US Smart Fleet Management Market Size Likely to Surpass at a CAGR of 7.4% By 2033

The CMI Team’s most recent market research predicts that from 2024 to 2033, the US Smart Fleet Management Market will grow at a CAGR of 7.4%. In 2024, the market size is projected to reach a valuation of USD 170.3 Billion. By 2033, the valuation is anticipated to reach USD 323.8 Billion.

US Smart Fleet Management Market: Growth Factors and Dynamics

• Technological Progressions: The integration of advanced technologies such as GPS technology, IoT applications, Artificial Intelligence, and telematics, amongst others, in the management of fleets is a revolution from the management of fleets to real-time tracking of vehicles, prediction of breakdowns, transits, and even advanced routing of the vehicles. These technologies enable a greater understanding of the fleet systems, improving efficiency and reliability and propelling the market’s growth.

• Growth in the Need for Operational Efficiency: Organizations are increasingly deploying smart fleet management systems to improve their activities, reduce fuel costs, and improve the efficiency of delivery trips. The above need for operational efficiency translates to cost savings and enhanced productivity, so smart fleet management becomes a wise decision.

• Government Policies and Strategies: Stringent government policies aimed at addressing carbon emissions and improving vehicle safety risk, encouraging firms to embrace improved fleet management systems. Furthermore, these policies introduce subsidies for electric and autonomous cars, facilitating market growth by promoting cleaner and better fleets.

• Increase in the Importance of Safety and Compliance: The increased concern about the safe use of vehicles and compliance with set standards is propelling the market for smart fleet management solutions. These solutions comprise capabilities for monitoring operations in real time, analytical capabilities, and reporting capabilities, allowing firms to comply with safety requirements and avoid incurring losses due to fines.

• Growth in the E-Commerce and Logistics Sectors: Due to the expansion of the e-commerce and logistics sectors, there is a greater need for fleet management systems that can ensure effectiveness. E-commerce transportation includes children’s saver cut-outs who do not want to be in the van. Also, in managing fleets for good and fast delivery, smart fleet systems optimize delivery on time without compromising the efficiency of operations.

• Consumer Expectations about Sustainable Solutions: In recent years, there has been a growing concern among consumers about environmental sustainability, and this expectation creates a strain on businesses. These smart technologies that adhere to fuel policies, cut emissions, and facilitate using electric or hybrid cars promote their use in the market.

• Data-Driven Decision Making: The capacity to harness big data and analytics is revolutionizing fleet management. Such smart Management Systems support the collection and analysis of data to provide the necessary insights for operating costs such as vehicle maintenance, vehicle rerouting, and controlling drivers’ behaviors. This operation model helps streamline activities, improve effectiveness, and cut back expenses, prompting the use of smart fleets.

US Smart Fleet Management Market: Partnership and Acquisitions

• In 2024, Electric vehicles (EVs) are changing how fleet management is done within a corporation, as illustrated by the partnership between Mercedes-Benz and SAP. Mercedes-Benz relied on SAP’s systems to digitalize its procurement operations in this case. At the same time, SAP, on the other hand, used its technology to manage Mercedes-Benz’s fleet, thereby demonstrating a collaborative innovation in mobility.

• In 2023, Samsara’s “Sustainable Fleet Management” solution will include fuel efficiency and EV-related materials in its capabilities. New systems offer customers data-centric viewpoints for greener fleets by decreasing emissions, mitigating EV changes, and achieving sustainability targets—enabling climate-friendly fleet management.

Report Scope

US Smart Fleet Management Market: COVID-19 Analysis

The smart fleet management market in the U.S. was adversely affected by the COVID-19 pandemic due to its associated disruptions in various sectors. Demand for transport services fell dramatically due to restrictions on movements and lockdown – especially in the logistics sector, the transportation of passengers, and also freight carrying services.

Since few or no vehicles were operating, fleet operators experienced reduced revenues, influencing their spending on sophisticated fleet management systems. In addition, in the face of external economic uncertainty, nearly every company focuses on a cost-reduction strategy rather than enhancing technology. That is why many smart fleet solutions, such as telematics, GPS, and predictive maintenance systems, have not been embraced.

Also, logistics interruptions made it hard to obtain aid equipment, slowing down changes. Although the pandemic created a need for improved fleet effectiveness, the simple prioritization of immediate revenue generation pressures and system services market volatility still limited the smart fleet management market growth in the United States for that period.

 List of the prominent players in the US Smart Fleet Management Market:

• Samsara Inc.
• Geotab Inc.
• Verizon Connect (Verizon Communications Inc.)
• Trimble Inc.
• Teletrac Navman (Fleet Complete)
• TomTom Telematics (TomTom N.V.)
• Fleet Complete
• Zonar Systems (ZF Friedrichshafen AG)
• Cerner Corporation
• Omnicomm Systems
• Lytx Inc.
• Dashcam (Cinch IT Solutions)
• KeepTruckin Inc.
• Trackimo
• Vehicle Tracking Solutions (VTS)
• Others

The US Smart Fleet Management Market is segmented as follows:

By Mode of Transport

• Automotive
• Rolling Stock
• Marine
• Others

By Hardware

• Tracking
• Optimization
• Advanced Driver Assistance Systems (ADAS)
• Remote Diagnostics
• Others

By Connectivity

• Short Range Communication
• Long Range Communication
• Cloud

By Solutions

• Vehicle Tracking
• Fleet Optimization