Fleet Management Market Research Report
The GMI Research's latest analysis reveals that the Fleet
Management Market is slated to register a significant CAGR over the forecast
period. This is attributed to the growing penetration of wireless technology in
fleet management due to its several benefits, such as fast response &
access, among others, and rise in the launch of big data analysis and cloud
computing solutions.
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Fleet Management Market’s leading Manufacturers:
·
Geotab Inc.
·
Donlen
·
ARI Fleet Management Company
·
Inseego Corp.
·
Teletrac Navman US Ltd
·
Omnitracs
·
Verizon
·
Trimble Inc.
·
MiX Telematics
·
Wheels, Inc.
Fleet Management Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key
Drivers
The growing penetration of wireless technology in fleet
management due to its several benefits, such as fast response & access,
large-area coverage, and rise in the launch of big data analysis and cloud
computing solutions are the key drivers of the growth of the global fleet
management market size. As per the fleet management market report, various technological
advancements, including the usage of IoT, artificial intelligence, and data
analytics and the strong adoption of fleet management systems in electric
vehicles and medium & heavy commercial vehicles, will further surge the
growth of the fleet management market over the coming years.
Fleet management provides several remarkable benefits like
improving efficiency, decreasing the risk related to the vehicle, minimizing
fuel costs, better productivity, improving customer satisfaction, and ensuring compliance
with legislation. According to the fleet management market research, the strict
government mandates for the development of new revenue streams for the vendors,
the increasing concerns regarding fleet safety, and the downward trend in the
cost of hardware and IoT connectivity will lead to an upsurge in the deployment
of the fleet management system. The growing concerns of the fleet owners on the
efficiency of operations and numerous initiatives of the green fleet to reduce
the effect on the environment and decrease the pollution will further stimulate
the growth of the fleet management market. On the other hand, the increasing
cases of cyber threats and challenges regarding the safety of the driver will
hinder the growth of the market.
Fleet
Type Segment Drivers
Based on the fleet type, the passenger cars segment is
projected to rise at a faster CAGR over the coming years due to the strong
adoption of electric vehicles, which is growing the implementation of the fleet
management system. The rising aim of the government to decrease carbon
emissions, increasing focus on reducing the fleet costs, and benefits of
utilizing fleet management in electric vehicles like EV diagnostics,
optimization of electric range from fuel efficiency, and others will further
augment the market growth.
Fleet Management Market Segmentation:
Segmentation by Component:
·
Solutions
o
Operations Management
§
Routing & Scheduling
§
Fleet Tracking & Geofencing
o
Performance Management
§
Fuel Management
§
Driver Management
o
Vehicle Maintenance & Diagnostics
o
Fleet analytics & Reporting
o
Others
·
Services
o
Managed Services
o
Professional Services
§
Consulting
§
Implementation
§
Support & Maintenance
Segmentation by Deployment
Type:
·
Cloud
·
On-Premises
Segmentation by Fleet
Type:
·
Passenger Cars
o
Electric Vehicles
o
Internal Combustion Engine
·
Commercial Fleets
o
Light Commercial Vehicles
o
Medium & Heavy Commercial Vehicles
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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