IoT Fleet Management Industry Report 2024 - Surge in Fleet Management for Last-mile Delivery Solutions - A US$37.7 Billion Market by 2030 - ResearchAndMarkets.com

The "IoT Fleet Management - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for IoT Fleet Management was estimated at US$11.1 Billion in 2023 and is projected to reach US$37.7 Billion by 2030, growing at a CAGR of 19.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the IoT fleet management market is driven by several factors, including regulatory compliance demands, advancements in data analytics, and the need for operational efficiency. Regulations mandating digital tracking of fleet activities and environmental compliance are pushing companies toward IoT adoption.

Additionally, data analytics provide fleet operators with valuable insights to improve efficiency and reduce costs. As logistics companies prioritize timely deliveries and cost-effective operations, IoT fleet management solutions are increasingly essential for achieving these goals, making this market a pivotal part of modern logistics and transportation management.

What Role Do Regulatory Requirements Play in IoT Fleet Management?

Regulatory requirements surrounding fleet management, particularly related to safety and environmental compliance, have accelerated the adoption of IoT solutions. Regulations such as the ELD (Electronic Logging Device) mandate in the U.S. require fleet operators to track drivers' hours digitally, which has led to widespread IoT implementation.

Compliance with emissions standards also encourages the use of IoT to monitor and control fuel consumption and reduce carbon footprints. These regulatory pressures are driving fleet operators to adopt IoT-enabled solutions that facilitate compliance, improve operational efficiency, and meet environmental targets.

How Are Data Analytics Enhancing IoT Fleet Management?

Data analytics play a critical role in maximizing the benefits of IoT fleet management, enabling companies to make informed decisions based on real-time data insights. Advanced analytics allow fleet managers to identify patterns in vehicle usage, maintenance needs, and fuel consumption, optimizing fleet performance and reducing operational costs.

Predictive analytics can also forecast potential vehicle failures, allowing for proactive maintenance that minimizes downtime. By combining IoT data with analytics, fleet operators can achieve a higher level of control and efficiency, making IoT fleet management indispensable in today's logistics landscape.

Scope of the Study

The report analyzes the IoT Fleet Management market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.

Segments

• Application (Driver Information System, Fuel Management, Routing Management, Vehicle Maintenance, Fleet Analytics, Other Applications); Fleet Type (Public Buses, Commercial Vehicle (CV), Passenger Cars (PC)); Services (Managed, Professional)

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Managed Services segment, which is expected to reach US$25.4 Billion by 2030 with a CAGR of a 19.9%. The Professional Services segment is also set to grow at 17.6% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $3.1 Billion in 2023, and China, forecasted to grow at an impressive 18.5% CAGR to reach $5.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Key Questions Answered:

• How is the Global IoT Fleet Management Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players in the Global IoT Fleet Management Market such as AT&T, Inc., Cisco Systems, Inc., IBM Corporation, Intel Corporation, Omnitracs LLC and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 11 companies featured in this Global IoT Fleet Management Market report include:

• AT&T
• Cisco Systems
• IBM
• Intel
• Omnitracs
• Sierra Wireless
• Telefonica
• TomTom International
• Trimble
• Verizon Communications

Key Attributes:

Key Topics Covered:

MARKET OVERVIEW

• World Market Trajectories
• IoT Fleet Management - Global Key Competitors Percentage Market Share in 2024 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Growing Demand for Real-time Tracking and Fleet Optimization Solutions
• Expansion of IoT-enabled Telematics in Fleet Management
• Increased Adoption of Predictive Maintenance for Vehicle Longevity
• Integration of AI and Big Data Analytics for Fleet Performance
• Rise in Demand for Fuel Management Solutions to Reduce Costs
• Growth in Usage of IoT Sensors for Real-time Asset Monitoring
• Enhanced Focus on Driver Safety and Behavior Monitoring
• Demand for Smart Routing and Navigation to Optimize Operations
• Surge in Fleet Management for Last-mile Delivery Solutions
• Increased Focus on Sustainability and Emissions Monitoring
• Expansion of Cloud-based Fleet Management Platforms
• Growth in Demand for Security Solutions in Fleet Management

FOCUS ON SELECT PLAYERS

• AT&T
• Cisco Systems
• IBM
• Intel
• Omnitracs
• Sierra Wireless
• Telefonica
• TomTom International
• Trimble
• Verizon Communications

For more information about this report visit https://www.researchandmarkets.com/r/eqsl9j

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View source version on businesswire.com: https://www.businesswire.com/news/home/20241122741694/en/