Advancements in vehicular internet connectivity resulting in increasing rate of adoption for IoT fleet management across the globe. IoT fleet management provides various solutions such as fuel management, vehicle tracking and monitoring, remote diagnostics, fleet analytics, predictive maintenance, and driver performance tracking and monitoring.
The global Internet of Things (IoT) fleet management market revenue is expected to expand at a lucrative CAGR over the forecast period. Availability of strong wireless connectivity infrastructure in regions such as North America and Europe is a key factor expected to drive growth of the global Internet of Things (IoT) fleet management market over the forecast period.
The global Internet of Things (IoT) fleet management market report has been segmented on the basis of platform, service, cloud deployment, solution, application, and region. On the basis of platform, the target market is segmented into device management, application enablement, and network management. The device management platform segment is expected to dominate over the forecast period, owing to increasing preference for smart devices and sensors for monitoring and tracking of vehicles.
On the basis of service, the target market is segmented into professional and managed. The managed service segment is expected to account for highest share in the target market over the forecast period, owing to shifting individual preference towards cloud hosting from traditional hosting.
Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to increasing presence of prominent players and rising sale of commercial vehicles in the region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to technological advancements and increasing adoption of fleet management in developing countries such as India, China, and Japan in the region.
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