PUBLISHER: The Business Research Company | PRODUCT CODE: 1485153

PUBLISHER: The Business Research Company | PRODUCT CODE: 1485153

IoT Fleet Management Global Market Report 2024

PUBLISHED: May 21, 2024

PAGES: 175 Pages

DELIVERY TIME: 2-10 business days

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Description

Internet of Things (IoT) fleet management involves leveraging interconnected devices and sensors within a fleet of vehicles or assets to collect data, monitor operations, and optimize performance. The primary goal is to enhance efficiency, safety, and visibility by utilizing real-time data and connectivity. Fleet types may include trucks, delivery vans, buses, ships, aircraft, or other mobile assets.

Key platforms for IoT fleet management include device management, application enablement platforms (AEP), and network management. Device management involves centralized administration of connected devices within the fleet to monitor, maintain, and optimize operational efficiency. IoT fleet management services encompass professional and managed services deployed on various cloud types, including public, private, and hybrid. These services cater to fleets such as public buses, passenger cars (PCs), and commercial vehicles, supporting applications such as drive time analysis, driver information systems, fleet analytics, fuel management, remote diagnostics, routing management, tracking and monitoring, among others.

The IoT fleet management research report is one of a series of new reports from The Business Research Company that provides IoT fleet management market statistics, including the IoT fleet management industry's global market size, regional shares, competitors with a IoT fleet management market share, detailed IoT fleet management market segments, market trends and opportunities, and any further data you may need to thrive in the IoT fleet management industry. This IoT fleet management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The IoT fleet management market size has grown rapidly in recent years. It will grow from $6.89 billion in 2023 to $7.96 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth observed during the historical period can be attributed to several factors, including regulatory compliance requirements, escalating fuel costs, a growing demand for operational efficiency, and an increasing focus on safety and security.

The IoT fleet management market size is expected to see rapid growth in the next few years. It will grow to $14.32 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The anticipated growth in the forecast period can be attributed to several key factors, including integration with autonomous vehicles, the expansion of e-commerce and last-mile delivery services, adoption of predictive analytics, demand for sustainable transportation solutions, and the emergence of 5G connectivity. Major trends expected during this period include integration with advanced analytics, rapid adoption of telematics solutions, technological advancements, a heightened focus on cybersecurity, and a shift towards predictive maintenance practices.

The upsurge in fleet vehicle sales is poised to drive the expansion of the IoT fleet management market in the foreseeable future. Fleet vehicles, comprising automobiles owned or leased by companies or organizations for business purposes such as transportation and service operations, serve as crucial assets for efficient operations. The rising sales of fleet vehicles enable fleet managers to gather real-time data on vehicle health, fuel consumption, driving behavior, and maintenance requirements. This data facilitates optimized route planning, predictive maintenance scheduling, and enhanced asset utilization, thereby improving overall fleet management efficiency. For instance, data from the Society of Motor Manufacturers and Traders (SMMT) revealed a noteworthy 21.0% surge in new light commercial vehicle (LCV) registrations in Britain in 2023, totaling 341,455 vehicles, including a record uptake of battery electric vans (BEVs) with 20,253 units registered, reflecting a significant investment by businesses and fleets essential to the UK economy. Hence, the escalating sales of fleet vehicles are propelling the IoT fleet management market forward.

Leading companies in the IoT fleet management market are concentrating their efforts on developing cutting-edge solutions, such as AI-powered fleet management systems, to enhance efficiency, safety, and operational optimization for fleet owners. These advanced systems offer a range of functionalities aimed at streamlining fleet operations, enhancing efficacy, and reducing costs, making them indispensable assets for companies transitioning to electric vehicles. For example, eBikeGo, an India-based electric bike and scooter manufacturer, introduced EBG-Matics in August 2021, an AI-driven telematics solution tailored for fleet management, accompanied by an innovative IoT system integrated with mobility to elevate the intelligence and effectiveness of e-fleets within the electric vehicle domain. The platform provides modern vehicle tracking capabilities, including position tracking, speed assessment, and range prediction, through vehicle tracking modules.

In December 2023, Viasat Group, a subsidiary of Targa Telematic, an Italy-based provider of telematic systems and IoT solutions, acquired TRACKiT to expand its portfolio of solutions, ranging from fleet monitoring to embedded computing-based security. This strategic acquisition enables Viasat Group to integrate TRACKiT's diverse solutions into its offerings and collaborate on digital transformation initiatives with clients to shape the future of mobility. TRACKiT, headquartered in Portugal, specializes in GPS tracking and fleet management, offering solutions spanning fleet monitoring to security through embedded computing, thereby complementing Viasat Group's capabilities in the IoT fleet management market.

