USA: Research and Markets has released their latest report titled “Indian Vehicle Tracking & Fleet Management Market 2013-17”. This new report; “Indian Vehicle Tracking & Fleet Management Market, 2013-17” investigates opportunities in the vehicle tracking and fleet management sector in light of economic and policy development in India in late 2012 and early 2013. Implications of recent changes to laws governing foreign investment in retail, tax reform, the policy response to the Delhi bus rape, and the February 2013 budget are all covered in the new edition, and are used to inform scenarios and forecasts to 2017.
A key conclusion is that the long term opportunity for vehicle tracking and fleet management in Asia’s third largest economy is too large to ignore, though many tracking and fleet management companies, investors, and foreign commercial vehicle manufacturers, are struggling to find viable business models in the short term. This conflict between long term potential and short term challenges is a central theme of the report. Based on interviews with more than 40 leading industry figures in India and internationally during the second half of 2012 and early 2013, other key findings of the report include:
• India’s infrastructure investment plans of nearly US$ 1 trillion over the coming five years including planned construction of an additional 15,000km of highway by 2017 will drive demand growth for tracking and fleet management throughout India.
• Within the addressable market of one million commercial vehicles in 2013, vertical market segments including logistics, mining, construction and employee transportation, show strong demand for tracking and fleet management, underpinned by increasingly sophisticated use of vehicle and driver data by fleet operators.
• The 400,000 new buses which will be required by 2017 represent one of the biggest opportunities for fleet management and location based services thanks to recent policy initiatives by central and local government.
• Improvements in public procurement, is seen as a key to realizing the opportunity. Some public sector buyers are starting to base procurement decisions on overall life cycle benefits, rather than lowest unit cost. This trend will be a strong growth driver in the future.
• Suppliers also see the OPEX model combined with rigorous SLAs, as the key to unlocking large volume business in India in the coming years. Advances in tamper proof and ruggedized hardware, network reliability, cloud computing and integration with critical business systems are important enablers of the service model, while buyer-education is seen as essential in gaining acceptance of a true OPEX approach.
• TRN Indian Vehicle Tracking & Fleet Management Market, 2013-17 provides detailed up to date analyses of key market drivers, interview based profiles of 20 leading solution providers in India, analysis of the leading commercial vehicle manufacturers’ telematics solutions in India and the role of foreign investors. The report includes supplier market shares, market volumes, values and growth rates to 2017 for twelve vertical markets.