Wednesday, June 10, 2020

India Fleet Management Market, India Fleet Management Industry: Ken Research

How is the Fleet Management industry in India Positioned?
The Overall Fleet Management Industry is at a nascent stage, with ~ % of the market yet to be tapped. The market is extremely price sensitive with ~% of the hardware imported from China with very few companies in India that manufactures their own hardware. Increasing sales of Commercial Vehicles and Introduction of AIS 140 standards along with growing use of technology is driving the Fleet Management Market currently.
The market being price sensitive is extremely competitive with technology being the main differentiator between the companies. Increase in use of Artificial Intelligence along with use of Big Data and Predictive Analytics is set to dominate the market.  Lack of Proper Infrastructure, poor regulations and price sensitive mindset of fleet owners are the main barriers to entry for the companies in this industry.
The market has been growing at a double digit CAGR for the past 5 years. Increased consumerism due to explosive E Commerce growth has made Transport & Logistics Sector the Fastest Growing Industry, Followed by the Oil & Gas sector which are the major users of Telematics and Fleet Management Solutions. Government Regulations plays an increasing Telematics penetration in the country however regulations without proper implementation are rendering these regulations ineffective.
How is the Market Segmented?
By Hardware and Software
Hardware is the nucleus of the entire ecosystem. Reliability and stability of Hardware is necessary for building a quality Fleet Management Solution. In India most of the hardware products are imported from China, while other import regions are Lithuania and Israel with very few manufacturing in the country.
By Solutions
The market is dominated by Vehicle Tracking Solutions, since most of the customers just use it as a service to keep track of the vehicle and to avoid vehicle theft. Advance level packages are used by less than ~ % in the overall market. After Vehicle Tracking Solutions, solutions with fuel monitoring are preferred the most.
By Type of Services
In India, the regulatory environment is not reliable and for Vehicle Insurance claims the fleet analytics often goes unchecked unless the value of the shipment is higher.
By Type of Commercial Vehicle
Medium and Heavy commercial vehicles majorly demand Fleet Management Systems and Fleet Analytics. Predominantly, the end user industry is dominated by Oil & Gas, Transport & Logistics and State Transportation, which all use M & HCV extensively.
By Transport Vehicle Type
Fleet Management Software is demanded mostly in the Commercial vehicles segment predominantly used for transporting goods.
By Hardware Type
Most of the Fleet Management Solutions are embedded into the Vehicles, as it is more reliable and durable than portable device. The fleet operators have better control over an embedded solution than a portable device.
By Package Type
Most of the devices sold in the Industry are Entry Level industry which is enabled to fulfil the mandatory guidelines laid down by the government. Advance level packages are mainly used in Transport & Logistics Sector and Oil & Gas Sector, which have larger fleets in the Industry.
Competitive Landscape
The Fleet Management System in India is at a nascent stage with overall penetration about ~ %, thereby leaving a huge scope of untapped market. The Competition is extremely fragmented if we consider track n trace solutions, but for complete fleet management solutions, the competition is concentrated with very few companies manufacturing their own hardware and offering advanced analytics for Fleet Management. The major players in this industry are iTrangle Infotech, Minda iConnect, Intangles, LocoNav, FleetX, LogiNext and Trimble Navigation.
What is the Future of India Fleet Management Industry?
Companies would be looking further to expand their geographical presence outside India preferably to South East Asia and the United States. Although Heavy Commercial vehicles demand fleet management systems the most, there is going to be an increase in the use of Telematics and Fleet Management Systems in Two Wheelers (Bikes). Two wheeler manufactures are looking to integrate navigation and track n trace software’s in bikes to help in maintaining and offering assistance to the owners. The demand is expected to grow at a CAGR of over ~ % in the next few years majorly driven by AIS 140 Standards, Growing E Commerce Market and optimization of Supply Chain along with increase in use of Artificial Intelligence and Big Data Analytics.
Key Segments Covered:-
By Hardware and Software
By Solutions
Vehicle Tracking
Fuel Monitoring
Driver Management
Vehicle Health Monitoring
By Type of Commercial Vehicles
LCV
MCV
HCV
By Type of Transport Vehicles
LMV Freight
LMV Passenger
Trucks
Taxis
Buses
Other Vehicles
By Type of Services
After Sales Service
Claim Inspection Service
Other Services
By Solution Type
Embedded Solutions
Portable Solutions
By Package Type
Entry Level
Mid Level
Advance Level
Companies Covered:-
iTrangle Infotech
Minda iConnect
Intangles
LogiNext
FleetX
LocoNav
Trimble
Key Target Audience:-
Logistics Companies
Fleet Management Companies
Digital Freight forwarders
Private Ventures and Equity Firms
OEM’s
Transport Companies
Fleet Operators
Time Period Captured in the Report:-
Historical Period: 2014–2019
Forecast Period: 2020-2025
For More Information, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Posted by at
Labels: , ,

2 comments:

Subscribe to: Post Comments (Atom)