Smart Fleet Management Market – Industry Analysis and Forecast (2017-2024) _ by Transportation (Automotive, Rolling Stack and Marine), by Hardware (Tracking, Optimization, ADAS and Remote Diagnostics), by Connectivity (Short Range Communication, Long Range Communication and Cloud), by Solution (Vehicle Tracking and Fleet Optimization), and by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)
Smart Fleet Management Market is expected to grow from USD 312.2 Billion in 2016 to USD 519.6 Billion by 2024, at a CAGR of 7.55 % between 2017 and 2024.
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Smart Fleet system enhances the safety of vehicles and offers cloud storage facilities & data analytics. Factors expected to drive the Smart Fleet Management Market growth are Rising Need to achieve higher operational efficiencies and enhance vehicular safety. Furthermore, integration of connected car technologies within vehicles has enabled a variety of solutions that can help enhance fleet operations are expected to fuel the Smart Fleet Management Market growth.
Report includes assessment of market definition along with the identification of key players and analysis of their strategies, complete quantitative analysis of the industry from 2016 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities, market analysis and comprehensive segmentation with respect to the on transportation, hardware, connectivity, solution, and geography to assist in strategic business planning.
Rising demand for high speed network is trending the overall Smart Fleet Management market. However, lack of adaptability in developing nations is estimated to restrain the market growth.
Advanced Driver Assistance System sub segment is expected to witness the significant growth of Hardware segment
Advanced Driver Assistance System is expected to lead the market growth in forecast period, ADAS system can integrate various components such as sensors, radars, LiDAR, and image processing units, and with that integration it enhances safety and help avoid collisions. Advanced Driver Assistance System also offer adaptive features such as cruise control, automated lighting, automated brakes, GPS navigation, and integration with smart devices to deliver alerts, all of which can enhance driving experience this factors are expected to fuel the Advanced Driver Assistance System segment growth during forecast period.
APAC is expected to register highest growth rate in the Market over forecast period
APAC is expected to lead the Smart Fleet Management Market during the forecast period. Increase in transportation facilities and stringent safety regulations in emerging economies like Japan, China and India is expected to fuel the global market in APAC region.
Scope of the Report:
Smart Fleet Management Market, By Transportation: Automotive, Rolling Stack and Marine
Smart Fleet Management Market, By Hardware: Tracking, Optimization, ADAS, and Remote Diagnostics
Smart Fleet Management Market, By Connectivity: Short Range Communication, Long Range Communication and Cloud
Smart Fleet Management Market, By Solution: Vehicle Tracking and Fleet Optimization
Smart Fleet Management Market, By Geography: North America, Europe, Asia Pacific, Middle East, Africa and Latin America
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