Smart Fleet Management Market Size On The Rise: USD 960 Billion Revenue Targeted by 2030, Driven by 10.0% CAGR Growth

Advertisement

[219 + Pages Report] According to a market research study published by Zion Market Research, the demand analysis of Global Smart Fleet Management Market size & share revenue was valued at around USD 365 billion in 2022 and is estimated to grow about USD 960 billion by 2030, at a CAGR of approximately 10.0% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are TomTom Telematics, Trimble, KeepTruckin, Ryder System, LeasePlan, Omnitracs, Fleetmatics, WABCO, Verizon Connect, Teletrac Navman, Azuga, Zonar Systems, Donlen, Geotab, Samsara, and others.

Houston, TX, June 16, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Smart Fleet Management Market By Operation (Private And Commercial), By Connectivity (Cloud, Long, And Short-Range), By Application (Automatic Vehicle Identification, Fuel Cards, Optimization, ADAS, Tracking, And Others), By Mode Of Transportation (Railways, Airways, Marine, Roadways, And Others) And By Region: – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030.” in its research database.

“According to the latest research study, the demand of global Smart Fleet Management Market size & share in terms of revenue was valued at USD 365 billion in 2022 and it is expected to surpass around USD 960 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 10.0% during the forecast period 2023 to 2030.”

Advertisement

What is Smart Fleet Management? How big is the Smart Fleet Management Industry?

Smart fleet management is important to contemporary transportation and logistics operations. It comprises the incorporation of new technologies and intelligent solutions in order to efficiently manage and optimise many aspects of a fleet, such as the vehicles, the drivers, the routes, the fuel consumption, the maintenance, and the overall performance of the fleet.

Report Overview:

The global smart fleet management market size was valued at USD 365 billion in 2022 and is anticipated to reach USD 960 billion between 2023-2030. The smart fleet management market is expected to grow with a CAGR of 10.0% during the forecast period. The global smart fleet management market report offers a holistic evaluation of the market. Furthermore, the report provides a comprehensive analysis of market drivers, restraints, and the competitive landscape expected to play a substantial role in the market.

Smart fleet management utilizes advanced technologies to maintain and manage effective fleet operations. It ensures driver safety, intelligent surveillance, and several other digital applications vital for fleet management. The fleet management system encourages safe driving habits and offers continuous feedback regarding vehicle movements.

Fleet operators pose a requirement for tracking their vehicles in real-time. Therefore, smart fleet management systems utilize advanced technologies like AI, big data, and IoT to collect all the vital data using the cloud solutions needed by owners. Additionally, the launch of innovative products integrated with smart fleet management systems helps vendors enhance their productivity and efficiency. Also, it offers cost reduction, wide area coverage, quick access, etc., which in turn will boost the growth of the global smart fleet management market. Such a landscape significantly lowers downtime, thereby lowering repair expenses and liabilities. There is a growing demand for shared mobility services in developed countries like the US. Therefore, there is a surge in the trend of vehicle subscription, ride-sharing, rental, vehicle leasing, etc.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs – https://www.zionmarketresearch.com/sample/smart-fleet-management-market-size

(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 219+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Smart Fleet Management Market: Growth Factors

Increasing awareness among the consumer regarding the economical shared mobility services is also likely to propel the growth of the global smart fleet management industry. Also, the growth in the market revenue is attributed to the wide adoption of remote sensing capabilities. New frontiers are using drones, satellites, etc., for remote data. Also, the fast-developing healthcare, transportation, and defense industries will further widen the scope of the global market during the forecast period.

