South America Smart Fleet Management Market: Outlook 2027 & Key Trends

South America Smart Fleet Management Market was at 3.47 Billion in 2020. Automotive is one of the segments reviewed in the MMR report dominating the Smart Fleet Management market.
South America Smart Fleet Management Market Overview:
A smart fleet solution is a fully integrated system for creating effective maintenance plans in the automotive industry. Smart fleet management services for aircraft and marine combine AI, IoT, and data analytics tools to improve vehicle budgeting, driver management, fuel management, and vehicle telematics. Furthermore, it provides increased productivity and efficiency to enterprises that are heavily reliant on the delivery of goods and services. It takes into account commercial, technical, and operational constraints. Fleet managers can perform operations more effectively and boost driver productivity if they have access to real-time fleet status and data. The smart fleet management market in the United States is anticipated from 2020 to 2027, taking into account all of the driving factors that have an equal impact on the smart fleet management market applications.



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The rise in real-time fleet monitoring systems in automobiles, the increased usage of cloud-based technology for smart fleet management solutions, and improvements in vehicle monitoring and fuel management are driving the expansion of the smart fleet management market. Furthermore, the market is driven by the introduction and integration of IoT and information, communication, and technology (ICT) into industries such as autos, logistics, and transportation. In addition, market growth has been fueled by continuous tracking of driver behaviour, vehicle tracking, real-time visibility, driver management, and other technologies. In addition, the emergence of effective communication networks, such as 4G, 5G, and other wireless technologies, as well as growth in the vehicle replacement market and increased international trade, are driving market expansion.

However, fleet owners' price worries and cyber security concerns are limiting industry growth. In the near future, increased awareness of greater driver and vehicle safety, as well as improved business decisions for fleet owners, are likely to provide profitable prospects for fleet management organizations. The market trends for smart fleet management are determined by the market prediction from 2020 to 2027. The rise in demand for features such as incident detection, access control, and speed limit enforcement with important improved safety and security features is one of the major factors driving the smart fleet management market share. Furthermore, according to the fundamental definition, the smart fleet management sector is solely reliant on sales, and the most recent innovation is carried out.

Vehicles with real-time fleet monitoring systems

Fleet managers may monitor their cars in real time to see if they are following the recommended route or if there are any detours. To obtain primary data for fleet management, cloud-based solutions such as AI, IoT, and big data are used. In addition, Techwave Consulting Inc. is monitoring high-value commodities with sensors that connect to the cloud and communicate data in real time. Vehicle and driver tracking, asset management, two-way communication, driver safety and time management, rescheduling the delivery task, and other activities are also important in smart fleet management. Furthermore, the introduction of innovative products and the benefits of using smart fleet management services, such as quick access and response, wide-area coverage, and cost reduction, assist vendors in increasing their productivity and efficiency, resulting in increased demand for smart fleet management services.

A smart fleet solution is a fully integrated system for creating effective maintenance plans in the automotive industry. Smart fleet management services for aircraft and marine combine AI, IoT, and data analytics tools to improve vehicle budgeting, driver management, fuel management, and vehicle telematics. Furthermore, it provides increased productivity and efficiency to enterprises that are heavily reliant on the delivery of goods and services. It takes into account commercial, technical, and operational constraints. Fleet managers can perform operations more effectively and boost driver productivity if they have access to real-time fleet status and data. The smart fleet management market in the United States is anticipated from 2020 to 2027, taking into account all of the driving factors that have an equal impact on the smart fleet management market applications. For example, smart fleet management-based solutions analyse all fleet information such as route planning, fuel analytics, and driving patterns to improve productivity and fuel savings, in addition to tracking Softweb's cloud-based solution powered by big data analytics, AI, IoT, and other emerging technologies. Furthermore, AI and machine learning capabilities enable autonomous dispatching and routing, as well as empowering fleet managers to forecast vehicle health and driving behaviours based on a vehicle's usage, resulting in decreased maintenance costs and increased efficiency. All of these elements, taken combined, have a substantial impact on market growth.

