Increasing adoption of smart fleet management analytics is anticipated to fuel the demand of Smart Fleet Management market over the coming years
Smart fleet management system enables operators to check on factors like fuel consumption, vehicle maintenance, route management, and driver performance. These systems provide a devoted server for fleet data and security in a single system, that is further expected to increase the market share in the coming years. The adoption of this technology further allows the operator to monitor the driver behaviour and measure maintenance costs. In addition, these systems ease the downloading of the fleet data to analyse, measure and make cost effective decisions to improve/enhance safety. For instance, the managers can analyse the fuel efficiency of a vehicle based on the route opted. These factors are expected to propel the smart fleet management market during the forecast period.
Advancements in Internet of Things (IoT) and wireless technology will provide opportunity to the global market. An increase in the mobile connectivity to deliver safer, cost-effective, and greener services is expected to Fuel the smart fleet management market over the forecast period. The increasing cost of this system and complexity associated with it hinders the market growth. Continuously growing fleet sizes and the routes travelled increase the complexity of the system. The abundant amount of data generated by continuous location tracking of the vehicles is likely to challenge the industry growth. Technological advancements across IoT and connected cars are likely to propel the adoption of smart fleet solutions during the forecast period. In addition, the adoption of IoT and telematics may bring opportunities in smart fleet management which may expand exponentially.
Telematics service providers and OEMs in the smart fleet management market are focus on developing solutions to confirm compatibility with future standards to rise ease-of-maintenance and scalability. Telematics providers are also focus on developing the integrated modules and SIMs to connect to cellular networks as vehicles travel between urban & rural areas, network provider boundaries, and cellular network boundaries from 2G to 3G and 4G. These modules are intended to achieve scalability and optimum coverage that remain compatible with the changing technology.
Bosch Limited, Continental AG, DENSO CORPORATION, Harman International Industries, Inc., Siemens AG, IBM Corporation, Sierra Wireless, Cisco, Calamp Corp., Precious Shipping Public Company Limited among others are the major players in the global Smart Fleet Managements market.