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IoT Fleet Management Market Trends

  • Report ID: GMI9530
  • Published Date: May 2024
  • Report Format: PDF

IoT Fleet Management Market Trends

The growing need for real-time vehicle and driver monitoring encouraging market players to launch new solutions in the market. For instance, in September 2023, Viso.ai launched pothole detection feature which can be used in vehicles to get real time road conditionssing. Pothole detection computer vision applications find many applications in transportation, handling assets, smart cities, road maintenance, and road management systems. With the advent of automatic pothole detecting devices, potholes may now be found more quickly, allowing for prompt repairs and lower road maintenance costs.

The demand for cloud-based solutions is expected to grow, as organizations are discovering the advantages of cloud platforms in terms of scalability, flexibility, and cost-effectiveness. With the improved accessibility offered by cloud-based solutions, customers can monitor and optimize fleet operations from a distance. They also make it easier to integrate with other company systems, which promotes cooperation and data exchange. Cloud-based solutions facilitate sustained market expansion by enabling enterprises to fulfill regulatory compliance criteria and manage complex fleets efficiently by securely storing and processing massive volumes of fleet data.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of IoT fleet management reached USD 8.5 billion in 2023 and will witness 11% CAGR between 2024 and 2032, led by increasing demand for vehicle and operation monitoring.

The solution component segment accounted for 65% share in 2023, owing to its flexibility and scalability.

North America market held over 35% revenue share in 2023, due to regulatory compliance requirements related to driver management.

AT&T, Fleet Complete, Geotab, IBM, Intel, Omnitracs (Solera), Samsara, Teletrac Navman, Trimble, and Verizon Connect among others.

IoT Fleet Management Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 360
  • Countries covered: 24
  • Pages: 240
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