Geotab enters the Brazilian market, bringing global expertise and innovation to a critical industry.

Geotab Inc., a global pioneer in IoT & connected transportation with over 2.3 Mn active users and over 40,000 customers worldwide, is pleased to announce the launch of Geotab Telemática Ltda in Brazil. Geotab is well positioned to provide Brazil-based logistics and transportation customers with access to its advanced, award-winning telematics solution, bringing the company one step closer to expanding its presence, service offering, and leadership position within the Latin American fleet management market. Geotab's growth is a strategic move as it looks to invest in Brazil's people, resources, and market potential in order to assist drive telematics adoption and innovation throughout the region.

In the year 2019, more than 2.2 Mn vehicles were authorized to transport cargo in Brazil, according to data from the CNT 2020 Transport Yearbook. Road transport is still the most common mode of trade and freight transportation in Brazil, accounting for more than 60% of the country's transportation network. Brazil, as Latin America's largest economy, has a road network of over 1.7 Mn Km, making the country's fleet and transportation industry critical to the region's overall economic health. With this information in mind, Geotab's cutting-edge telematics solution is well positioned to assist Brazilian businesses and fleets in reducing fuel consumption, improving safety, optimizing productivity, and much more, all while increasing profitability in a critical industry. Geotab's suite of fleet management solutions and rich vehicle data analytics help to provide increased visibility into cargo movement and logistics, enabling vital communication between companies and their drivers, by processing more than 40 Bn data points per day from over 2 Mn connected vehicles around the world.

The objective of the report is to present a comprehensive analysis of the Smart Fleet Management Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Smart Fleet Management Market dynamics, structure by analyzing the Market segments and project the Smart Fleet Management Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Smart Fleet Management Market make the report investor’s guide.
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South America Smart Fleet Management Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US $ 3.47 Bn.


Forecast Period 2021 to 2027 CAGR:
11.1%
Market Size in 2027:
US $ 7.26 Bn.


 Segments Covered:
by  Transportation
• Automotive
• Rolling Stack
• Marine


by  Hardware
• Tracking
• Optimization
• ADAS
• Remote Diagnostics


by Connectivity
• Short Range Communication
• Long Range Communication
• Cloud


by Solution
• Vehicle Tracking
• Fleet Optimization



South America Smart Fleet Management Market, by Country
• Argentina
• Bolivia
• Brazil
• Chile
• Colombia
• Uruguay
• Paraguay
• Costa Rica
• Peru
South America Smart Fleet Management Market Key Players
• GlobalFleet
• Geotab
• Omnitracs LLC
• Zonar Systems Inc
• Siemens AG
• Denso Corporation
• Robert Bosch GmbH
• Sierra Wireless Inc
• ID Systems Inc (Powerfleet Inc)
• Continental AG
• Orbcomm Inc
• International Business Machines Corporation
• Cisco Systems Inc
• KalmarGlobal
• Qualcomm Technologies Inc

FAQ’S:

1) What is the share of the Global Smart Fleet Management Market in 2020?
Answer: The Smart Fleet Management Market was accounted for 3.47 Billion in the year 2020.

2) Which Solution segment is dominating the Smart Fleet Management Market?
Answer: Vehicle tracking segment is the dominating Material segment in the market.

3) What are the key players in the Smart Fleet Management Market?
Answer: GlobalFleet, Geotab, Omnitracs LLC, Zonar Systems Inc, Siemens AG, Denso Corporation, Robert Bosch GmbH,Sierra Wireless Inc, ID Systems Inc (Powerfleet Inc) Continental AG, Orbcomm Inc, International Business Machines Corporation, Cisco Systems Inc, KalmarGlobal, Qualcomm Technologies Inc.

4) Which factor acts as the driving factor for the growth of the Smart Fleet Management Market?
Answer: The major factors for the growth of the Smart Fleet Management market includes continuous rise in the need for vehicle safety and the proper management of large fleets.