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Is your fleet equipped to witness smart fleet expansion at CAGR of 10.2% between 2022 and 2031?

According to an analysis by Transparency Market Research, Inc., the Smart Fleet Management Market is expected to grow to US$ 962.6 Billion by 2031 end.

Based on smart fleet management industry research, it is now of paramount importance to integrate advanced driver assistance systems (ADAS) in vehicles in order to ensure the best fleet management practices. As per the statistics, the market would expand at a CAGR of 10.2% between 2022 and 2031.

IoT-based fleet management have become more widely popular in recent years to improve fleet management efficiency, driver safety, increase productivity, better fuel economy, and timely preventive maintenance. Due to the use of IoT and telematics for fleet management, solution providers and OEMs are projected to have lucrative business possibilities over the forecast period. Additionally, the use of cloud-based services and artificial intelligence technologies will certainly pave the way for better connected fleets.

The surge in customer demand for shared mobility over the past several years has created considerable potential for OEMs and automakers to include smart fleet management technologies. It is anticipated that automakers would use connected fleet management to optimize shared mobility services, driving the growth of the smart fleet management market

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