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+20% CAGR Growth to be archived by IoT Fleet Management Market by 2023 According to new Research

Know about the development of Global IoT Fleet Management Market, the current trends in the market, market size occupied by key players, and overall industry

PUNE, INDIA, April 12, 2018 /EINPresswire.com/ -- The IoT Fleet Management market is expected to grow at an average annual rate of + 20% over the forecast period Operational efficiency, real-time vehicle monitoring, process automation, increased demand for predictive maintenance, and fleet analytics are some of the key drivers for this market.
The hybrid cloud deployment model is expected to be the fastest growing market during the forecast period. This is because accessibility, flexibility and data implementation options are available at a low cost. Hybrid models use cloud burst and disaster recovery architectures to reduce cloud risk. In addition, the concept of "fog computing" is in its infancy and has a positive impact on future markets. With cost-effective on-time delivery capabilities, vehicle companies moving to hybrid models will accelerate the growth of the hybrid deployment model market.
Routing management was the largest share of the IoT Fleet management market by solution. Growth in this sector is driven by continued global R & D activities for increased cargo traffic and innovative product development.

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Managed Services is expected to dominate the IoT Fleet management market through services from 2016 to 2021. Managed services not only provide flexibility, but can also efficiently handle multiple functions, thus reducing overall operating costs. You can also increase the customer satisfaction by providing the desired work according to your specific needs. These services also allow you to assign tasks based on your expertise and centrally manage a variety of applications in the data center. Increasing the role of IoT in IoT integration and fleet management leads to increased use of these services. When a company becomes more difficult to focus on other support functions beyond its core business processes, the importance of managed services also increases.

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Americas is expected to account for the largest portion of the IoT Fleet management market. Growth in the IoT Fleet management market in the region may be due to increased vehicle sales, increased adoption of advanced technology products, and government regulatory developments. For example, according to the United States Transportation Statistics Bureau, the number of vehicles containing vans, SUVs, and trucks increased during last few years, IoT Fleet management solution due to the increase in the number of vehicles. In addition, some of the original equipment manufacturers (OEM) in the region, such as Volvo Trucks and Daimler Trucks North America, LLC, have begun to offer telematics solutions either independently or in partnership with fleet solution providers.

The report presents a thorough analytical overview of the past and present state of the market and, with the help of present data, trends, competition, and regulatory framework gives a forward-looking perspective of the way the market will develop over the course of the next few years. Along with qualitative and qualitative details pertaining to the market’s key elements, an overview of the chief macro and micro economic factors that will enable companies to the market to surmount competition are also examined in great details.

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