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IoT Fleet Management Market Size, Share Global Analysis Report, 2021 – 2026
IoT Fleet Management Market By Platform (Device Management, Application Management, & Network Management), By Services (Professional & Managed), By Deployment Mode (Private, Public, &Hybrid), By Applications (Driver Tracking & Monitoring, Fleet Analytics, Fuel Management, Predictive Maintenance, &Remote Diagnostics), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026
Industry Insights
[213+ Pages Report] The latest finding surrounding the Global IoT Fleet Management Market has recently been published by Facts & Factors in a neatly packaged and comprehensive read. We at facts and factors estimate that the global IoT fleet management market will reach a projected value of USD 12.3 Billion in the year 2026 growing at a CAGR of 19.9% from an initial value of USD 4.3 Billion in the year 2020.
Market Overview
IoT fleet management refers to the intense coordination of interconnectivity measures that can be applied between devices and in-field assets through wireless cloud networks that are often provided by IoT-based networks that allow for a greater transition between business and employees to be far more transparent and efficient. These measures help business owners to better strategize and plan that further integrates into providing measurable insights towards their operations by improving fleet management, increasing overall productive hours, and adapt advanced processes toward adjusting a new sense of technology.
Industry Growth Factors
The primary force for significant force for the global IoT fleet management market is the rising demand for optimizing business operations coupled with rising demand for continuous demand for real-time fleet monitoring solutions to name a few. Additionally, a rising number of government regulations are aimed at mandating fleet safety coupled with increased visibility of vehicular internet connectivity is expected to increase the footprint of the global IoT fleet management market during the forecast duration. Moreover, factors pertaining to increased functionality in terms of vehicle tracking and monitoring, predictive maintenance, remote diagnostics, and driver performance and tracking are expected to boost the global IoT fleet management market during the forecast period.
The global IoT fleet management market is expected to be driven by factors pertaining to increased integration of electronic devices and smartphones within the automotive sectors coupled with the advent of the ongoing pandemic which has called for better resource management to name a few. Factors pertaining to the rising of smart technology in vehicles coupled with the increasing focus of key market players onR&D are expected to fuel the growth of the global IoT fleet management market during the forecast period. However, increasing technical complexities coupled with a lack of a skilled workforce is expected to hamper the growth of the global IoT fleet management market during the forecast period.
Segmentation Analysis
The global IoT fleet management market is segmented into the platform, services, deployment mode, applications, and region.
On the basis of the platform, the global IoT fleet management market is divided into device management, application management, and network management. The device management segment is expected to witness the largest market share during the advent of the forecast owing to increased functionality of functions pertaining to remote management of services in terms of remote management of devices, carrying out factory reset measures, and downloading and uploading system firmware, among others. On the basis of services, the global IoT fleet management market is bifurcated into professional & managed. The segment pertaining to managed services is expected to witness the largest market share during the advent of the forecast owing to a paradigm shift in consumers to the latter due to cost-effective measures coupled with rising infrastructure complexities among others. On the basis of deployment mode, the global IoT fleet management market is fragmented into private, public, and hybrid. The public deployment mode is expected to witness the largest market share during the advent of the forecast owing to better security measures due to limited users coupled with decreasing pricing models and rising reliability measures to name a few. On the basis of applications, the global IoT fleet management market is categorized into driver tracking & monitoring, fleet analytics, fuel management, predictive maintenance, and remote diagnostics. The fleet analytics segment is expected to witness the largest market share during the advent of the forecast owing to increased cost-effective measures employed for the implantation of the latter sector coupled with the rising number of IoT-based fleets and increasing transportation demands to name a few.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 4.3 Billion |
Projected Market Size in 2026 |
USD 12.3 Billion |
CAGR Growth Rate |
19.9% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
AT&T, Cisco Systems, Inc., Verizon, Trimble, Inc., IBM, Telefonica, Intel Corporation, Sierra Wireless, Omnitracs, and Tomtom International, among others |
Key Segments |
Platform, Services, Deployment Mode, Applications, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Purchase Options |
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Regional Analysis
North America is expected to witness the largest market share during the advent of the forecast owing to increasing sales of commercial vehicles in the region coupled with the rising number of key market participants to name a few. Additionally, favorable government policies coupled with an increasing number of mergers & acquisitions among the competitors are expected to increase the footprint of the IoT fleet management market during the forecast period. Asia-Pacific is expected to witness the fastest growing CAGR during the advent of the forecast owing to rising penetration of smart devices, rising vehicular sales, and rising government initiatives aimed at increasing sales to name a few.
Competitive Players
The key market participants for the global IoT fleet management market are:
- AT&T
- Cisco Systems Inc.
- Verizon
- Trimble Inc.
- IBM
- Telefonica
- Intel Corporation
- Sierra Wireless
- Omnitracs
- Tomtom
By Platform Segment Analysis
- Device Management
- Application Management
- Network Management
By Services Segment Analysis
- Professional
- Managed
By Deployment Mode Segment Analysis
- Private
- Public
- Hybrid
By Applications Segment Analysis
- Driver Tracking & Monitoring
- Fleet Analytics
- Fuel Management
- Predictive Maintenance
- Remote Diagnostics
Table of Content
Industry Major Market Players
- AT&T
- Cisco Systems Inc.
- Verizon
- Trimble Inc.
- IBM
- Telefonica
- Intel Corporation
- Sierra Wireless
- Omnitracs
- Tomtom
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