Growing urbanization and industrialization all across the globe, particularly in developing and underdeveloped countries, is likely to positively impact the growth trajectory of the global smart fleet management market. These services are being highly integrated with various tech options like geo-fencing and automated cellular tracking to offer drivers a convenient driving experience. The high deployment cost of fleet management is anticipated to hamper the growth of the global market. Additionally, there are increasing cases of data theft and cyber-attacks, which are expected to slow down the growth trajectory of the global market.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/smart-fleet-management-market-size

Report Scope

Report Attribute Details
Market Size in 2022 USD 365 billion
Projected Market Size in 2030 USD 960 billion
CAGR Growth Rate 10.0% CAGR
Base Year 2022
Forecast Years 2023-2030
Key Market Players TomTom Telematics, Trimble, KeepTruckin, Ryder System, LeasePlan, Omnitracs, Fleetmatics, WABCO, Verizon Connect, Teletrac Navman, Azuga, Zonar Systems, Donlen, Geotab, Samsara, and others.
Key Segment By Operation, By Connectivity, By Application, By Mode Of Transportation, and By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Importance of Smart Fleet Management Market:

The capacity of smart fleet management to increase operational efficiency, improve safety, lower costs, and provide useful information that can be used for informed decision-making is the primary reason for its importance. The following is a list of the primary reasons why the market for smart fleet management is of critical importance:

Enhanced Operational Efficiency: Intelligent fleet management solutions use real-time data, GPS tracking, and advanced analytics to streamline fleet operations, which results in increased operational efficiency. This involves things like boosting equipment utilisation, reducing idle time, and optimising routes to cut down on delivery delays as much as possible. Fleet managers are able to deploy resources more effectively when manual operations are automated, which leads to an increase in productivity and a reduction in operational costs.

Improved Safety and Compliance: Smart fleet management systems incorporate features such as driver behaviour monitoring, real-time vehicle tracking, and geofencing capabilities. These instruments assist in ensuring that drivers comply with traffic regulations, preventing unauthorised usage of vehicles, and monitoring driver performance. Smart fleet management helps to reduce the number of accidents that occur, improves both the safety of the drivers and the general public, and reduces the amount of liability that an organisation faces.

Cost Reduction and Enhanced Fuel Efficiency: An essential component of effective fleet management is fuel management that maximises efficiency. Fleet managers are able to discover inefficiencies and put plans in place to save fuel costs if they monitor the amount of fuel consumed, the amount of time the engine is allowed to idle, and the performance of the engine. The ability to do remote diagnostics and proactive maintenance is another benefit of using a smart fleet management system. These features help reduce the cost of vehicle maintenance and help avoid costly breakdowns.

Environmental Sustainability: Smart fleet management is an essential component in advancing sustainability, which is especially important in light of rising concerns regarding carbon emissions and other negative effects of human activity on the environment. Fleet managers can lessen their environmental impact by minimising their carbon footprint, which can be accomplished by optimising routes, cutting fuel use, and discovering environmentally friendly driving practises. This not only makes a positive contribution to the conservation of the natural world, but it also strengthens the organization’s standing in the community as one that is ecologically conscientious.

Real-time Monitoring and Analytics: Smart fleet management enables fleet managers to acquire useful insights into a variety of performance parameters by providing real-time monitoring and analytics capabilities. Fleet managers are able to make decisions based on the data gleaned through analysing data relating to fuel usage, driver behaviour, vehicle health, and operational efficiency. This allows fleet managers to identify areas for improvement and put strategies into place that will optimise fleet performance.

Regulatory Compliance and Reporting: The market for smart fleet management offers features that enable organisations in fulfilling their obligations to comply with regulatory requirements as well as report on those requirements. This involves complying with standards that are specific to the industry, keeping accurate records of driver logs and vehicle maintenance, and preserving accurate records. Fleet managers can alleviate the strain of administrative work and guarantee compliance with regulatory requirements by automating the processes involved in compliance.

The smart fleet management industry is absolutely necessary for the smooth operation of contemporary transportation and logistics.

