Fleet Management Market Forecasts to 2028 – Global Analysis By Deployment Type (Cloud Technology, Hybrid, On-Premises), Communication Technology (Satellite Navigation, Cellular System) and By Geography
According to Stratistics MRC, the Global Fleet Management Market is accounted for $18.98 billion in 2020 and is expected to reach $48.69 billion by 2028 growing at a CAGR of 12.5% during the forecast period. The rise in international trades and Growth in acceptance of wireless technology is driving the market growth. However, Atmospheric intervention causing problems for GPS connectivity is hampering the growth of the market.
Fleet management is a fast, reasonable, simply available, and economical system or method to permit enterprises and industries to keep, track, transform and stabilize their vehicles. The fleet management system creates usage of driver management, vehicle tracking, financing, vehicle diagnostics, etc. to conclude the vehicles.
Based on the fleet type, the passenger cars segment is going to have lucrative growth during the forecast period. Passenger cars are cars with a seating size of equal to six persons, not including the driver. The services comprise, fuel management, maintenance, licensing and compliance, accident claims, and supply chain management for keeping the vehicles well maintained. Fleet management solution assists in establishing, handling, and organizing fleet operations from a centralized information system. It uses connectivity technologies to permit data and information flow amongst fleets and the back-end systems, available by fleet owners and managers.
By geography, North America is going to have high growth during the forecast period. This is attributed to the rise in demand from numerous industrial verticals. In North America, especially in the U.S., constant improvement in big-data analytics in fleet management is subsequent in better choice, flexibility, and cost-saving solutions for fleet management and near the future of mobility. Besides, the growing demand for full-service leasing is considerably fuelling the growth of fleet management companies in the coming years.
Some of the key players profiled in the Fleet Management Market include Cisco Systems, Inc., Digital Matter, Embitel, Fleetmatics Group PLC, Geotab Inc., GoFleet Corporation, GoGPS, GPS Trackit, Gurtam, Linxio, Ruptela, StreetFleet, Teletrac Navman, TigerFleet, TomTom N.V., Trakm8 Limited, Trimble Inc., WebEye Telematics Group, Wireless Links ,Zebra Technologies Corp.
Estimated Market Size in 2020:
USD 18.98 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 48.69 billion
Tables, Graphs& Figures
Component, Deployment Type, Fleet Type, Communication Technology, End User and Region
Core Drivers and Opportunities:
Restraining Factors&Market Threats:
• Software ( Telematics Software)
Deployment Types Covered:
• Cloud Technology
Fleet Types Covered:
• Commercial Fleet
• Railway System
• Road Transportation
Communication Technology Covered:
• Satellite Navigation
• Cellular System
End Users Covered:
• Transportation & Logistics
• Oil & Gas
• Banking, Financial Services and Insurance (BFSI)
• Mobility Solution
• Education & Research
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Fleet Management Market is majorly driven by increasing need for reliable & cost-effective fleet management, and rising demand for cloud based & big data analytics solutions.
The cloud technology segment is growing at a highest CAGR owing to its cost-efficiency and hassle-free integration.
Europe dominated with a significant market share due to the factors such as the increasing funds in corporate vehicle fleets for employees and the rising vehicle leasing business is also assisting the provincial market.
Asia Pacific market is growing at a highest CAGR owing to rise in consciousness about driver safety and accident prevention, and development in transportation and logistics industries.
Key players in Fleet Management Market include Cisco Systems, Inc., Digital Matter, Embitel, Fleetmatics Group PLC, Geotab Inc., GoFleet Corporation, GoGPS, GPS Trackit, Gurtam, Linxio, Ruptela, StreetFleet, TeletracNavman, TigerFleet, TomTom N.V., Trakm8 Limited, Trimble Inc., WebEye Telematics Group, Wireless Links,Zebra Technologies Corp.
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