PUBLISHER: The Business Research Company | PRODUCT CODE: 1605592
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605592
A fleet management camera is a specialized camera system designed to monitor and record fleet operations, enhancing safety and productivity by providing live footage of drivers, vehicle status, and incidents. These cameras contribute to safety through real-time monitoring, promote improved driver behavior, facilitate accurate incident documentation, ensure regulatory compliance, and optimize fleet efficiency by delivering valuable data insights.
The main components of fleet management cameras consist of hardware, software, and services. The hardware includes physical devices that capture video footage of driving conditions, driver behavior, and the surrounding environment, which can be utilized for monitoring safety and managing fleet performance. Deployment types include on-premises and cloud solutions, serving various applications across industries such as food and beverage, grocery, agriculture, construction, transportation, logistics, pharmaceuticals, mining, automotive, and others.
The fleet management camera market research report is one of a series of new reports from the business research company that provides fleet management camera market statistics, including fleet management camera industry global market size, regional shares, competitors with an fleet management camera market share, detailed fleet management camera market segments, market trends and opportunities, and any further data you may need to thrive in the fleet management camera industry. This fleet management camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fleet management camera market size has grown rapidly in recent years. It will grow from $1.82 billion in 2023 to $2 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth observed during the historic period can be attributed to the rising demands of e-commerce and logistics, increasing regulatory requirements for safety and compliance, the need for improved monitoring of driver behavior, growing concerns regarding fleet safety and security, and a shift towards real-time data analytics.
The fleet management camera market size is expected to see rapid growth in the next few years. It will grow to $2.96 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth during the forecast period can be attributed to the increasing integration of artificial intelligence for predictive analytics, the growing adoption of electric vehicles that require advanced monitoring, rising consumer expectations for transparency and accountability in logistics, the expansion of mobility-as-a-service models, and an increasing emphasis on sustainability and eco-friendly practices within the transportation industry. Key trends expected in this period include a shift towards real-time data analytics for proactive decision-making, the emergence of advanced driver-assistance systems (ADAS) alongside camera solutions, a demand for enhanced cybersecurity measures to protect sensitive data, the expansion of regulatory requirements for safety and compliance driving the adoption of advanced camera systems, and a trend toward more personalized customer experiences in fleet services.
The increasing demand for mobility-as-a-service (MaaS) is anticipated to drive the growth of the fleet management camera market in the future. Mobility-as-a-service refers to a digital platform that consolidates various transportation services into a single system, enabling users to plan, book, and pay for different modes of travel through one interface. The rising interest in MaaS is influenced by urbanization, the need for more efficient transportation solutions, and a desire to reduce traffic congestion and emissions. Fleet management cameras contribute to mobility-as-a-service by enhancing driver safety, monitoring vehicle performance, and providing real-time data to optimize route management. For example, in April 2023, the Department for Transport, a UK government department, reported that the number of private hire taxi vehicles increased to 89,600, an 11% rise compared to March 2022. Thus, the growing demand for mobility-as-a-service will support the expansion of the fleet management camera market.
Leading companies in the fleet management camera sector are concentrating on technological advancements in AI and digital services, including AI-driven dash cams, to boost driver safety, monitor behavior in real time, and enhance overall fleet efficiency. AI-powered dash cams are sophisticated cameras equipped with artificial intelligence that assesses driving behavior, detects potential risks, and delivers automated safety alerts to improve driver performance and fleet safety. For instance, in August 2023, Teletrac Navman, a U.S.-based fleet management software developer, launched the IQ Camera, an AI-powered dual-camera dash cam that integrates with its TN360 fleet management software. This device enhances driver safety and operational efficiency by providing real-time monitoring, advanced driver assistance systems (ADAS), and driver status monitoring (DSM) for immediate feedback. The camera automatically uploads video data for quick analysis, allowing fleet owners to compile driver performance data and pinpoint areas for improvement. Overall, the IQ Camera is designed to optimize fleet performance through cutting-edge telematics and AI technology.
In January 2024, Nationwide Fleet Installations, a fleet management solutions provider based in the UK, acquired Avian Fleet for an undisclosed sum. This acquisition aims to enhance Nationwide Fleet Installations' fleet management offerings by incorporating advanced camera technologies and telematics. Avian Fleet specializes in providing camera solutions for telematics, vehicle tracking, and driver safety.
Major companies operating in the fleet management camera market are Garmin Ltd., Trimble Inc., Verizon Connect Inc., Samsara Inc., Geotab Inc., Raven Industries Inc., CalAmp Corp., Webfleet Solutions B.V., Azuga Inc., Zonar Systems Inc., Teletrac Navman US Ltd., Fleet Complete Inc., MiX Telematics Limited, Lytx Inc., EROAD Inc., FleetOptix LLC, NexTraq Inc., VisionTrack Ltd., ZendulIT Ltd., CameraMatics Ltd., The Vestige Group Inc., Zubie Inc.
North America was the largest region in the fleet management camera market in 2023. The regions covered in the fleet management camera marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fleet management camera marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fleet management camera market consists of revenues earned by entities by providing services such as installation services, cloud storage solutions, live monitoring services, maintenance and support services, and training services. The market value includes the value of related goods sold by the service provider or included within the service offering. The fleet management camera market also includes sales of dash cameras, telematics cameras, rearview cameras, and night vision cameras. 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.
Fleet Management Camera Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fleet management camera market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fleet management camera ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fleet management camera market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.