Dublin, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The "Latin America Smart Fleet Management Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.
This research report puts forth that the Latin America smart fleet management market would progress with a CAGR of 7.60% over the forecasting years from 2021 to 2028. Mexico, Brazil, and the Rest of Latin America together make the market in this region.
In countries like Brazil and Mexico, development in the economy is expected to enhance the adoption of smart fleet technologies in the forecasted period. Moreover, the continuous rise in the need for vehicle safety and the proper management of large fleets are creating opportunities for the market in this region. Moreover, the need for vehicle security and an efficient tracking system to provide immediate support in case of emergency can be catered to with these smart fleet management applications.
Fleet customers in Mexico are becoming more sophisticated and open to new international standards. Therefore, the need for IoT and telematics is rising in the country, which is contributing to the growth of its automotive sector. TomTom Telematics offers WEBFLEET, a fleet management platform, which helps improve operational efficiency and gain a competitive edge.
The Mexican market exhibits great potential for fleet management services, thanks to the growing manufacturing industry, particularly, the automotive industry. Also, most US-based companies are setting up their manufacturing plants in Mexico as it offers lower manufacturing costs. This is expected to drive the market for smart fleet management in the coming years.
COMPETITIVE OUTLOOK
The eminent names in the smart fleet management market are:
- Siemens AG
- Sierra Wireless Inc
- Denso Corporation
- ID Systems Inc (Powerfleet Inc)
- Continental AG
- Tech Mahindra Limited
- Orbcomm Inc
- Cisco Systems Inc
- Omnitracs LLC
- Robert Bosch GmbH
- International Business Machines Corporation
- Zonar Systems Inc
Key Topics Covered:
1. Latin America Smart Fleet Management Market - Summary
2. Industry Outlook
2.1. Impact of Covid-19 on the Smart Fleet Management Industry
2.2. Key Insights
2.2.1. Growing Interest Towards Cloud-Based Smart Fleet Management Solutions
2.2.2. Emergence of Intelligent Transportation Systems
2.2.3. Fuel Management & Vehicle Monitoring
2.3. Porter's Five Forces Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitute
2.3.3. Bargaining Power of Buyers
2.3.4. Bargaining Power of Suppliers
2.3.5. Threat of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Industry Components
2.7. Key Market Strategies
2.7.1. Acquisitions
2.7.2. Product Developments
2.7.3. Contracts & Agreements
2.7.4. Investments & Expansions
2.8. Market Drivers
2.8.1. Demand for Streamlining Fleet Operations
2.8.2. Rapid Development in Network Infrastructure and Declining Hardware Costs
2.8.3. Proactive Initiatives Towards Vehicle Safety and Emission
2.9. Market Challenges
2.9.1. High Costs & Security Concerns
2.10. Market Opportunities
2.10.1. Introduction of Connected Technologies in Vehicles
2.10.2. Incorporation of Real-Time Fleet Monitoring Systems in Automobiles
3. Latin America Smart Fleet Management Market Outlook - by Connectivity
3.1. Short Range
3.2. Long Range
3.3. Cloud
4. Latin America Smart Fleet Management Market Outlook - by Transport Type
4.1. Roadways
4.2. Marine
4.3. Airways
4.4. Railways
5. Latin America Smart Fleet Management Market Outlook - by Application
5.1. Adas
5.2. Tracking
5.3. Optimization
5.4. Fuel Cards
5.5. Automatic Vehicle Identification
6. Latin America Smart Fleet Management Market - Regional Outlook
6.1. Brazil
6.2. Mexico
6.3. Rest of Latin America
7. Competitive Landscape
8. Research Methodology & Scope
For more information about this report visit https://www.researchandmarkets.com/r/1gf9m3
