Worldwide Industry for Fleet Tracking to 2026 - Key Business Drivers
DUBLIN, Feb. 1, 2021 /PRNewswire/ -- The "Fleet Tracking Market by Mode (Air, Roadway, Railway, and Water) Fleet Type (Services, Transport, Taxi, Special Purpose), Vehicle Type (Car, Container, Rail, Plane, Ship, Truck, Van), and Industry Verticals 2021 - 2026" report has been added to ResearchAndMarkets.com's offering.
This fleet tracking market report evaluates fleet tracking technologies, solutions, and ecosystems including major players. The report assesses the impacts of various use cases and specific considerations in terms of asset technology and solution selection.
Fleet tracking refers to the processes that fleet managers use to manage their fleet and asset information. This tracking enables companies to reduce overhead, improve overall efficiency, and ensure that standards are met across an entire fleet operation. Fleet tracking allows for smaller operations to expand more easily, providing greater visibility into a company's many moving parts.
A subset of the overall asset tracking market, the fleet tracking market represents those solutions that leverage various technologies (GPS, M2M/IoT, embedded and adjunct devices, on-board and remote computing, etc.) to provide solutions for tracking land-based commercial wheeled or tracked motor vehicles including trucks, trailers, vans, cars, special-purpose vehicles, and other fleet assets. Land-based fleet tracking also includes private cars, trucks, and vans used for business purposes. The fleet tracking market also includes air-based (drones, fixed-wing aircraft, and helicopters) and water-based craft (tankers, container vessels, ferries, etc.).
Regarding operational efficiency, the fleet tracking market is rapidly evolving to provide solutions to improve the ability for fleets to effectively fulfill their mission in the most cost-effective and safe manner possible, while maintaining client satisfaction and corporate goodwill. This includes everything from seamless payload/personnel transfer to proper accounting for care-of-custody, billing, and overall service fulfillment.
The broader scope of the fleet tracking market includes aviation machinery (including drones, planes, helicopters, and ground support equipment), railway equipment (locomotive, railcar, and support machinery), and shipping (government/military fleets, tankers, containers, etc.). Roadway and other land-based vehicles often operate in substantially different environmental conditions between industries and businesses. They also have different needs, constraints, and use cases than those of watercraft and aerial vehicles.
While the fleet tracking market has made great strides towards automation and ease of use for the fleet owner, commercial fleets remain largely unconnected today. To minimize the impact of interconnecting a fleet, leading fleet management companies such as Momentum IoT are reducing end-user friction through user-friendly, self-service fulfillment that is transaction-based and highly intuitive. This is moving the fleet tracking market from a higher cost and complex marketplace to one that is lower cost and simpler to manage.
Certain leading companies such as Spireon are looking beyond simply fleet tracking for compliance reasons, logistics, and asset monitoring. Data analytics is an important part of value-added fleet tracking solutions. By way of example, data associated with vehicle detention (such as fleet delays at the location point of delivery), may be analyzed with data analytics programs to determine potential operational changes ranging from procedures, policies, assets, and personnel modifications.
Other leading companies are leveraging various IoT solutions such as Roambee, which utilizes automated smart sensors and analysis via cloud data analytics to track shipments and inventory on a dynamic basis including real-time location and condition reports. These types of solutions provide a direct benefit to enterprise and industrial customers as well as many indirect benefits across the entire supply chain including producers, distributors, wholesalers, retailers, and ultimately consumers.
In terms of self-driving vehicles, we see autonomous solutions fulfilling the role of what some fleets do today. This will occur initially in the area of shipping/logistics, beginning with short distance and regionally focused operations including food delivery, transportation, self-service errands, and product delivery. By way of example, Kroger delivers groceries with an autonomous vehicle solution. We see car and drone-based food delivery as the tip of the iceberg as the unmanned vehicle ecosystem evolves with goods transport as a high ROI solution for the autonomous systems market.
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1.0 Executive Summary
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