The global internet of things (IoT) fleet management market is prognosticated to testify a strong impression exhibited by new players with their niche products. Founded in 2011, Incedo announced the launch of its integrated IoT services portfolio, IoT NXT, on August 22, 2017. At the launch, the company also publicized its tactical partnerships with IBM and ConnectM. FleetUp and Aeris also joined hands recently to help service and distribution businesses worldwide to better their fleet management operations via the use of IoT-enabled logging devices. This is expected to bring a breakthrough in the implementation of certified electronic logging devices (ELDs) to record hours of service (HOS) as mandatorily required by the U.S. Department of Transportation (DOT).
Transparency Market Research (TMR) prophesied the global IoT fleet management market to rise at a CAGR of 20.0% for the forecast period 2017–2025. By the concluding forecast year, the market could be worth a US$15.8 bn. In 2016, the market earned a revenue of US$3.3 bn.
How could Smartphones Motivate Demand for IoT Fleet Management?
The implementation of IoT fleet management is envisaged to be strongly boosted by the ubiquity of smartphones, which could have a defining impact on the world market. A surging count of transportation firms are expected to integrate their remote diagnostic, fuel management, routing, and tracking and monitoring processes with smartphones. Even automobile makers are predicted to leverage the beneficial features of smartphones by allowing a seamless connection with automobiles. This could be largely attributed to the emergence of IoT in the automobile industry. Furthermore, IoT could help to provide real-time traffic alerts and emergency roadside assistance.
The integration of IoT into fleet management operations is envisioned to highly advantage players with more opportunities to stand by. The world IoT fleet management market could be pampered by a significant demand propelled by several benefits such as enhanced customer satisfaction, improved response times, maximized dispatching and scheduling, upgraded fleet maintenance procedures, and better management of fuel and labor expenses.
Which Part of World could Provide Impetus to Global Market?
Players dealing with the business of IoT fleet management are projected to find North America as a lucrative regional market in the coming years. Though in the nascent phase of development, the IoT fleet management market in the region could offer a plethora of favorable prospects for technological developments until the end of 2025. This could be evident by the successful testing of the truck platooning concept by Daimler Trucks North America in 2015. Volvo Trucks, Daimler Trucks, and more original equipment manufacturers (OEMs) in the U.S. offer telematics solutions by shaking hands with local fleet solution providers and also independently. Regulatory developments made by the government, increased adoption of technologically sophisticated offerings, and rising sales of fleet automobiles are forecasted to augur well for the country-wide market in the U.S.
Download or View Report Brochure & ToC for more Professional and Technical Insights: http://www.transparencymarketresearch.com/report-toc/25583