The
report titled “India Fleet Management Systems Market Outlook to 2025-
Driven by Introduction of AIS 140 Standards, Increase in use of Artificial
Intelligence and Fleet Size” provides a comprehensive
analysis of the Fleet Management Market in India. The report explains the pain
points and need for Fleet Management Systems along with Target addressable
market and a detailed analysis of Supply and Demand & the logistics market.
It also includes Aggregator Landscape (Digital Freight forwarding), in depth
competitive analysis, cross comparison between major companies and company
profiles. It concludes with future scope and potential in the market along with
key recommendations.
Market Overview
The
Overall Fleet Management Industry is at a nascent stage, with ~ 95% of the
market yet to be tapped. The market is extremely price sensitive with 80% 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.
Supply Analysis
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.
Demand Analysis
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.
Market Segmentation
The
market is dominated by entry level products, with large fleet owners/operators
demanding the most. Mining, Oil & Gas, State Transportation, Logistics and
Transportation, FMCG and Retail are the major end users of Telematics and Fleet
Management Systems. Most of the hardware is imported from china, which is
cheaper than hardware manufactured in India. Embedded Solutions dominate the
market since they are more reliable and stable, with lesser chances to tamper
the device, but the use of portable solutions are growing in the past 5 years.
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 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 Software 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 limitedly
in the overall market. After Vehicle Tracking Solutions, solutions with fuel
monitoring are preferred the most.
Government Regulations
In
2018, AIS 140 Standards was introduced with a focus on increased safety and
security of passengers and vehicles. Published by Automotive Research
Association of India, AIS 140 mandates a vehicle Tracking Device and one or
more emergency buttons must be installed in all existing and new public service
(State Transportation Busses) and Commercial Vehicles. As the market is set to
grow at a healthy rate in the future, there is a need for a formal association
for Fleet Management to exist to help in guiding and implement the policies and
guidelines effectively.
Competitive Landscape
The
Fleet Management System in India is at a nascent stage with overall penetration
about 5%, 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.
Future Outlook and Projection
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 20% 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
Key
Topics Covered in the Report:-
Pain Points
Need for FMS
Key Recommendations
Target Addressable Market
Transport Vehicles and Penetration
India Logistics Industry
India Digital Freight Forwarding Landscape
Market Size and Segmentation
Competitive Analysis
Government Regulations
Future Outlook
Industry Speaks (Interviews)
For More Information, refer
to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
Nice Article...
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