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Mobile Resource Management (MRM) Market Size - Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032
- Report ID: GMI2432
Mobile Resource Management Market Size
Mobile Resource Management (MRM) Market size is projected to experience a healthy growth during 2024 to 2032, led by the rapid rate of industrialization and population growth worldwide.
With surging advances in transport companies, construction sites, police & fire service departments, oil & natural gas, government, and public work, the focus of fleet operators on minimizing consumed fuel and increasing the number of deliveries per day has considerably surged. To that end, MRM technology is expected to record widespread adoption for real-time tracking of mobile resources to serve customer demands and limit fuel costs by locating better routes.
The rollout of several new government-led initiatives and the rising regulatory compliance to features, such as electronic logging devices (ELD) for tracking driver hours will also add to the industry growth. For instance, the California ELD mandate, that came into effect on January 1, 2024, will require intrastate drivers to deploy ELDs to record their hours of service. On the other side, the growing risks of cross-border vehicle tracking, and data security may hinder the technology adoption to some extent.
Mobile Resource Management Market Trends
The rising technological shift from hardware to 3G and 4G cellular services along with the introduction of GPS and GIS devices in vehicle fleets for vehicle tracking and routing are other factors influencing the industry development. Of late, MRM solutions are increasingly integrated with IoT and telematics technologies to allow businesses to gather real-time data on mobile assets, vehicles, and field personnel for improved decision-making. The surging popularity of cloud-based MRM solutions is another important driver for the industry growth.
Mobile Resource Management Market Analysis
Based on end-user, the transportation & logistics segment is estimated to capture substantial revenue share of the mobile resource management industry by 2032. The growth can mainly be attributed to the surging requirement for real-time tracking of vehicles, assets, and shipments. In logistics, MRM solutions offer real-time visibility into the location and status of assets to assist companies in optimizing asset utilization, reduce losses, and streamline inventory management. Rapid growth of e-commerce, increased demand for last-mile delivery, and the influx of sustainability initiatives will further drive the segment expansion.
North America mobile resource management (MRM) market size is expected to record a robust growth rate from 2024 to 2032, due to the surging efforts on efficient fleet management in the region. For instance, in April 2023, Colorado-based Trimble introduced the first-ever industry dwell time metrics to enhance delivery, scheduling and driver utilization in fleet management.
The increasing obligation for reliability, efficiency, and customer safety is increasing the deployment of mobile resource management services to track as well as monitor their fleet and other heavy vehicles. The presence of a well-established transportation and logistics infrastructure will also play an important role for the regional industry growth.
Mobile Resource Management Market Share
Leading firms operating in the mobile resource management industry, including Garmin, AT&T, and Telogis, among others are placing targeted efforts on strategies, such as novel product launches as well as collaboration ventures with local providers for gaining competitive edges while improving brand value.
Some of the prominent MRM industry players include:
- AT&T, Inc.
- Masternaut
- Garmin International, Inc.
- CalAmp Corporation
- Telogis, Inc.
- Spireon, Inc.
- SkyBitz, Inc.
- Trimble, Inc.
- Verizon Communications, Inc.
Mobile Resource Management Industry News
- In April 2023, Verizon Connect unveiled new updates for its mobile workforce management platforms for helping customers in more easily connecting and monitoring their assets in a centralized approach.
- In June 2023, Cisco partnered with AT&T to disclose new solutions for enhancing connectivity and advancing the calling landscape for hybrid workforces.
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