In the 21st century, the craze for technologically advanced has increased drastically across the globe. The rise in purchase of these vehicles to provide safety and operation efficacies is likely to fuel growth in the smart fleet management market. Technological advancements also encouraged connected cars technologies that will augment growth in this market. Players operating in the smart fleet management market are engaged in further research to enhance the services provided to the customers. Targa Telematics developed an innovative solution to point the inefficiencies of fleet management. This solution improves the operational processes at a reduced cost.
Another example involves an organic strategy, where Zonar Systems, Inc. was acquired by Continental AG to extend its presence in the United States and extend its mobility services. Zonar Systems is a provider of fleet management solutions aiming to mark its presence in this region. Other players such as Continental Ar G, Cisco Systems, Inc., IBM Corporation, Robert Bosch GmbH, and Siemens AG are also using similar strategies to get a stronghold in the global smart fleet management market.
Favorable Conditions for Intelligent Transport Systems Result in Wider Adoption of Smart Fleet Management
Initiatives taken by governments along with supportive government regulations created a more secure and reliable environment for the transportation network. To create such an environment, demand for intelligent transport systems has increased rapidly. Moreover, deploying smart fleet management solution assists fleet operators to gather information on a real-time basis. Using connected vehicle technologies helps in reducing carbon emissions, minimizes energy consumption, and prevents road congestion. These conditions have attracted massive government support, as it will help economies grow substantially.
To benefit the most from these features, the adequate network infrastructure is required especially in developing economies. Advanced cyber-security solutions need to be in place to provide effective security for data collected through connected vehicles. By ensuring the security of the data and growing demand for automated vehicles, the demand in the global smart fleet management market will rise in the coming years.