Global Smart Fleet Management Market is Expected to Reach $537.53 Billion, Globally by 2025

The global smart fleet management market was estimated at $276.56 billion at 2017 and is expected to hit $537.53 billion in 2025, garnering a CAGR of 8.9% during the forecast period. Integration of real-time fleet monitoring systems in vehicles, rise in use of cloud based technology for smart fleet management solutions and enhanced vehicle monitoring as well as fuel management have fueled the growth of global smart fleet management market. On the other hand, different security & privacy concerns have happened to check the market growth to some extent. Nevertheless, the intervention of automatic data capture and transfer have created multiple opportunities in the segment.

The report divides the market into transportation, hardware, connectivity, solution, and geography. By transportation type, it is segmented into automotive, rolling stone, and marine. Based on hardware, it is categorized into tracking, optimization, ADAS, and diagnostics. By connectivity, it is classified into short, long, and cloud. By solution, it is carved up into tracking and optimization. By geography, it is analyzed across North-America, Europe, Asia-Pacific, and LAMEA. Based on transportation, the roadways segment accounted for nearly three-fifth of the total market in 2017 and is anticipated to dominate throughout 2017-2025. The rising number of roadways vehicle and government facilities to improve the safety standards have driven the growth.

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By application, ADAS contributed to nearly three-fifth of the total market and is expected to maintain its top status during the forecast period. Top-end innovation & research in advancement of ADAS system have augmented the demand for smart fleet management market. By connectivity, the short-range segment accounted for nearly two-third of the total market 2017, growing at a CAGR of 7.8% during the period 2017-2025. On the other hand, the tracking segment showcased a CAGR of 9.7% throughout the period, thereby coming out as the highest shareholder in the market.

By region, Asia-Pacific held the share of more than one-third of the total market in 2017 and turned out to be the largest shareholder during the forecast period. The key players analyzed in the report include ChainwayTSP Co., Ltd., CarTrack Technologies Co. Ltd., Hyundai Motors, General Motors, BMW, Precious Shipping Company Private Limited, Infineon Technologies AG, Zonar Systems, Denso Corporation, Magellan and Trimble Navigation Ltd., and Workwave LLC.

Global Truck Platooning Market Worth $4590.3 Million by 2025 | CAGR: 32.4%

The global truck platooning market garnered $500.9 million in 2017 and is expected to garner $4.59 billion by 2025, growing at a CAGR of 32.4% from 2018 to 2025.

Stringent government policies for reducing emission in the transport sector, lowered fuel consumption, and supportive government initiatives for platooning drive the growth in the market. However, expensive platooning technology and increase in security & privacy concerns hinder the market growth. On the other hand, expanding size of fleet of truck platooning and surge in production of fully autonomous trucks create new pathways in the industry.

Based on technology, the adaptive cruise control (ACC) technology accounted for the highest market share in 2017, contributing nearly one-fourth of the total share. This is due to its advantages such as crash avoidance, less driver fatigue, and others. However, the blind spot warning (BSW) technology is expected to register the highest growth rate, with a CAGR of 38.4% from 2018 to 2025. This is attributed to reliable information provided regarding vehicle's blind spot, safe lane changing, high level of safety, and others.

Based on platooning type, the driver-assistive tuck platooning (DATP) segment contributed nearly 99% of the total market share in 2017, and is estimated to maintain its dominance throughout the forecast period. This is owing to autonomous trucks being in development phase along with feasibility of trucks with level 1 and level 2 automation for truck platooning. However, the autonomous truck platooning segment is expected to grow at the largest CAGR of 46.6% during the forecast period, 2018–2025. This is due to continuous developments carried out by the leading truck manufacturers producing trucks equipped with autonomous technology.

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North America contributed nearly half of the total share in terms of revenue in 2017, owing to supportive government policies for carrying out tests for platooning trucks on the roads. This region would maintain its dominant position throughout the forecast period. However, LAMEA is estimated to register the highest growth rate with a CAGR of 36.0% from 2018 to 2025, owing to reduction in fuel consumption, lowered carbon emissions, and others.

Leading market players analyzed in the research include AB Volvo, Continental AG, Bendix Commercial Vehicles Systems LLC, Delphi Automotive PLC, Daimler AG, Navistar International Corporation, Meritor Wabco, Peloton Technology, OTTO Technologies, Scania AB, and others.

Mobile Wallet Market to Reach $ 5,250 Million, Globally, by 2025, Says Allied Market Research

The mobile wallet market is witnessing growth globally with increasing adoption of mobile payment services. Asia Pacific is expected to be the fastest growing region for the market, during the forecast period followed by EMEA. 

the Global Mobile Wallet market size was valued at $16,650 million in 2013 and is projected to reach $ 5,250 million by 2020, growing at a CAGR of 127.5% from 2013 to 2020.

Growing awareness regarding mobile wallets and their applications, rising smartphone penetration and increasing security are expected to drive the mobile wallet market. Mobile commerce is expected to be the leading segment till 2020, followed by mobile ticketing and mobile money transfer.

The mobile wallet market is witnessing growth globally with increasing adoption of mobile payment services. The lack of regulations and monitoring for mobile enabled payments in African countries has triggered the mobile wallet growth in the region, whereas reluctance of merchants in Asia Pacific countries such as India, temporarily has hold the growth, which in turn will prompt the much faster adoption in future explain the analysts.

Although mobile payment services have the potential to transform the shopping and payment experience, most consumers still prefer cash or credit card payment due to their concerns related to security and technology infancy of mobile wallet. On the other hand, higher investment and deployment issues have also been detrimental to mobile wallet industry. Although these restraints are prevalent, companies from the telecommunication industry are collaborating to better serve the needs of the customers with new and improved product/service innovations, which will help to better the adoption both in consumer and merchant groups.

The global mobile wallet market is segmented based on applications, mode of payment and stakeholders. On the basis of applications, the market is segmented into mobile commerce, mobile ticketing, mobile coupons, money transfers, micro payments and others. In terms of mode of payment, the market is divided into NFC and remote payment. The stakeholders for the mobile wallet industry involve mobile network operators, handset manufacturers, mobile payment service providers, OSS/BSS solution providers, software developers, content and applications aggregators, and others which includes TSM, value service providers, retailers/merchants and mobile payment networks and banks. The OSS/BSS Solution Providers is expected to witness highest growth rate mainly due to the consistent development of mobile wallet in terms of technology namely NFC technology. The study also offers an updated review on the present major market players, which also includes description of relevant recent developments activities. Global positioning of the most active market players is also included in the study.

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Some of the key market players profiled in the report include American Express, Apple Inc., MasterCard, Visa, AT&T, Sprint, First Data, BlackBerry, Samsung, Google, and others. These companies are focusing on adopting strategies, such as product/service innovation, collaborations, and mergers and acquisitions to increase their market share and build consumer confidence respectively. For instance, American Express has recently come up with a new global standard to boost the digital payment security and make things easier for consumers with purchasing when shopping on a mobile handset, tablet, personal computer or any smart device.