On August 1, 2018 a new research report was published about IOT fleet management 2018-2023 trends depending on base year 2017. This research report exhibits a thorough overview about market status, and growth opportunities of IOT Fleet Management market by product type, application, key companies and key regions. The increasing trend of IOT fleet management was a result for a demand of an optimized business operations and real-time monitoring. Besides this another factor that played an important role in increasing the growth of IOT fleet is route management. With the increase in road traffic and the demand by the fleet companies to provide the shortest and less crowded routes, route management shares 38.4% of IOT fleet management.
According to this report North America shared the largest part in IOT fleet in 2016 i.e. 38%. In 2017 the net worth of IOT fleet Management was 3810 million USD which is expected to be 12700 million USD in 2023. It is expected that IOT fleet management market will be raised to CAGR of 22.2%. According to the report published by LP information Asia-Pacific will occupy more shares in China, North-America especially United States and Europe will still play an important role in global market.