Mobile Resource Management (MRM) Solution Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis,
Mobile Resource Management (MRM) Solution market is rapidly gaining application importance as powerful business productivity tool owing to its ability to integrate wireless connectivity, location technologies, hardware, data interoperability server, and transaction processing onto single platforms. This system and services also known as commercial telematics, finds major applications in asset, workforce and fleet monitoring and tracking systems, is expected to considerable demand growth over the forecast period. The primary tenet of these MRM solutions is to reduce the execution risk of the field operations, through automating the business critical applications by improving management, visibility, reduce operating costs and increase mobile workforce productivity.
Transportation and logistics application segment is expected to remain the primary growth driver
Transportation and logistics are the prominent application segments owing to requirement of these systems and services to monitor fleet vehicles and assets such as heavy equipment and trailers. Moreover, proliferation of GPS enabled smartphones and tablets have found increased applications for management of mobile workers. According to Coherent Market Insights, the MRM applications in the segment contributes to around 10 million units, in the U.S. alone.
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https://www.coherentmarketinsights.com/ongoing-insight/toc/642
Mobile Resource Management (MRM) Solution Market Taxonomy
On the basis of technology, the global mobile resource management solution market is classified into:
Field force management
Field service automation
Mobile sales force automation
On the basis of components, the global mobile resource management solution market is classified into:
Hardware
Connectivity
Data Interoperability Server
Geographic information system (GIS) Data
Decision making, Viewing and Reporting Software
On the basis of end users, the global mobile resource management solution market is classified into:
Transportation & Logistics
Energy & Utilities
Healthcare
Construction
Others
Reduction in costs achieved and high rate of return on investments (ROI) is anticipated to be the prominent industry growth driver
Utilization of these systems allows end use industry to enable efficient means of managing data, costs and increased accountability. The data received from these systems is stored in standardized database, which is easily accessible on demand. This enables end user to create meaningful reports regarding the performance of the workforce, and plan decisions accordingly. Moreover, reduced paper work related expenses, low overtime labor costs, accurate job evaluation, and high job completion rates enables increased profit margins. These factors are expected to garner increased adoption rates and propel the mobile resource management solution market over the forecast period.
High initial cost and reluctance of SMBs towards the mobile resource management solution is expected to present major growth challenge
Significant number of small and medium-sized businesses (SMBs) have reported lack of requirement of these solutions for their operations. Moreover, substantial initial costs of these system deployments is a major concern, even for the large organizations can present potential growth challenge to the industry growth. High upfront costs are primarily associated with the hardware expense and the requirement for backend integration and customization costs.
U.S. held the major industry share, whereas Asia Pacific is expected to witness highest growth during the forecast period
According to Coherent Market Insights’ research, even though U.S. held the major industry share in 2016, the industry penetration was still around 40% in the region. Owing to this factor, even U.S. is expected to witness significant growth potential over the forecast years. Asia Pacific has witnessed significant increase in trade activities over the past few years, primarily owing to outsourcing of production activities in the region. China, Japan, India, South Korea and Indonesia are among the major countries that may offer significant growth opportunities owing to rampant growth of end-use industries. Moreover, requirement to monitor the export of manufactured goods and amenities, will help the industry participants establish strong foothold in the region.
Chief industry participants in the mobile resource management solutions market include AppLocation Systems, Inc., AT&T, CalAmp Corporation, Garmin International, Masternaut, PeopleNet Communications Corporation, SkyBitz, Inc., and Spireon, Inc. Industry participants are increasingly making efforts to provide cutting edge solutions to enhance its applications and expand their regional presence in order to strengthen their foothold in the market. For instance, CompassCom announced it plans to introduce its MRM solutions to leverage their investments in ArcGIS. Their solutions are featured with real time monitoring and asset tracking, improved safety, accountability and efficiency for assets and personnel, in June 2017.
For More Information :
https://www.coherentmarketinsights.com/ongoing-insight/mobile-resource-management-solution-market-642
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Visit our news Website: http://www.coherentchronicle.com
Transportation and logistics application segment is expected to remain the primary growth driver
Transportation and logistics are the prominent application segments owing to requirement of these systems and services to monitor fleet vehicles and assets such as heavy equipment and trailers. Moreover, proliferation of GPS enabled smartphones and tablets have found increased applications for management of mobile workers. According to Coherent Market Insights, the MRM applications in the segment contributes to around 10 million units, in the U.S. alone.
Request Table of Content of this Report :
https://www.coherentmarketinsights.com/ongoing-insight/toc/642
Mobile Resource Management (MRM) Solution Market Taxonomy
On the basis of technology, the global mobile resource management solution market is classified into:
Field force management
Field service automation
Mobile sales force automation
On the basis of components, the global mobile resource management solution market is classified into:
Hardware
Connectivity
Data Interoperability Server
Geographic information system (GIS) Data
Decision making, Viewing and Reporting Software
On the basis of end users, the global mobile resource management solution market is classified into:
Transportation & Logistics
Energy & Utilities
Healthcare
Construction
Others
Reduction in costs achieved and high rate of return on investments (ROI) is anticipated to be the prominent industry growth driver
Utilization of these systems allows end use industry to enable efficient means of managing data, costs and increased accountability. The data received from these systems is stored in standardized database, which is easily accessible on demand. This enables end user to create meaningful reports regarding the performance of the workforce, and plan decisions accordingly. Moreover, reduced paper work related expenses, low overtime labor costs, accurate job evaluation, and high job completion rates enables increased profit margins. These factors are expected to garner increased adoption rates and propel the mobile resource management solution market over the forecast period.
High initial cost and reluctance of SMBs towards the mobile resource management solution is expected to present major growth challenge
Significant number of small and medium-sized businesses (SMBs) have reported lack of requirement of these solutions for their operations. Moreover, substantial initial costs of these system deployments is a major concern, even for the large organizations can present potential growth challenge to the industry growth. High upfront costs are primarily associated with the hardware expense and the requirement for backend integration and customization costs.
U.S. held the major industry share, whereas Asia Pacific is expected to witness highest growth during the forecast period
According to Coherent Market Insights’ research, even though U.S. held the major industry share in 2016, the industry penetration was still around 40% in the region. Owing to this factor, even U.S. is expected to witness significant growth potential over the forecast years. Asia Pacific has witnessed significant increase in trade activities over the past few years, primarily owing to outsourcing of production activities in the region. China, Japan, India, South Korea and Indonesia are among the major countries that may offer significant growth opportunities owing to rampant growth of end-use industries. Moreover, requirement to monitor the export of manufactured goods and amenities, will help the industry participants establish strong foothold in the region.
Chief industry participants in the mobile resource management solutions market include AppLocation Systems, Inc., AT&T, CalAmp Corporation, Garmin International, Masternaut, PeopleNet Communications Corporation, SkyBitz, Inc., and Spireon, Inc. Industry participants are increasingly making efforts to provide cutting edge solutions to enhance its applications and expand their regional presence in order to strengthen their foothold in the market. For instance, CompassCom announced it plans to introduce its MRM solutions to leverage their investments in ArcGIS. Their solutions are featured with real time monitoring and asset tracking, improved safety, accountability and efficiency for assets and personnel, in June 2017.
For More Information :
https://www.coherentmarketinsights.com/ongoing-insight/mobile-resource-management-solution-market-642
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Visit our news Website: http://www.coherentchronicle.com