Smart Fleet Management Market
Latin America Smart Fleet Management Market is expected to reach USD XX Billion by 2026 from USD XX Billion in 2019 at a CAGR of XX%
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Smart Fleet Management Market
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Latin America Smart Fleet Management Market is segmented into transportation, hardware, connectivity, solution, and geography. Based on the hardware segment, the market is classified into tracking optimization, ADAS, and remote diagnostics. The ADAS or advanced driver assistance systems held the largest market share for the smart fleet management market owing to its ability to monitor and deliver real-time data to the drivers for properly driving the car. Based on connectivity, the short-range communication system is the largest segment followed by a long-range communication system. Increase in growth of traffic and rise in demand for monitoring of shorter distances to manage traffic jams have led the short-range segment to holds the largest market share. There is also an increase in demand for developing systems that will further contribute towards the reduction of traffic fatalities, thereby helping to save fuel, and increase efficiency.
With the improved use of internet and recent technological developments in connectivity, the demand has increased for fleet management to ensure vehicle safety further cutting down the idle time. The fleet management solution by various companies offers an integration of in-vehicle devices using multiple software and services. It reduces the turnaround time and increase overall profitability for the operator as well. Smart fleet management solutions are applied across different modes of transportation that range from commercial vehicles, tracking of railcars, vessel maintenance, and others. The fleet management technology also enhances transparency further enabling real-time visibility of fuel management, vehicle maintenance, fleet movement, diagnostics, driver management, and real-time monitoring.
The few key trends followed in the smart fleet management include outsourcing, more safety equipment, telematics, alternative powertrains, and residual values. The market for smart fleet management has completely changed during the latest years with more outsourcing done from the foreign shores. Safety standards are also evolving from cheap machineries with higher focus being given towards hybrids in state of mobility and environmental issues. Telematics involve more solutions given to the personal security solutions that have further seen immense growth in Latin America.
Latin America has seen huge growth across a number of industry verticals owing to the availability of cheap labor and rise in number of off-shore foreign investments. The increase in government policies to grow smart vehicles, boost IoT connections along with infrastructural development have been a few other key factors that has provided huge market opportunities for Smart Fleet Management market in Latin America.
Key players operated in market includes Gobal Fleet, Elix, Evatran, Sonda, Robert Bosch, ALD, Advantech, KalmarGlobal.
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Latin America Smart Fleet Management Market by Transportation:
• Rolling Stack
Latin America Smart Fleet Management Market by Hardware:
• Remote Diagnostics
Latin America Smart Fleet Management Market by Connectivity:
• Short Range Communication
• Long Range Communication
Latin America Smart Fleet Management Market by Solution:
• Vehicle Tracking
• Fleet Optimization
Latin America Smart Fleet Management Market by Geography:
Key players operated in Latin America Smart Fleet Management Market includes:
• Gobal Fleet
• Robert Bosch
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