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Back to Blog • Posted on January 18, 2016 by admin
Fleet management is important to creating an efficient transportation process. The benefits to tracking a fleet of moving assets is the room that exists for optimization. Technology like GPS trackers, radio frequency identification tags, and sensors are used to monitor vehicles and check the fleet movement and fuel usage.
In the next 5 years the fleet management industry is expected to hike from a $8.03 Billion valuation to $22.35 Billion by 2020. This pertains to the United States. Due to the high cost of fleet management services economies like South America are sluggish in their development of such markets.
Currently, most fleet management solutions exist in North America and Europe. Kika Enterprises is your M2M partner and is ready to help your business excel, whilst operating at its optimum potentiality.
This figure shows the top three revenue segments in fleet management for 2015. The largest segment is connectivity technology, which is what most of Kika’s products are used for. The enhancement in mobile devices, telecommunications, and sensor technology has catapulted the industry into fast-paced growth. The ability to access this data in real time has made it even more valuable for businesses.
The more that people embrace the internet for purchasing daily items the more that fleet management will grow. In recent years we have seen the exponential growth of Uber and have gained pleasure from seeing the small icon of a car drive closer to us. This is the same feeling Kika Enterprise customers experience when they can track their entire fleet of vehicles from a desktop or mobile device.
The fleet management connectivity market is valued at USD 2,585.6 million in 2015 and projected to reach USD 7,541.3 million by 2020, at a CAGR of 23.9% during the forecast period. The decrease in hardware and connectivity systems cost is the primary driving force for the market growth.