According to the report titled ‘Global Smart Fleet Management Market 2021-2028,’ available with Market Study Report, global smart fleet management market is anticipated to exhibit a CAGR of 7.36% during 2021-2028.
 

Increasing demand for streamlining fleet operations, drop in hardware costs, and development in network infrastructure are propelling the growth of global smart fleet management market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4069461/
 

Additionally, initiatives taken for vehicle safety, stringent emission rules, along with emergence of connected technologies, and adoption of real-time fleet monitoring systems in vehicles are further stimulating the industry expansion.
 

On the contrary, high cost and security concern related to smart fleet management is slowing the progress of the market.
 

By connectivity, the market is split into short range, long range, and cloud, whereas bifurcation on the basis of transport type includes roadways, airways, marine, and railways. Moving on to application spectrum, the market sphere is fragmented into ADAS, tracking, optimization, fuel cards, and automatic vehicle identification.
 

Speaking of geographical ambit, regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are considered to understand the dynamics of global smart fleet management market. The report cites that Asia Pacific captured a significant market share in 2020, owing to population boom, rapid urbanization, demand for solutions for management of large fleets, and developments in rail network.
 

Furthermore, strict government regulations for vehicle tracking & maintenance, coupled with surging demand for smart transportation, awareness about vehicle & driver safety, and large-scale international trade are also adding traction to the market.
 

Prominent companies like Sierra Wireless, Inc., Orbcomm, Inc., Siemens AG, Continental AG, Cisco Systems, Inc., Denso Corporation, Omnitracs LLC, Zonar Systems, Inc., Robert Bosch GmbH, Tech Mahindra Ltd., International Business Machines Corporation, and PowerFleet, Inc. are influencing the global smart fleet management market dynamics.