IoT fleet management market grow to USD 8.28 Billion by 2021

IoT Fleet Management : An Outlook to the Future Global Opportunities

The IoT fleet management market is estimated to grow from USD 3.16 Billion in 2016 to USD 8.28 Billion by 2021, at a CAGR of 21.26% during the forecast period.

Drivers-
1 Need for Optimum Operational Efficiencies
2 Rising Trends Towards Smartphone Integration With Vehicles
3 Implementation of Eld Mandate and Other Anticipated Government Regulations

Commercial vehicles are estimated to be the largest segment in the IoT fleet management market, in terms of installed fleet solutions. The growth of this segment can be attributed to increasing trend of smartphone integration with vehicles, driver behavior monitoring, fuel efficiency, and fleet analytics.

A market, By Platform-
1.Device management
2.Application Enablement Platform (AEP)
3.Network management

Major Players in the IoT fleet management market-
AT&T, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Verizon Communications, Inc. (U.S.), TomTom International BV (Netherlands), Trimble, Inc. (U.S.), IBM Corporation (U.S.), Omnitracs (U.S.), Sierra Wireless (Canada), Intel Corporation (U.S.), and Telefonica S.A. (Spain).

Opportunities-
1 Truck Platooning
2 Cloud and Fog Computing Analytics
3 New Prospects for Data-Driven Services and Telecommunication Service Providers

The increasing number of fleet vehicles propels the demand for IoT fleet management solutions. Also, some of the Original Equipment Manufacturers (OEM) in this region such as Volvo Trucks and Daimler Trucks North America, LLC started offering telematics solutions either independently or in partnership with fleet solution providers. Further, in 2015, Daimler Trucks had successfully completed the testing of truck platooning concept. Also, the U.S. government regulations of Electronic Logging Devices (ELD) mandate makes fleet management solutions a necessary tool for commercial trucks