PUNE, India, April 21, 2017 /PRNewswire/ —
The report “IoT Fleet Management Market by Platform (Device Management, Application Enablement Platform, and Network Management), Services (Professional, Managed), Cloud Deployment (Public, Private, Hybrid), Solutions, Fleet Type, and Region – Global Forecast to 2021”, published by MarketsandMarkets™, the market is estimated to grow from USD 3.16 Billion in 2016 to USD 8.28 Billion by 2021, at a CAGR of 21.26% during the forecast period.
Browse 78 market data Tables and 58 Figures spread through 158 Pages and in-depth TOC on “IoT Fleet Management Market”
The key factors driving the growth of the IoT Fleet Management Market are increased demand for optimized business operations, real-time fleet monitoring, and growing number of government mandates for fleet safety.
“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.