IoT Fleet Management Market : Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

IoT Fleet Management Market Statistics 2028
The global IoT Fleet Management market is projected to reach US$ 32430 million by 2028 from an estimated US$ 10330 million in 2022, at a CAGR of 21.0% during 2023 and 2028.Fleet management is a function that allows companies relying on transportation in business to minimize or reduce risks related to vehicle investment, supply chain management, government legislation, etc. Key drivers of the market growth include the increasing integration of vehicles with electronic devices and the rising acceptance of transport companies of smart equipment for fleet management.

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The IoT Fleet Management Market will progress rapidly as IoT is transforming fleet management with the ability to connect vehicles and capture a wide range of data about vehicle performance, route, passengers, and cargo. Increasing demand and huge benefits offered by IoT technology with respect to cost, efficiency, manageability, visibility, and asset security are also fuelling the growth of the market.

Global IoT Fleet Management Market Share Analysis
Based on region, North America is expected to hold the largest IoT Fleet Management Market share with a share of about 35% during the forecast period due to the rising adoption of advanced technological products, increasing sales of IoT-based fleet vehicles, and rising regulatory developments of the government.
Based on type, commercial vehicles are expected to be the most lucrative segment in the IoT Fleet Management Market during the forecast period due to increased usage of IoT-based solutions in commercial vehicles for helpful tracking and monitoring of vehicle location, the status of cargo, and driver behavior and performance.
Based on application, the routing segment is expected to hold the largest IoT Fleet Management Market share during the forecast period due to increasing investments in R&D activities for developing innovative products, rising global road freight traffic, and continuous innovation of fleet companies to provide the shortest and less crowded route to reduce overtime costs.
Global IoT Fleet Management's main players are Trimble, Omnitracs, Fleetmatics (Verizon), AT&T, etc. Top four companies hold a share above 45%.

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Major Players in the IoT Fleet Management Market
• Trimble
• Omnitracs
• Fleetmatics (Verizon)
• AT&T
• IBM
• Teletrac Navman
• TomTom
• Oracle
• Intel
• Cisco Systems
• Sierra Wireless

IoT Fleet Management Market Segmentation
IoT Fleet Management Market by Type
• Passenger Vehicles
• Commercial Vehicles

IoT Fleet Management Market by Application
• Routing Management
• Tracking and Monitoring
• Fuel Management
• Remote Diagnostics
• Others

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