DUBLIN, June 26, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Smart Fleet Management Market by Transportation, Hardware, Connectivity, Solution, and Region - Global Forecast to 2022" report to their offering.
The smart fleet management market is projected to grow at a CAGR of 8.0% during the forecast period, to reach USD 462.48 Billion by 2022.
Rising concerns about vehicle safety, driver monitoring, and passenger or goods safety have fueled the growth of the global smart fleet management market.
Advanced Driver Assistance Systems (ADAS) is estimated to have the highest growth potential in the global smart fleet management market, by hardware. This segment is projected to grow at a promising CAGR of 6.3% from 2017 to 2022. The growth can be attributed to the proven benefits of the system in transport safety. Increasing regulations are expected to drive the growth of the ADAS market in the next few years.
The smart fleet management market, by connectivity type, is estimated to be led by short range communication during the forecast period. The short range communication technology can be used to share information regarding traffic jams, position, and best possible route and can also help to avoid collisions. The growing demand for developing systems that will help to reduce traffic fatalities, save fuel, and increase efficiency are some of the key factors contributing towards the growth of short-range communication. The market for these technologies is on the rise, and regulatory bodies in Europe and North America are planning to mandate some of these technologies. For example, in Europe, emergency call has been mandated for all the new vehicles in the near future.
The Asia-Pacific region is estimated to be the largest market for smart fleet management during the review period. This is mainly because of the presence of emerging markets such as India and China, the two most populated countries in the world. The adoption rate of smart fleet management market technologies such as ADAS and telematics is expected to increase in the Asia-Pacific region. In 2015, the Indian government reviewed the policy for the use of radar-based technologies, which would, in turn, lead to an increase in the use of ADAS system in the Indian market. The region also has some of the most stringent vehicle safety regulations in the world, which would boost the market for advanced driver assistance technologies and telematics.
The key factors restraining the growth of the smart fleet management market include the high cost of these systems and complex nature. Driver assistance systems have several electronic components, which make the system complex and increase the overall cost of the system.
The global smart fleet management market is dominated by key manufacturers such as Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH (Germany), IBM Corporation (U.S.) and Precious Shipping Company Public Limited (Thailand) among others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Smart Fleet Management Market, By Mode of Transport
7 Smart Fleet Management Market, By Hardware
8 Smart Fleet Management Market, By Product
9 Smart Fleet Management Market, By Connectivity
10 Smart Fleet Management Market, By Solutions
11 Smart Fleet Management Market, By Region
12 Competitive Landscape
13 Company Profiles
- Alstom Sa
- Bombardier Inc.
- Cisco Systems Inc.
- Continental Ag
- Denso Corporation
- Garmin Ltd.
- Globecomm Systems Inc.
- Harman International
- IBM Corporation
- Infineon Technologies Ag
- Jutha Maritime Public Company Ltd.
- Mobileye N.V.
- Nvidia Corporation
- OTTO Marine Ltd.
- Orbcomm Inc.
- Precious Shipping Public Company Ltd.
- Qualcomm Inc.
- Robert Bosch GmbH
- Siemens Ag
- Sierra Wireless Inc.
- Tech Mahindra Limited
- Tomtom N.V.
- Trimble Inc.
- Verizon Communication Inc.
For more information about this report visit https://www.researchandmarkets.com/research/bjng2z/smart_fleet
Laura Wood, Senior Manager
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SOURCE Research and Markets