COVID-19 Impact on Smart Fleet Management Market Size, Business Revenue, Future Scope, Market Trends, Key Players And Forecast To 2023

Smart Fleet Management Market Overview

Smart fleet management is more than just tracking the locations of the various vehicles in a fleet. In an age of advanced telematics and automated sensors, the Smart Fleet Management Market Size is evolving into a new beast altogether. The high-end smart fleet management solutions in the market at present go so far as offering a connection with the onboard driver assistance module of the vehicle, which allows the parent company to track the specific driving habits of the drive.

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Competitive Analysis

The global Smart Fleet Management Market Size is dominated by companies such as Globecomm Systems Inc., Precious Shipping Co. Ltd., OTTO Marine Ltd., CalAmp Corp., Sierra Wireless Inc., Cisco Systems Inc., Continental AG, IBM Corporation, Denso Corporation, Siemens AG, Robert Bosch GmbH, and Harman International Industries Inc.

In April 2019, CalAmp acquired Synovia Solutions, a leading provider of fleet tracking solutions and a longtime collaborator with CalAmp.

Segmentation

The global Smart Fleet Management Market Size is segmented on the basis of transportation type, hardware, solution, and region.

By transportation type, the global Smart Fleet Management Market Size is segmented into automotive, rolling stock, and marine.

By hardware, the global Smart Fleet Management Market Size is segmented into tracking, optimization, ADAS, and diagnostic.

By solution, the global Smart Fleet Management Market Size is segmented into tracking and optimization.

Regional Analysis

Asia Pacific is likely to retain a major share in the global COVID-19 Impact over the forecast period. The growing urbanization and industrialization in Asia Pacific has driven the demand for smart, efficient tracking mechanisms for shipping companies. The steady improvement in transportation facilities and infrastructure in countries such as China, India, Indonesia, Malaysia, and Singapore is likely to be a major driver for the global Smart Fleet Management Market Size over the forecast period.

Growing government support for solutions that make transportation safer and more reliable across the board is likely to be a major driver for the smart fleet management solutions market in Asia Pacific. Driver safety has become a major topic in transportation applications over the last few years, with several governments issuing supportive regulations that could enable strong progress of the Smart Fleet Management Market Size over the forecast period.

North America and Europe are also likely to hold on to major shares in the global Smart Fleet Management Market Size over the forecast period due to the early mover advantage, which has seen widespread installation of advanced smart fleet management solutions in these regions.

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