The estimated value of the global fleet management market in 2021 was US$ 39.1 million, and by the end of 2022, it is expected to reach US$ 48 billion. The fleet management market is anticipated to grow at a CAGR of 17.4% from 2022 to 2032. A market valuation of US$ 239 Million is estimated by the conclusion of the previously indicated forecast period.
Fleet management solutions are expected to be in high demand, with a historical CAGR of 20.8% from 2015 to 2021. The demand for cloud deployment is anticipated to expand among the available components at a CAGR of 23% during the assessment period, while operations management will show a CAGR of 16.8% through 2032.
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Large- and medium-sized fleet operators frequently employ fleet management solutions to ensure consistent work and streamline operations. With the help of optimized fuel and route choices, fleet management solutions help consumers and organizations simplify cost-effective logistics and transportation. Many fleet management firms that serve the last-mile delivery requirements of pharmacies, restaurants, huge marts, couriers, and logistics organizations have been compelled by the rising cost to entirely switch to low-speed two-wheeler Electric Vehicles (EVs). They are able to save around 90% of the cost of fuel as a result.
Key Companies Profiled
- TomTom N.V.
- Zebra Technologies Corp.
- Trimble Inc.
- Cisco Systems, Inc.
- GoFleet Corporation
- Geotab Inc.
- Digital Matter
- GPS Trackit
- Fleetmatics Group PLC
- Wireless Links
- Teletrac Navman
- Trakm8 Limited
- WebEye Telematics Group
After reading the report on Global Fleet Management Market, readers get insight into the:
- The prevailing challenges, restraints, opportunities, and drivers of the market
- The competitive landscape with profiles of leading market players
- New as well as promising avenues for revenue generation in key regions of the market
- Emerging revenue streams for all the players in the developing regions
- Influence of Covid-19 in the market and how the pandemic is going to shape the contours of the market in the forthcoming years
- Technologies and business models with disruptive potential
- Role of regulatory bodies in boosting new growth opportunities of the market across different parts of the world
- How new market developments are likely to influence the market at large in the near future
Key Segments Covered in the Industry Report
- By Deployment :
- By Type :
- Vehicle Management
- Driver Management
- Operations Management
- By End User :
- Transportation & Logistics
- By Region :
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
To understand of the competitive landscape in the Global Fleet Management Market better, the report covers the profile of the following top players:
Industry challenges together with the latest developments in the technological developments of Global Fleet Management Market have been elaborated on in the market intelligence report.
It also provides a detailed picture of the trends of the changing industry structure and the challenges that are faced by various industry participants. The report elaborates on the major challenges that the participants of the said market could possibly across the globe.