Major companies operating in the iot fleet management market are Verizon Communications Inc, AT&T Inc, Intel Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc, Oracle Corporation, Telefonica S.A, Northrop Grumman Corporation, Honeywell International Inc, Webfleet Solutions (Bridgestone Mobility Solutions B.V.), Telefonaktiebolaget LM Ericsson, Trimble Inc, Viasat Inc, Sierra Wireless Inc, Geotab Inc, TomTom International B.V., Omnitracs LLC, CalAmp Corp, KORE Wireless Group Inc, Teletrac Navman US Ltd, Inseego Corp, HydraForce Inc, Telit Communications PLC, Aeris Communications Inc, Gurtam, Fleet Complete, Vnomics Corp, Particle Industries Inc, Simon IoT LLC, Monogoto Ltd

North America was the largest region in the IoT fleet management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the iot fleet management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the iot fleet management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The IoT fleet management market consists of revenues earned by entities by providing services such as predictive maintenance, vehicle maintenance, route optimization, and compliance and regulatory reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. The IoT fleet management market also includes sales of sensors, telematics devices, GPS trackers, dashcams, mobile devices, IoT gateway devices, and electronic logging devices (ELDs). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Platform: Device Management; Application Enablement Platform (AEP); Network Management
2) By Services: Professional; Managed
3) By Cloud Type: Public; Private; Hybrid
4) By Fleet Type: Public Buses; Passenger Cars (PC); Commercial Vehicles
5) By Application: Drive Time Analysis; Driver Information System; Fleet Analytics; Fuel Management; Remote Diagnostics; Routing Management; Tracking And Monitoring
Covering: Verizon Communications Inc.; AT&T Inc.; Intel Corporation; International Business Machines Corporation (IBM); Cisco Systems Inc.

Product Code: r17380

1. Executive Summary

2. IoT Fleet Management Market Characteristics

3. IoT Fleet Management Market Trends And Strategies

4. IoT Fleet Management Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global IoT Fleet Management Market Size and Growth

5.1. Global IoT Fleet Management Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global IoT Fleet Management Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global IoT Fleet Management Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. IoT Fleet Management Market Segmentation

6.1. Global IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Device Management
Application Enablement Platform (AEP)
Network Management
6.2. Global IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Professional
Managed
6.3. Global IoT Fleet Management Market, Segmentation By Cloud Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Public
Private
Hybrid
6.4. Global IoT Fleet Management Market, Segmentation By Fleet Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Public Buses
Passenger Cars (PC)
Commercial Vehicles
6.5. Global IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Drive Time Analysis
Driver Information System
Fleet Analytics
Fuel Management
Remote Diagnostics
Routing Management
Tracking And Monitoring
Other Applications

7. IoT Fleet Management Market Regional And Country Analysis

7.1. Global IoT Fleet Management Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global IoT Fleet Management Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific IoT Fleet Management Market

8.1. Asia-Pacific IoT Fleet Management Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China IoT Fleet Management Market

9.1. China IoT Fleet Management Market Overview
9.2. China IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India IoT Fleet Management Market

10.1. India IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan IoT Fleet Management Market

11.1. Japan IoT Fleet Management Market Overview
11.2. Japan IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia IoT Fleet Management Market

12.1. Australia IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia IoT Fleet Management Market

13.1. Indonesia IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea IoT Fleet Management Market

14.1. South Korea IoT Fleet Management Market Overview
14.2. South Korea IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe IoT Fleet Management Market

15.1. Western Europe IoT Fleet Management Market Overview
15.2. Western Europe IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK IoT Fleet Management Market

16.1. UK IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany IoT Fleet Management Market

17.1. Germany IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France IoT Fleet Management Market

18.1. France IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy IoT Fleet Management Market

19.1. Italy IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain IoT Fleet Management Market

20.1. Spain IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe IoT Fleet Management Market

21.1. Eastern Europe IoT Fleet Management Market Overview
21.2. Eastern Europe IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia IoT Fleet Management Market

22.1. Russia IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America IoT Fleet Management Market

23.1. North America IoT Fleet Management Market Overview
23.2. North America IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA IoT Fleet Management Market

24.1. USA IoT Fleet Management Market Overview
24.2. USA IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada IoT Fleet Management Market

25.1. Canada IoT Fleet Management Market Overview
25.2. Canada IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America IoT Fleet Management Market

26.1. South America IoT Fleet Management Market Overview
26.2. South America IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil IoT Fleet Management Market

27.1. Brazil IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East IoT Fleet Management Market

28.1. Middle East IoT Fleet Management Market Overview
28.2. Middle East IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa IoT Fleet Management Market

29.1. Africa IoT Fleet Management Market Overview
29.2. Africa IoT Fleet Management Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa IoT Fleet Management Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa IoT Fleet Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. IoT Fleet Management Market Competitive Landscape And Company Profiles

30.1. IoT Fleet Management Market Competitive Landscape
30.2. IoT Fleet Management Market Company Profiles
- 30.2.1. Verizon Communications Inc
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. AT&T Inc
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Intel Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. International Business Machines Corporation (IBM)
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Cisco Systems Inc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. IoT Fleet Management Market Other Major And Innovative Companies

31.1. Oracle Corporation
31.2. Telefonica S.A
31.3. Northrop Grumman Corporation
31.4. Honeywell International Inc
31.5. Webfleet Solutions (Bridgestone Mobility Solutions B.V.)
31.6. Telefonaktiebolaget LM Ericsson
31.7. Trimble Inc
31.8. Viasat Inc
31.9. Sierra Wireless Inc
31.10. Geotab Inc
31.11. TomTom International B.V.
31.12. Omnitracs LLC
31.13. CalAmp Corp
31.14. KORE Wireless Group Inc
31.15. Teletrac Navman US Ltd

32. Global IoT Fleet Management Market Competitive Benchmarking

33. Global IoT Fleet Management Market Competitive Dashboard

34. Key Mergers And Acquisitions In The IoT Fleet Management Market

35. IoT Fleet Management Market Future Outlook and Potential Analysis

35.1 IoT Fleet Management Market In 2028 - Countries Offering Most New Opportunities
35.2 IoT Fleet Management Market In 2028 - Segments Offering Most New Opportunities
35.3 IoT Fleet Management Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer

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