PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1372081
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1372081
According to SPER Market Research, 'Smart Fleet Management Market Size- By Transportation, By Application, By Connectivity, By Operation- Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Smart Fleet Management Market is predicted to reach USD 808.39 billion by 2033 with a CAGR of 10.1%.
Fleet management can monitor their vehicles in real time to evaluate whether or not drivers are following the recommended route. To collect critical data, fleet management employs cloud-based solutions like as AI, IoT, and big data. Techwave Consulting Inc., for example, employs sensors that might be installed in autos to track valuable products while maintaining a real-time link to the cloud and exchanging data. Furthermore, smart fleet management requires asset management, two-way communication, driver safety, time management, rescheduling delivery assignments, and other operations.
The COVID-19 epidemic is causing market uncertainty by interrupting supply chains, stifling business growth, and generating panic in specific client industries. Major expenditures in cutting-edge technology are uncommon, and fleet managers are expected to focus on working capital management. Smart fleet management technology, on the other hand, is expected to see an increase in sales due to its operational viability in achieving safety measures as well as operational cost-effectiveness.