IoT Fleet Management Market: Benefits, Challenges, and Future Trends

 Fleet management deals with tracking and maintenance of vehicles in a cost-effective, rapid, and accessible manner along with financing, driver management, and other features. It helps fleet owners to reduce the risks associated with staff cost, operations, and others. The benefits of adopting IoT fleet management include reduced fuel & overall running costs, enhanced safety, and optimized fleet operations with real-time fleet tracking and monitoring. 

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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.

Top Market Players -

Vnomics, Cisco Systems Inc., Verizon Communications Inc, AT&T Inc., Fleet Complete, Sierra Wireless, Tomtom International BV, Trimble Inc, Intel Corporation, Omnitracs, Honeywell International Inc., International Business Machines Corporation (IBM), Webfleet Solution, Telefonica S.A, NORTHRUP GRUNMAN

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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.

KEY FINDINGS OF THE STUDY

  • By end use industry, the retail and e-commerce segment is expected to register a significant growth during the forecast period.
  • By customer type, the b2b segment is projected to lead the global IoT fleet management market
  • By services, the intermodal segment is projected to lead the global IoT fleet management market
  • By mode of transport, the roadways segment is projected to lead the global IoT fleet management market
  • Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

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