The Smart Fleet Management Market Market was at US$ 360 Bn in 2021 and is growing to approx US$ 600 Bn by 2030, with a CAGR growth of 9% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, August 30, 2022 /EINPresswire.com/ -- According to the study, The Global Smart Fleet Management Market was estimated at USD 360 billion in 2021 and is anticipated to reach around USD 600 billion by 2030, growing at a CAGR of roughly 9% between 2022 and 2030.

Smart Fleet Management Market Market: Overview

Smart Fleet Management comprises devices, software, and analytics, working together to facilitate businesses’ better manage their enterprise fleets. Driver safety data can be tracked using a variety of technological tools, including cameras, GPS tracking, accelerometers, direct feeds from the electronic control module, and even cameras built into the vehicle itself. These, taken as a whole, provide a thorough picture of driving effectiveness.

Smart Fleet Management Market Market: Growth Drivers

Fleet managers may monitor the whereabouts of their vehicles in real-time and determine whether or not drivers are taking the recommended route. Primary data is gathered for such fleet management via cloud-based systems like AI, IoT, and big data. For instance, Techwave Consulting Inc. monitors high-value goods as they connect to the cloud and transmit the data in real-time using sensors that can be integrated into vehicles. In addition, tasks like rescheduling the delivery task, asset management, two-way communication, driver safety, and time management are offered through Smart Fleet Management.

Additionally, the availability of cutting-edge goods and the benefits of Smart Fleet Management services such as rapid access and response, extensive coverage, and cost savings—help suppliers boost production and efficiency, which in turn increases demand for these services.

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Key Insights:

A) As per the analysis shared by our research analyst, the Smart Fleet Management market is estimated to grow annually at a CAGR of around 9% over the forecast period (2022-2030).
B) In terms of revenue, the Smart Fleet Management market size was valued at around USD 360 billion in 2021 and is projected to reach USD 600 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on transportation segmentation, the roadways segment was estimated to hold the maximum market share in the year 2021.
D) Based on application, the ADASsegment was the leading revenue-generating category in 2021.
E) Based on connectivity segmentation, the long-range segment was the leading revenue-generating category in 2021.
F) On the basis of region, the Asia Pacific region is anticipated to show a high CAGR during 2022-2030.

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Regional Landscape

During 2022-2030, the Asia-Pacific region is anticipated to have the highest market for Smart Fleet Management. The demand for Smart Fleet Management is increasing as a result of expanding transportation infrastructure in nations like Japan, China, and India, as well as strict safety standards. It is anticipated that the market for ADAS and telematics in the Asia-Pacific region will grow with the adoption of connectivity technology. Additionally, the region has some of the strictest car safety standards worldwide, which will increase demand for telematics and sophisticated driver assistance technology, supporting the growth of the Smart Fleet Management market.

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Key Players

Continental AG
DENSO CORPORATION
Globecomm Systems Inc.
Siemens
IBM Corp.
Robert Bosch GmbH
Cisco Systems, Inc
Tech Mahindra Limited
Samsung Electronics Co. Ltd.
Sierra Wireless

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The Smart Fleet Management Market Market is segmented as follows:

By Transportation Mode

Roadways
Railways
Airways
Marine

By Application

ADAS
Tracking
Fuel Cards
Optimization
Automatic Vehicle Identification

By Connectivity

Long Range
Short Range

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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