Global Fleet Telematics Market: Industry Analysis
Global Fleet Telematics Market size is expected to reach US$ XX Mn. by 2026 from US$ XX Mn. in 2019, at a CAGR of XX% during the forecast period. The report covers the detailed analysis of the global fleet telematics industry with the classifications of the market on the basis of component, vehicle type, system, and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players contribution in it.
A Fleet Telematics System (FTS) allows the information exchange between a commercial vehicle fleet and their central authority. Fleet telematics gathers a range of data using Global Positioning System (GPS) technology, sensors, and vehicle engine data to provide fleet operators with the information they need to manage their fleet.
The report has profiled major key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in North America region. Major country’s policies about manufacturing and its impact on market demand are covered in the report.
Market Overview of Global Fleet Telematics
To gain an advantage in the transportation industry, today’s transportation, and logistics companies increasingly rely on modern technologies and in-vehicle tools to optimize their vehicle fleet operations. These technologies are sometimes combined with specialized intervention that provides drivers feedback, training, and/or incentive programs that can improve vehicle’s fleet management and reinforce safe and fuel-efficient driving behavior. The approach for improvement combines in-vehicle technology with integrated Web-based applications that continuously monitor and rate driving behavior and provide real-time feedback to drivers.
The global fleet telematics market is expected to grow at a CAGR of XX% during the forecast period due to safety and fuel-efficient driving. Increased focus on driver safety, reduced cost of connectivity, higher rate of smartphone penetration, and stringent automotive safety regulations are key reasons fuelling the market growth of telematics. Fleet telematics is poised for exponential growth as new applications are developed to take advantage of modern GPS units and the widespread use of mobile devices. More fleets are recognizing the need to monitor fleet activity to control costs, boost productivity, improve accountability, and maintain full compliance with government regulations. However, high installation cost, the threat of data hacking, and lack of uninterrupted & seamless connectivity can restrain the growth of the fleet telematics market.
Global Fleet Telematics Market by system
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Wireless system segment is expected to hold the largest market share of XX% of the global fleet telematics market by 2026. Wireless fleet telematics are widely used as it offers wide area coverage, quick access & response, and cost reduction facilities and helps vendors to increase efficiency and productivity.
The active component segment held the largest market share of XX% in 2019 and is expected to grow at CAGR of XX% during the forecast period. Active tracking systems make use of cellular networks or satellite systems to send the data to your computer. In this vendors don’t have to wait until the vehicle is within premises and manually remove the tracking device to access the data. Instead, all the data is sent over wireless networks. An active tracking system is also ideal for those businesses that want to set up a geofence. Active fleet telematics is widely used by public transport businesses as it provides real-time location data and vehicle information.
Global Fleet Telematics Market Regional Insights
North America is expected to witness the highest growth at a CAGR of XX% during the forecast period. In 2019 US alone held more than 60% share of the North America fleet telematics market due to increased demand. In the Asia Pacific region market is expected to grow at a rapid pace due to increasing FDI in automotive industries in the countries like India and South Korea.
The objective of the report is to present a comprehensive analysis of the Global Fleet Telematics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Fleet Telematics Market dynamics, structure by analyzing the market segments and project Global Fleet Telematics Market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the Global Fleet Telematics Market make the report investor’s guide.
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Global Fleet Telematics Market table
Global Fleet Telematics Market, by Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Key Players in Global Fleet Telematics Market:
• Actsoft
• Ctrack an Inseego company
• Daimler Fleetboard GmbH
• Deere & Company
• Fleetmatics Group PLC
• HARMAN International
• KORE Wireless
• Masternaut Limited
• MiX Telematics
• Sprint Corporation
• TomTom International BV
• Trimble Inc.
• Verizon
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