Smart Fleet Management Market

Continental AG (Germany) and Denso Corporation (Japan) are the Top Players in the Smart Fleet Management Market

Government regulations about safety and increasing demand for safety and security of fleets have changed the market dynamics for all modes of transportation original equipment manufacturers (OEM) globally. The global smart fleet management market is projected to grow at a CAGR of 8.0% during the forecast period, to reach USD 462.48 Billion by 2022. Asia-Pacific and Europe are estimated to be the prominent markets for advanced driver assistance systems (ADAS) such as adaptive cruise control and lane departure warning system in 2017, owing to the new safety mandates introduced in recent years.

The European New Car Assessment Program (Euro NCAP) has included lane departure warning and adaptive cruise control in its five-star rating program, which has boosted the market for these two systems. Asia-Pacific is estimated to be the largest market for smart fleet devices owing to increasing production of passenger cars, railway coaches, and vessel. Factors such as increased use of telecom network for safety and security, upcoming safety regulations, and technological advancements are set to boost the market for smart fleet management devices in the long term.

The top players in the smart fleet management devices market include Continental AG (Germany), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Harman International Industries (U.S.), and Precious Shipping Public Company Limited (Thailand) among others. Robert Bosch GmBH, Denso Corporation, and Continental AG are some of the leading suppliers of smart fleet management devices to transportation OEMs. New product development is a key strategy used by these companies. Continental AG has been concentrating on developing a robust product line by acquiring key technologies from various companies. For instance, in March 2016, the company announced the acquisition of Advanced Scientific Concepts, Inc. (U.S.) for its leading Hi-Res 3D Flash LIDAR technology. This would help to diversify the company’s product portfolio of driver assistance systems.

Another important player in the smart fleet management devices market is Denso Corporation (Japan). The company is one of the key suppliers of electronic components to the automotive and marine industries and provides electronic safety systems, advanced reception and connection systems, and driver assistance such as lane departure warning system and blind spot detection. Denso’s major customers include leading OEMs in the automotive industry such as Mitsubishi Motors (Japan), Tesla Inc., (U.S.), Cummins Corporation (U.S.), and Perkins Engine (U.K.). The company is constantly launching state-of-the-art products on a global scale; this has increased its customer base and expanded its presence in the global market.

Other major players in the smart fleet management market include Infineon Technologies (Germany), Robert Bosch GmbH (Germany), Precious Shipping Public Company Limited (Thailand), and Otto Marine Limited (Singapore) among others. These companies are mainly focusing on expanding their regional presence to achieve continuous and sustainable development. This is evident from several collaborations and joint venture projects that these companies have undertaken in recent years.

Related Reports:

Smart Fleet Management Market by Transportation (Automotive, Rolling Stock, Marine), Hardware (Tracking, Optimization, ADAS, and Diagnostic), Connectivity (Short, Long, and Cloud), Solution (Tracking and Optimization), and Region - Global Forecast to 2022

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Smart Fleet Management Market Size,  Share & Growth Report
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