Packaging Design and Simulation Technology Market: Opportunities

Numerous businesses heavily employ simulation technology because it reduces production costs. The programme facilitates the development and simulation testing of multiple prototypes. In addition, it aids in achieving error-free output throughout the production process, thereby preventing the production of defective products and the costs associated with them. In addition, it facilitates the reduction of time spent on R&D activities. All of these factors are anticipated to contribute to the growth of the packaging design and simulation technology industry. In the past, manufacturers had to invest a great deal of money in the creation of complex apparatus for their products. Prototypes were easily accessible, but failure rates were high, necessitating additional R&D expenditures to reduce such product failures.

Smart Fleet Management Market: Restraints

Fleet proprietors are increasingly concerned about pricing, which is likely to hinder the expansion of the global smart fleet management industry. The low return on investment (ROI) has a negative impact on the local fleet management companies, as they can scarcely afford to operate with these costs. For example, the installation fee, which is approximately $100, is prohibitively expensive for small enterprises. Expenses associated with telecom service fees, connectivity solutions, hardware, etc. are also anticipated to impede the growth trajectory of the global market.

Smart Fleet Management Market: Challenges

Cybercrime is growing at an alarming rate alongside the advancements in technology. Because of this, there is rising anxiety over the safety of sensitive information and vehicles using the smart fleet management system. However, it is expected to slow the expansion of the worldwide smart fleet management market over the next few years.

Smart Fleet Management Market: Segmentation Analysis

The global smart fleet management industry can be segmented into operation, connectivity, application, mode of transportation, and region.

By operation, the market can be segmented into private and commercial. The commercial segment leads the global market due to the growing requirement for transportation vehicles for the purpose of moving equipment, goods, and people. The fleets are majorly supervised by the government or the big enterprises.

By connectivity, the market can be segmented into cloud, long, and short-range. The short-range segment accounts for the largest share of the global smart fleet management industry due to the need for vital information required by drivers. However, the cloud segment is the fastest-growing segment owing to the high demand for connectivity and fleet management solutions.

By application, the market can be segmented into automatic vehicle identification, fuel cards, optimization, ADAS, tracking, and others. The tracking segment is the fastest-growing segment of the global smart fleet management industry due to the increasing demand from end-users and companies to navigate and keep their eyes rolling on their vehicles. However, the ADAS segment is also anticipated to witness extensive growth in the forthcoming years owing to the requirement for monitoring the in-vehicle performance. Also, it supports the driver while being on roads by guiding various landscapes like lane departure, collision, etc.

By mode of transportation, the market can be segmented into railways, airways, marine, roadways, and others. The roadways segment swipes the largest share of the global market due to the growing initiatives by the government to upgrade the road infrastructure. Also, the railway segment is expected to grow significantly in the global smart fleet management industry due to the growing demand for railway transport globally, particularly from underdeveloped and developing nations.

The global Smart Fleet Management market is segmented as follows:

By Operation

  • Private
  • Commercial

By Connectivity

  • Cloud
  • Long
  • Short-Range

By Application

By Mode Of Transportation

  • Railways
  • Airways
  • Marine
  • Roadways
  • Others

Browse the full “Smart Fleet Management Market By Operation (Private And Commercial), By Connectivity (Cloud, Long, And Short-Range), By Application (Automatic Vehicle Identification, Fuel Cards, Optimization, ADAS, Tracking, And Others), By Mode Of Transportation (Railways, Airways, Marine, Roadways, And Others) And By Region: – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030.”– Report at https://www.zionmarketresearch.com/report/smart-fleet-management-market-size

Competitive Landscape

Some of the main competitors dominating the global Smart Fleet Management market include – 

  • TomTom Telematics
  • Trimble
  • KeepTruckin
  • Ryder System
  • LeasePlan
  • Omnitracs
  • Fleetmatics
  • WABCO
  • Verizon Connect
  • Teletrac Navman
  • Azuga
  • Zonar Systems
  • Donlen
  • Geotab
  • Samsara, Others.

