iot fleet management market statistics, iot fleet management industry analysis, iot fleet management market report, iot fleet management market growth, iot fleet management market trends, iot fleet management market overview
What is the current market size and future outlook for the iot fleet management market?
The IoT fleet management market size has grown rapidly in recent years. It will grow from $7.96 billion in 2024 to $9.24 billion in 2025 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to regulatory compliance requirements, rising fuel costs, demand for operational efficiency, and 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 $16.55 billion in 2029 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to integration with autonomous vehicles, expansion of e-commerce and last-mile delivery, adoption of predictive analytics, demand for sustainable transportation, and emergence of 5G connectivity. Major trends in the forecast period include integration with advanced analytics, rapid adoption of telematics solutions, technological advancement, focus on cybersecurity, and shift towards predictive maintenance.
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What are the key drivers behind the rapid expansion of the iot fleet management market?
Rising fleet vehicle sales are expected to propel the growth of the IoT fleet management market going forward. Fleet vehicles are a collection of automobiles owned or leased by a company or organization for business purposes, such as transportation, delivery, or service operations. Rising fleet vehicle sales are driven by increased demand for commercial transportation, economic growth, and businesses seeking to expand or modernize their vehicle fleets. Rising fleet vehicle sales bolster fleet management by allowing fleet managers to collect real-time data on vehicle health, fuel usage, road behavior, and maintenance needs. For instance, in January 2024, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association for the motor industry, in 2023, Britain witnessed a remarkable 21.0% increase in new light commercial vehicle (LCV) registrations, reflecting a significant investment by businesses and fleets in 341,455 vehicles crucial to the UK economy. This surge in registrations also marked a record uptake of battery electric vans (BEVs), with 20,253 units registered, mirroring the overall 21.0% rise. Therefore, rising fleet vehicle sales are driving the IoT fleet management market.
What is the segmentation for the iot fleet management market?
The IoT fleet management market covered in this report is segmented –
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, Other Applications
Subsegments:
1) By Device Management: Device Configuration and Provisioning, Device Monitoring and Diagnostics, Firmware and Software Management
2) By Application Enablement Platform (Aep): Data Analytics and Reporting, IoT Application Development, Real-Time Monitoring and Alerts
3) By Network Management: Network Security and Access Control, Data Transmission and Communication, Network Optimization and Performance Monitoring
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Who are the most influential companies 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
What are the most influential trends expected to drive the iot fleet management market forward?
Major companies operating in the IoT Fleet Management market are focused on developing innovative solutions, such as new fleet management solutions, to enhance operational efficiency and improve real-time tracking. Fleet management solutions are systems or software designed to monitor, control, and optimize the operations of a fleet of vehicles. It leverages Internet of Things (IoT) technology to provide real-time data on vehicle location, status, and performance. For instance, in March 2024, Trga Telematics, a Italy-based software company, launched new fleet management solutions called ViaSat Fleet Start and Advanced. These solutions are designed for passenger cars and light commercial vehicles, integrating seamlessly with Targa’s existing IoT platform. These solutions utilize real-time data to enhance fleet management capabilities, helping businesses reduce costs, improve operational processes, and provide protection against vehicle theft through features such as stolen vehicle tracking.
What are the major regional insights for the iot fleet management market, and which region holds the top position?
North America was the largest region in the IoT fleet management market in 2024. 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.
What Does The IoT Fleet Management Market Report 2025 Offer?
The iot fleet management market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Internet of things (IoT) fleet management refers to the use of interconnected devices and sensors within a fleet of vehicles or assets to gather data, monitor operations, and optimize performance. The purpose of Internet of Things (IoT) fleet management is to enhance the efficiency, safety, and visibility of fleet operations by leveraging real-time data and connectivity. These fleets could include trucks, delivery vans, buses, ships, aircraft, or any other type of mobile asset.
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