Transportation industry, like most other industries, is currently facing a huge change and this change brings both – risks and opportunities. Logistics companies are confronted with an age of unprecedented change as digitization came onto the stage and the customer expectations evolved. Technology is changing every aspect of how logistic companies operate. The new technologies enable greater efficiency and more collaborative operating model; they’re also re shaping the marketplace in ways that only just begin being apparent.
Currently, the ability to handle and operate fleets of various vehicles is a highly profitable business but hereafter, it will be a key potential for being successful in the Future of Mobility, as per Deloitte study.
The global smart fleet management market size was valued at USD 291.1 billion in 2016 and is expected to expand at a CAGR of 7.7% from 2018 to 2025.
The need to achieve higher operational efficiencies and enhance vehicular safety is the primary factor driving the growth of the market. In addition, integration of connected car technologies within vehicles has enabled a variety of solutions that can help enhance fleet operations.