New data from Zion Market Research shows that the worldwide global IoT fleet management market has a highly competitive business landscape because of a large number of participants (ZMR). These include Verizon Communications Inc., Intel Corporation; AT&T Inc.; and Cisco Systems Incorporation, among others. These companies are putting a lot of effort into both new product development and incorporating cutting-edge technology into their current offerings. According to the IoT fleet management market analysis, they are also predicted to focus on collaborations and mergers and acquisitions in the coming years.
Using SensLynx as an example, they’ve designed a new GPS Management Accelerator Program for resellers, which is a wireless GPS fleet tracking and asset management system solution. For the first time, in July of this year, Ooredoo has unveiled a new set of innovative IoT fleet management services that are expected to assist companies to achieve new levels of competitiveness through their vehicle fleets, drivers, and routes. According to reports, Ooredoo’s IoT connects platform aids in effectively transmitting data on its secure network for the purpose of corporate decision-making via Ooredoo’s fleet management system.
In 2016, the global IoT fleet management market was worth $3,250 million, according to this study.. IoT fleet management revenue is estimated to reach US$15,500 million by the conclusion of this forecast period, following a significant increase in revenue from 2017 to 2024. Network management, device management, and application enablement platforms are the three main types accessible in this IoT fleet management industry. According to the study, device management is currently in high demand and is expected to remain so for the foreseeable future.
The global market for IoT fleet management services
With a high level of acceptance of IoT in the Fleet sector, the market will grow rapidly.
There has been an increase in fleet internet connectivity, according to the report’s author, and this trend is expected to fuel IoT Fleet Management growth in the years to come. IoT technology in fleet management has also improved operational efficiency and reduced time and cost efficiency for fleet operators. In addition, the IoT fleet management industry is expected to benefit in the future from new revenue streams created by regulations requiring tight security measures for fleets and the integration of smart equipment into vehicles.
North America’s Regional Domination Depends on a Strong Network Infrastructure.
It is predicted that North America will maintain its lead in the IoT fleet management market for the foreseeable future, according to a recent report. The North American IoT fleet management market’s supremacy is due in large part to strong network infrastructure, rigorous legislation, and rapid acceptance of technologically advanced technologies. Another key element boosting the North American IoT fleet management market is the presence of a large number of industry participants based in the region.