MOBILE RESOURCE MANAGEMENT SOLUTION MARKET ANALYSIS

Mobile Resource Management Solution MarketSize and Trends

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.

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.

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.