2019-10-18
A fresh report titled “Smart Fleet Management Market” has been presented by KD market insights. It evaluates the key market trends, advantages, and factors that are pushing the overall growth of the market. The report also analyzes the different segments along with major geographies that have more demand for Smart Fleet Management Market. The competition analysis is also a major part of the report. The global smart fleet management market was valued at $276.56 billion in 2017, and is projected to reach $537.53 billion by 2025, registering a CAGR of 8.9% from 2018 to 2025. In 2017, Asia-Pacific accounted for the highest share in the global smart fleet management market. Smart fleet solution is a fully integrated system used in automotive to simplify creation of effective maintenance plans. Smart fleet management services use software based on AI, IoT, and data analytics to enhance vehicle budget, driver management, fuel management, and vehicle telematics of aircraft & marine. Moreover, it benefits businesses that are significantly dependent on transportation of goods and services, with higher productivity and efficiency. It integrates commercial, technical, or operational requirements and restrictions. With access to real-time fleet status and fleet data, fleet managers can perform operations more effectively and increase driver productivity. The smart fleet management market forecasted from year 2018-2025 by considering all the driving factors that influence equally to the smart fleet management market applications. The global smart fleet management market segmented based on mode of transportation, application, connectivity, and region. Roadways, marine airways, and railways are studied under the mode of transportation segment. By application, the market is categorized into tracking, ADAS, optimization, and others. Depending on connectivity type, it is fragmented into short range and long range. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The smart fleet management industry size is calculated by considering all the countries shipments and traction technologies used in vehicles globally. The growth of the smart fleet management market is driven by rise in incorporation of real-time fleet monitoring systems in automobiles, increase in use of cloud-based technology for smart fleet management solutions, and improvement in vehicle monitoring & fuel management. Furthermore, advent and integration of IoT and information, communication, & technology (ICT) into industries such as automobiles, logistics, and transportation drive the market growth. In addition, continuous tracking of driver behavior, vehicle tracking, real-time visibility, driver management, and others has resulted in significant market growth. Furthermore, introduction of effective communication network with emergence of 4G, 5G, and other wireless technologies; growth in vehicle replacement market and increase in international trade fuel t...
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