of the market during the forecast period. 

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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 size and its contribution to the market in focus on 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

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global smart fleet management market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global smart fleet management market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Tracking - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Tracking - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Tracking - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Tracking - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Tracking - Year-over-year growth 2022-2027 (%)

• 6.4 ADAS - Market size and forecast 2022-2027 
• Exhibit 38: Chart on ADAS - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on ADAS - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on ADAS - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on ADAS - Year-over-year growth 2022-2027 (%)

• 6.5 Optimization - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Optimization - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Optimization - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Optimization - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Optimization - Year-over-year growth 2022-2027 (%)

• 6.6 Fuel cards - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Fuel cards - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Fuel cards - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Fuel cards - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Fuel cards - Year-over-year growth 2022-2027 (%)

• 6.7 Automatic vehicle identification - Market size and forecast 2022-2027 
• Exhibit 50: Chart on Automatic vehicle identification - Market size and forecast 2022-2027 ($ billion)
• Exhibit 51: Data Table on Automatic vehicle identification - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Chart on Automatic vehicle identification - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Automatic vehicle identification - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Application 
• Exhibit 54: Market opportunity by Application ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 55: Chart on Type - Market share 2022-2027 (%)
• Exhibit 56: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 57: Chart on Comparison by Type
• Exhibit 58: Data Table on Comparison by Type

• 7.3 Roadways - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Roadways - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Roadways - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Roadways - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Roadways - Year-over-year growth 2022-2027 (%)

• 7.4 Railroad - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Railroad - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Railroad - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Railroad - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Railroad - Year-over-year growth 2022-2027 (%)

• 7.5 Marine - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Marine - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on Marine - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on Marine - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Marine - Year-over-year growth 2022-2027 (%)

• 7.6 Aviation - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Aviation - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on Aviation - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on Aviation - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Aviation - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 75: Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 76: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 77: Chart on Market share by geography 2022-2027 (%)
• Exhibit 78: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 79: Chart on Geographic comparison
• Exhibit 80: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 89: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 97: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 101: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 105: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027 
• Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 113: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 114: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 115: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 117: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 118: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 119: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 120: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 121: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 122: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 123: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 124: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 125: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 126: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 127: Matrix on vendor position and classification

• 12.3 Avnet Inc.
• Exhibit 128: Avnet Inc. - Overview
• Exhibit 129: Avnet Inc. - Business segments
• Exhibit 130: Avnet Inc. - Key news
• Exhibit 131: Avnet Inc. - Key offerings
• Exhibit 132: Avnet Inc. - Segment focus

• 12.4 Cisco Systems Inc.
• Exhibit 133: Cisco Systems Inc. - Overview
• Exhibit 134: Cisco Systems Inc. - Business segments
• Exhibit 135: Cisco Systems Inc. - Key news
• Exhibit 136: Cisco Systems Inc. - Key offerings
• Exhibit 137: Cisco Systems Inc. - Segment focus

• 12.5 CLM Fleet Management Plc 
• Exhibit 138: CLM Fleet Management Plc - Overview
• Exhibit 139: CLM Fleet Management Plc - Product / Service
• Exhibit 140: CLM Fleet Management Plc - Key offerings

• 12.6 Continental AG
• Exhibit 141: Continental AG - Overview
• Exhibit 142: Continental AG - Business segments
• Exhibit 143: Continental AG - Key offerings
• Exhibit 144: Continental AG - Segment focus

• 12.7 DENSO Corp.
• Exhibit 145: DENSO Corp. - Overview
• Exhibit 146: DENSO Corp. - Business segments
• Exhibit 147: DENSO Corp. - Key news
• Exhibit 148: DENSO Corp. - Key offerings
• Exhibit 149: DENSO Corp. - Segment focus

• 12.8 FleetGO Group Ltd.
• Exhibit 150: FleetGO Group Ltd. - Overview
• Exhibit 151: FleetGO Group Ltd. - Product / Service
• Exhibit 152: FleetGO Group Ltd. - Key offerings

• 12.9 Fleetsmart
• Exhibit 153: Fleetsmart - Overview
• Exhibit 154: Fleetsmart - Product / Service
• Exhibit 155: Fleetsmart - Key offerings

• 12.10 International Business Machines Corp. 
• Exhibit 156: International Business Machines Corp. - Overview
• Exhibit 157: International Business Machines Corp. - Business segments
• Exhibit 158: International Business Machines Corp. - Key news
• Exhibit 159: International Business Machines Corp. - Key offerings
• Exhibit 160: International Business Machines Corp. - Segment focus

• 12.11 ORBCOMM Inc.
• Exhibit 161: ORBCOMM Inc. - Overview
• Exhibit 162: ORBCOMM Inc. - Product / Service
• Exhibit 163: ORBCOMM Inc. - Key offerings

• 12.12 Robert Bosch GmbH
• Exhibit 164: Robert Bosch GmbH - Overview
• Exhibit 165: Robert Bosch GmbH - Business segments
• Exhibit 166: Robert Bosch GmbH - Key offerings
• Exhibit 167: Robert Bosch GmbH - Segment focus

• 12.13 Siemens AG
• Exhibit 168: Siemens AG - Overview
• Exhibit 169: Siemens AG - Business segments
• Exhibit 170: Siemens AG - Key news
• Exhibit 171: Siemens AG - Key offerings
• Exhibit 172: Siemens AG - Segment focus

• 12.14 Sierra Wireless Inc.
• Exhibit 173: Sierra Wireless Inc. - Overview
• Exhibit 174: Sierra Wireless Inc. - Business segments
• Exhibit 175: Sierra Wireless Inc. - Key offerings
• Exhibit 176: Sierra Wireless Inc. - Segment focus

• 12.15 Speedcast International Ltd. 
• Exhibit 177: Speedcast International Ltd. - Overview
• Exhibit 178: Speedcast International Ltd. - Product / Service
• Exhibit 179: Speedcast International Ltd. - Key offerings

• 12.16 Tech Mahindra Ltd.
• Exhibit 180: Tech Mahindra Ltd. - Overview
• Exhibit 181: Tech Mahindra Ltd. - Business segments
• Exhibit 182: Tech Mahindra Ltd. - Key offerings
• Exhibit 183: Tech Mahindra Ltd. - Segment focus

• 12.17 TomTom International BV 
• Exhibit 184: TomTom International BV - Overview
• Exhibit 185: TomTom International BV - Business segments
• Exhibit 186: TomTom International BV - Key offerings
• Exhibit 187: TomTom International BV - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 188: Inclusions checklist
• Exhibit 189: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 190: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 191: Research methodology
• Exhibit 192: Validation techniques employed for market sizing
• Exhibit 193: Information sources

• 13.5 List of abbreviations 
• Exhibit 194: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

Contact
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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