The fleet management camera market has grown rapidly in recent years, with an expected increase from $1.82 billion in 2023 to $2 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.2%. This growth can be attributed to the rising e-commerce and logistics demands, stricter safety regulations, the need for improved driver monitoring, concerns over fleet safety, and the growing shift towards real-time data analytics.
The fleet management camera market is projected to reach $2.96 billion by 2028, growing at a CAGR of 10.3%. The growth is driven by the integration of AI for predictive analytics, the adoption of electric vehicles, rising consumer expectations for transparency, and the expansion of mobility-as-a-service models. Trends include real-time data analytics, ADAS integration, and a focus on enhanced cybersecurity and regulatory compliance.
Major Driver In The Fleet Management Camera Market
The increasing demand for mobility-as-a-service (MaaS) is anticipated to drive growth in the fleet management camera market. MaaS integrates various transportation services into a single platform, responding to urbanization and the need for efficient transport solutions. Fleet management cameras enhance MaaS by improving driver safety and providing real-time data for effective route management. According to the Department for Transport in April 2023, the number of private taxi hire vehicles rose to 89,600, reflecting an 11% increase compared to March 2022, illustrating the growing demand for efficient transportation solutions that will boost the fleet management camera market.
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Fleet Management Camera Market Competitive Landscape
Garmin Ltd., Trimble Inc., Verizon Connect Inc., Samsara Inc., Geotab Inc., Raven Industries Inc., CalAmp Corp., Webfleet Solutions B.V., Azuga Inc., Zonar Systems Inc., Teletrac Navman US Ltd., Fleet Complete Inc., MiX Telematics Limited, Lytx Inc., EROAD Inc., FleetOptix LLC, NexTraq Inc., VisionTrack Ltd., ZendulIT Ltd., CameraMatics Ltd., The Vestige Group Inc., Zubie Inc.
Key Fleet Management Camera Market Trend
Companies in the fleet management camera market are advancing AI and digital services, such as AI-powered dash cams, to enhance driver safety and improve fleet efficiency. AI-powered dash cams analyze driving behavior in real-time, detect risks, and provide safety alerts. In August 2023, Teletrac Navman, a US-based fleet management software developer, introduced the IQ Camera, an AI-powered dual-camera dash cam integrated with its TN360 software. This system offers real-time monitoring, advanced driver assistance systems, and driver status monitoring. It automatically uploads video data for analysis, helping fleet owners improve driver performance and overall fleet efficiency.
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Global Fleet Management Camera Market Segmentation
The fleet management camera market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Deployment: On-Premises, Cloud
3) By Application: Food And Beverage, Grocery, Agriculture, Construction, Transportation, Logistics, Pharmaceutical, Mining, Automotive, Other Applications
By Geography:The regions covered in the fleet management camera marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the fleet management camera market in 2023.
The Fleet Management Camera Global Market Report 2024 furnishes information about the global fleet management camera market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
