Smart Fleet Management Market Report 2025

The smart fleet management market size has grown strongly in recent years. It will grow from $445.01 billion in 2024 to $478.21 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to fuel efficiency concerns, safety and driver monitoring, globalization of supply chains, government regulations, focus on environmental sustainability, fleet size and complexity.

The smart fleet management market size is expected to see rapid growth in the next few years. It will grow to $713.91 billion in 2029 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to urbanization and smart cities, demand for real-time visibility, cybersecurity measures, insurance premium reduction, remote diagnostics. Major trends in the forecast period include adoption of telematics and IoT, implementation of predictive analytics, integration with advanced driver assistance systems, integration with cloud-based platforms, eco-friendly and sustainable practices.

The rising sales and production of passenger cars are expected to drive the growth of the smart fleet management market in the coming years. An automobile is a self-propelled motor vehicle designed for transporting passengers on land. Smart fleet management enhances safety for passenger cars on the road. For example, in November 2023, Statistics Canada, a government agency, reported a slight increase in the total number of registered road motor vehicles in 2022, reaching 26.3 million - a 0.3% rise compared to the previous year, translating to an additional 78,655 units on the roads. Thus, the increasing sales and production of passenger cars are fueling the growth of the smart fleet management market.

The smart fleet management market is poised for growth due to the rising issue of traffic congestion. Traffic congestion occurs when the demand for road usage exceeds capacity, leading to slowed traffic speeds and increased queues. Smart fleet management systems play a crucial role in optimizing vehicle routes and traffic flow, addressing congestion, and improving overall transportation efficiency. A 2022 report by US-based software company INRIX revealed a significant increase in time lost to traffic congestion for the average US driver, reaching 51 hours in the year. This marked rise from the 31 hours lost in 2021 highlights the impact of increasing traffic congestion on the smart fleet management market.

Major companies in the smart fleet management market are concentrating on innovations such as two-way communication, which facilitates real-time diagnostics and machine status updates. This two-way communication allows for the exchange of information where both parties can send and receive messages, promoting feedback and dialogue. For example, in February 2024, JLG Industries, Inc., a US-based machinery manufacturing company, launched ClearSky Smart Fleet, moving from traditional one-way telematics to a comprehensive two-way Internet of Things (IoT) solution. This new fleet management platform provides two-way machine interactivity and advanced IoT features, improving efficiency through digitized processes, accurate equipment tracking, and enhanced service capabilities. The system also streamlines logistics via automated networks, offering real-time, actionable insights for improved operational performance.

Major companies in the smart fleet management market are focusing on innovations such as an integrated data platform (IDP) to enhance driver retention, mitigate risks, and boost productivity. An IDP is a cohesive system designed to collect, store, manage, and analyze data from various sources in a unified manner. For example, in September 2022, Solera Holdings, LLC, a US-based data and software services company, launched Solera Fleet Solutions to tackle significant challenges faced by fleet operators. This new global fleet management solution is available across Europe, the Middle East, and Africa and aims to assist fleet managers in addressing current issues such as driver shortages and rising costs. The system consolidates fragmented data into a single platform, delivering actionable insights that enhance efficiency, safety, and productivity. It includes features for driver safety, behavior coaching, and last-mile routing optimization, providing a comprehensive solution aimed at improving fleet operations and addressing key industry pressures.

In August 2022, Semtech Corporation, a US-based semiconductor company, acquired Sierra Wireless for USD 1.2 billion. This strategic acquisition combines LoRa and cellular technologies, essential components of the Internet of Things (IoT), to create a robust chip-to-Cloud platform for digitizing the industrial sector. Sierra Wireless, a Canada-based multinational wireless communication equipment designer, contributes to fleet management and asset tracking solutions. The acquisition reflects the industry's commitment to integrating IoT technologies and fostering advancements in smart fleet management systems.

Major companies operating in the smart fleet management market are Continental AG, Denso Corporation, Robert Bosch GmbH, Cisco Systems Inc., Globecomm Systems Inc., International Business Machines Corporation, Samsung Electronics Co. Ltd., Tech Mahindra Limited, Siemens Aktiengesellschaft, CalAmp Corp., General Motors Company, Infineon Technologies AG, WorkWave LLC, Trimble Inc., Verizon Connect, Geotab Inc., Teletrac Navman US Ltd., Samsara Networks Inc., Omnitracs LLC, Fleet Complete Holdings Ltd., Spireon Inc., Gurtam JLLC, MiX Telematics Limited, Inseego Corp., ORBCOMM Inc., Zonar Systems Inc., GPS Insight LLC, KeepTruckin Inc.

Asia-Pacific was the largest region in the smart fleet management market share in 2024. The regions covered in the smart fleet management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart fleet management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Smart fleet management refers to a solution designed to manage vehicles more effectively through an advanced platform. It focuses on improving driver behavior under secure control while also reducing costs. This system enhances efficiency, boosts safety, and facilitates informed decision-making in logistics and transportation.

The primary solutions within smart fleet management encompass vehicle tracking and fleet optimization. Short-range communication denotes wireless technology utilized within smaller coverage areas. Connectivity aspects include short-range and long-range communication, alongside cloud-based systems, extensively applied in transportation sectors such as automotive, rolling stock, and marine. These technologies serve various purposes, including tracking, advanced driver assistance systems (ADAS), optimization, and more, serving industries like transportation and logistics, automotive, government, and oil and gas.

The smart fleet management market research report is one of a series of new reports that provides smart fleet management market statistics, including smart fleet management industry global market size, regional shares, competitors with a smart fleet management market share, detailed smart fleet management market segments, market trends and opportunities, and any further data you may need to thrive in the smart fleet management industry. This smart fleet management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The smart fleet management market includes revenues earned by entities by vehicle leasing, acquisition and remarketing, supply chain management, fuel management, maintenance services, safety programs, collision response, tolls, and compliance services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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