 Key Insights from Primary Research:

  • According to the analysis shared by our research forecaster, the Smart Fleet Management market is likely to expand at a CAGR of around 10.0% during the forecast period (2023-2030).                  
  • In terms of revenue, the Smart Fleet Management market size was valued at around US$ 365 billion in 2022 and is projected to reach US$ 960 billion by 2030.
  • The growing digitalization of vehicles is likely to boost the global smart fleet management market growth.
  • Based on the operation, the commercial operation accounts for the largest share of the global market.
  • Based on the connectivity, the short-range segment is anticipated to hold the largest share of the global market.
  • Based on the application, the tracking segment is expected to dominate the global market
  • Based on the mode of transportation, the roadways segment swipes the largest share of the global market.
  • Based on region, Asia Pacific is expected to dominate the market during the forecast period.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/smart-fleet-management-market-size

Key questions answered in this report:

  • What is the market size and growth rate forecast for Smart Fleet Management industry?
  • What are the main driving factors propelling the Smart Fleet Management Market forward?
  • What are the leading companies in the Smart Fleet Management Industry?
  • What segments does the Smart Fleet Management Market cover?
  • How can I receive a free copy of the Smart Fleet Management Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2023−2030
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Operation, By Connectivity, By Application, By Mode Of Transportation, and By Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request for Customization on this Report as per your requirements – https://www.zionmarketresearch.com/custom/7231

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

North America accounts for the second-largest share of the global smart fleet management market. The increasing concerns regarding driver and vehicle safety are further expected to propel the growth of the regional market. There is an increasing need for tracking and monitoring of vehicles, thereby boosting the demand for the smart fleet management system.

Europe is also expected to witness steady growth in the forthcoming years due to the presence of strong market players in the region. Also, the increasing use of telematics and GNSS is further likely to positively impact the growth trajectory of the regional market in the forthcoming years.

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Recent Developments

  • LILEE Systems, in January 2022 at CES 2022, launched its innovative autonomous vehicle and fleet management software. LILEE Systems is the leading company offering autonomous driving systems and transportation safety solutions.
  • Siemens AG, in June 2022, launched Siemens Xcelerator, an open digital business platform to accelerate the digital revolution.
  • Cisco System Inc launched App Dynamics Cloud in June 2021 to offer an outstanding digital experience.

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/smart-fleet-management-market-size

Browse Other Related Research Reports from Zion Market Research:

Online Poker Market By Device Type (Mobile And Desktop), By End-User (Gambling Enthusiasts, Dabblers, And Social Exuberant) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/online-poker-market

U.S. Registered Nurses Market By End-User (Ambulatory Healthcare Services, Hospitals, Nursing Homes, And Others), By Gender (Male And Female), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/us-registered-nurses-market

U.S. Education Market – By Type (Cloud And On-Premise); By Content (Audio-Based Content, Video-Based Content, And Text: https://www.zionmarketresearch.com/report/us-education-market

HVAC Equipment Market By End-Use (Commercial, Residential, And Industrial), By Product (Ventilation, Heating, And Cooling), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/hvac-equipment-market

U.S. Integrated Delivery Network Market By Services Type (Long Term Health And Acute Care / Hospital Service), By Integration Model (Vertical And Horizontal), And By Region – Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/us-integrated-delivery-network-market

Cosmetic Packaging Market by Material Type (Plastic, Glass, Paper and Others), by Container Type (Jars, Bottles, Tubes, Sachets and Others) for Hair Care, Nail Care, Skin Care, Makeup and Other Applications: China Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022: https://www.zionmarketresearch.com/report/cosmetic-packaging-market

3D IC Market (LED, Memories, MEMS, Sensor, Logic and Others) by Substrate type (Silicon On Insulator and Bulk Silicon) for Information and Communication Technology, Military, Consumer Electronics and Others Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 – 2022: https://www.zionmarketresearch.com/report/3d-ic-market

Audio Communication Monitoring Market by Solution (Quality Analysis, Voice Biometric Access System, and Loudness Metering and Monitoring) for BPO, Telecommunication and IT, Banking and Financial, Insurance, Healthcare, Media and Entertainment, Transportation and Logistics and Others – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2022: https://www.zionmarketresearch.com/report/audio-communication-monitoring-market

