Smart Fleet Management Market to Grow at Over 6% CAGR until 2024
Technological advancements
and increasing onshore and offshore activities to propel global smart fleet
management market through 2024
According to a report published by TechSci
Research on “Global
Smart
Fleet Management Market By Transportation, By Connectivity, By Hardware, By
Solutions, By Region, Competition, Forecast & Opportunities, 2024”, global smart fleet management market
is projected to grow at a CAGR of over 6% during 2019-2024 on account of increasing
emphasis on energy/fuel efficiency in vehicle operations in addition to the
need for high-speed networks. Moreover, advancements in Internet of Things
(IoT) and wireless technology are expected to bring new capabilities to these
systems, thereby fueling demand for smart fleet management market globally.
Additionally, increasing mobile connectivity to deliver safer, cost-effective
and greener services is anticipated to augment global smart fleet management
market during forecast period.
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In terms of connectivity, smart fleet
management market is categorized into short range communication, long range
communication and cloud. Among these, short range communication type led global
smart fleet management market in 2018. Short range communication technology can
be used to share information regarding traffic jams, position, and best
possible route and can also help in avoiding collisions. These advanced systems
would also help to reduce traffic fatalities and increase operational
efficiency thereby contributing to growth of short range communication market.
Regionally, Asia-Pacific was
estimated to be the largest market for smart fleet management market in 2018,
owing to increasing transport facilities in countries like Japan, China, and
India and stringent safety regulations in these countries. Moreover, changing
government approach towards fleet operators, driver, passenger, and goods
safety has imposed many regulations, which mandate transportation OEMs to
deliver vehicles with installed safety features. Additionally, smart fleet
management market is further driven by the legislations regarding transport
safety, advancements in technology, and increasing demand for large ships and
vessel containers across the globe.
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“Demand
for smart fleet management is increasing across the globe owing to rising need
to achieve higher operational efficiencies and enhance vehicular safety. In
addition, integration of connected car technologies within vehicles has enabled
a variety of solutions that can help enhance fleet operations. Moreover, various
government regulations and initiatives aimed at creating more reliable and
secure transportation network are resulting in development of intelligent
transport systems, which is further positively influencing global smart fleet
management market.” said, Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global
Smart Fleet Management Market By Transportation, By Hardware, By Connectivity,
By Solution, By Region, By Company, Competition, Forecast & Opportunities, 2024”
has evaluated the future growth potential of the global Smart Fleet Management market
and provides statistics and information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global Smart Fleet Management market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
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Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
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