The Smart Fleet Management Market size was valued at USD 487.23 Billion in 2023 and the total Smart Fleet Management Market revenue is expected to grow at a CAGR of 8.36% from 2024 to 2030, reaching nearly USD 854.65 Billion.
Smart Fleet Management Market Overview:
The market for smart fleet management includes driver management and other features in addition to effective vehicle tracking and maintenance that guarantees affordability, speed, and accessibility. It helps fleet owners lower the risks brought on by expensive labor, running their businesses, and other variables.
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Smart Fleet Management Market Dynamics:
A growing number of consumers are becoming aware that shared vehicles are less expensive than owned vehicles, which is driving up demand for shared mobility services worldwide. Developed economies like the U.S. have emerged as key markets for shared mobility services, which include vehicle leasing, rental, ridesharing, and vehicle subscription.
Market Scope:
The $61 billion purchase of VMware by Broadcom is set to take place in July 2023, making it one of the largest tech purchases ever. In just four years, the chipmaker firm has been involved in three multibillion-dollar tech mergers. The acquisition is primarily believed to be a strategic move intended to prevent rivals from leveraging VMware’s software to boost the functionality of their FC HBAs (Fibre Channel Host-Bus Adapters) and to extend Broadcom’s product offering beyond semiconductors.
Segmentation:
by Transportation
Automotive
Rolling Stock
Marine
by Hardware
Tracking
Optimization
ADAS
Remote Diagnostics
by Connectivity
Short-range communication
Long-Range Communication
Cloud
by Solution Vehicle
Tracking
Fleet Optimization
Key Players:
The research presents a competitive landscape through an in-depth examination of significant strategic developments undertaken by key market players in the Smart Fleet Management sector over time. The leading players in the global Smart Fleet Management market include:
Market for Smart Fleet Management in North America Important participants:
1. Nationally, HARMAN International
2. The American IBM Corporation
3. Canada’s Sierra Wireless
4. Cisco (USA)
5. CalAmp (USA)
6. ORBCOMM (USA)
7. Globecomm Systems Inc., a US company
8. American Zonar Systems
9. US-based Verizon Connect
10. US-based Trimble Inc.
11. The Canadian Geotab Inc.
12. American Teletrac Navman
13. Nauto (USA)
14. Fleet Full (Canada)
15. Samsara (USA)
The market for smart fleet management in Europe Important participants:
1. Germany’s Robert Bosch GmbH
2. Germany’s Continental AG
3. German company Siemens AG
4. The Netherlands’ TomTom International BV
5. UK-based Trakm8 Limited
6. German automaker BMW
Market for Smart Fleet Management in Asia-Pacific Important participants:
1. Japan’s DENSO CORPORATION
2. China’s CHAINWAYTSP CO., Ltd.
3. New Zealand’s EROAD
Key companies in the MEA Smart Fleet Management Market:
1. Combine
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Regional Analysis:
North America: (Canada, Mexico, and the United States)
Europe (including Russia, the UK, France, Germany, Italy, Spain, Sweden, Austria, and Turkey)
Asia Pacific includes ASEAN, Australia, South Korea, Japan, China, India, and the rest of the region.
Africa and the Middle East (South Africa, GCC, Egypt, Nigeria, and the Remainder of ME&A)
South America (Argentina, Brazil, Columbia, and Other South American Countries)
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COVID-19 Impact Analysis on the Market:
The increase in COVID-19 instances has led to a large expansion of the mobile application development sector. The vast amounts of data generated by social media platforms, the expanding trends in cloud computing, and the growing use of these solutions by small and medium-sized businesses present numerous opportunities for providers of Smart Fleet Management solutions. But the industry’s potential to expand is constrained by regulations, conflicting standards, problems with management workflow, and compliance and regulatory obligations. The development of this sector may be hampered by the lack of clear rules for Smart Fleet Management systems and a thorough strategy to deal with the growing problems related to unstructured data.
Key Questions Answered in the Smart Fleet Management Market Report:
What level of competition is there in the market for Smart Fleet Management ?
What are the main drivers of the Smart Fleet Management market’s expansion?
Which area of the Smart Fleet Management market has the biggest share?
What will the Smart Fleet Management market’s compound annual growth rate be between 2024 and 2030?
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