Video Analytics Market by Type (Software and Services), by Application (Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, Automatic Number Plate Recognition (ANPR), Facial Recognition and Other Applications) Market for Border Security, Hospitality and Entertainment, City Surveillance, Transportation, Critical Infrastructure Protection, BFSI, Retail, Education and Others Verticals: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022: https://www.zionmarketresearch.com/report/video-analytics-market

Visitor Management Software Market By Product Type (Provisioning Software, Physical Security Information Management, and Physical Identity and Access Management); By Service (Professional Services, Managed Services, and Deployment & Integration); For Application (Critical Infrastructure Protection, Public Safety & Security, Energy Security, and Port Security); By Vertical (BFSI, Healthcare & Life sciences, IT & Telecom, Retail, Government & Public Sector, Aerospace & Defense, Education, and Others): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2025: https://www.zionmarketresearch.com/report/visitor-management-software-market

Electronic Access Control System Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024: https://www.zionmarketresearch.com/report/electronic-access-control-system-market

Digitization in Lending Market by Loan Type (Personal Loans, Auto Loans, and Business Loans); by Deployment (On Computer and On Smart Phone): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016– 2025: https://www.zionmarketresearch.com/report/digitization-in-lending-market

AR in Enterprise Market by Component (Hardware and Software); by Display Device (Head-Mounted Display, Smart Glass, and Head-up Display); by Enterprise Size (SME’s and Large Enterprise); by Application (Automotive, Aerospace and Defense, Medical, Gaming, and Retail)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016– 2025: https://www.zionmarketresearch.com/report/ar-in-enterprise-market

3D Optical Metrology Market, By Type (3D Automated Optical Inspection System, Optical Digitizer and Scanner, Laser Scanning, and Coordinate Measuring Machine); By Component (Software and Hardware) By Application (Quality Control, Reverse Engineering, Rapid Prototyping, Virtual Assembly, and Others); By Vertical (Aerospace & Defense, Automotive, Architecture & Construction, Medical, Electronics, Energy & Power, Heavy Machinery, and Others) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024: https://www.zionmarketresearch.com/report/3d-optical-metrology-market

Credit Management Software Market by Deployment Type (On-Premises, and Cloud), by Service Type (Consulting, Operation & Maintenance, and System Integration), by Organization Size (Small & Medium Enterprises, and Large Enterprises) Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2016 – 2025: https://www.zionmarketresearch.com/report/credit-management-software-market

Wavelength Division Multiplexer Market by Multiplexer Type (Coarse Wavelength Division Multiplexer (CWDM) and (DWDM) Dense Wavelength Division Multiplexer) Market for IT & Telecommunication, Healthcare, Manufacturing, Financial Services and Other Industry Verticals by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2023: https://www.zionmarketresearch.com/report/wavelength-division-multiplexer-market

Unblocked Games 66 EZ: https://techratoon.com/unblocked-games-66-ez/

Smart Fleet Management Market: https://www.linkedin.com/pulse/smart-fleet-management-market-size-share-industry-analysis-howard/

About Zion Market Research:

Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Follow Us on LinkedIn: https://www.linkedin.com/company/zion-market-research/

Follow Us on Twitter: https://twitter.com/zion_research

Follow Us on Facebook: https://www.facebook.com/zionmarketresearch

Follow Us on Pinterest: https://www.pinterest.com/zionmarketresearch/

Follow Us on YouTube: https://youtu.be/Y0Yfi7N8zSs

Contact Us:

Rushikesh Dorge

USA: +1 347 690-0211

United Kingdom: +44 2032 894158

Japan: +81 50 5806 9039

India: +91 7768 006 007

Web: https://www.zionmarketresearch.com/

Blog: https://zmrblog.com/

Blog: https://techpru.com/

Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media

Email Directly Here with Detail Information: [email protected]

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.