“Routing Management holds the largest share in IoT Fleet Management market”
Routing management accounted for the largest share of the IoT fleet management market, by solutions.
The growth of this segment can be attributed to rising global road freight traffic and constant R&D
activities to develop innovative products. According to the Road Freight Transport Statistics of European
Commission (EC), the road freight transport of European countries increased by 2.2% in 2015, as
compared to 2014, and was the highest in the last five years. Also, the continuous R&D activities by fleet
solution providers to develop advanced products help the fleet companies to provide the shortest and
less crowded route to fleet vehicles to avoid unnecessary overtime cost. Download the pdf brochure.
“Managed Services estimated to grow at the highest CAGR during the forecast period”
The managed services segment is expected to dominate the IoT fleet management market, by services,
from 2016 to 2021. Managed services not only offer flexibility but also allow multiple functions handling
efficiently and, hence, reduce the overall operational cost. These also help to provide the desired
operation as per the client’s specific needs, resulting in enhanced customer satisfaction. Further, these
services allow work allocation as per the expertise and centralization of various applications with the
data center. Buy Now.
“The Americas region was expected to lead the IoT fleet management market in 2016”
The Americas region is expected to hold the largest share in the IoT fleet management market. The
growth of the IoT fleet management market in this region can be attributed to increasing sales of fleet
vehicles, high adoption rate of advanced technological products, and regulatory developments by the
government. For instance, according to the U.S. Bureau of Transportation Statistics, the number of fleet
vehicles includes vans, SUVs, and trucks had increased from 11,550 thousand units in 2010 to 12,276
thousand units in 2015. 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 make fleet management solutions a necessary tool for
commercial trucks.