Global demand for fleet management was valued at US$ 39.1 Million in 2021 and is projected to reach US$ 48 Billion by 2022-end. From 2022 to 2032, the fleet management market is forecast to flourish at a 17.4% CAGR. By the end of the aforementioned forecast period, a valuation of US$ 239 Million is anticipated for the market.
Demand for fleet management solutions is likely to reign supreme, with a documented historical CAGR worth 20.8% from 2015-2021. Among components available, the demand for cloud deployment is expected to grow at a CAGR of 23% over the assessment period while operations management will exhibit a CAGR of 16.8% through 2032.
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Market Players: –
- TomTom N.V.
- Zebra Technologies Corp.
- Trimble Inc.
- Cisco Systems, Inc.
- GoFleet Corporation
- Geotab Inc.
- Digital Matter
- GPS Trackit
- Fleetmatics Group PLC
- GoGPS
- Wireless Links
- Embitel
- Gurtam
- Teletrac Navman
- Linxio
- StreetFleet
- TigerFleet
- Ruptela
- Trakm8 Limited
- WebEye Telematics Group
Competitive Landscape
Prominent providers are focusing on offering a level of competition due to high market consolidation by market leaders and increased R&D activities, leading to innovations in telematics and analytics solutions. Furthermore, top-ranking providers are relying on collaborations, acquisitions, and partnerships with existing players to widen their outreach. Some notable developments are as follows:
- In October 2021, Ctrack announced the launch of PC Secure which allows devices to be tracked and recovered in the same way that Ctrack has done for the past 30 years with stolen vehicles and other assets. Ctrack PC Secure makes any laptop or desktop computer visible for Ctrack to recover stolen laptops or desktops using innovative software.
- In June 2021, Dtac Business announced its partnership with Cartrack Technology to provide fleet management solutions to small and medium enterprises in Thailand. The Fleet Management solution powered by dtac’s full suite of IoT connectivity solutions has advanced features, such as fuel usage monitoring, intelligent transport planning solutions, and driver behavior monitoring, through which business owners can easily monitor via both mobile app and web portal. Using Cartrack’s advanced AI technology, Fleets can be optimized to reduce fuel consumption, creating driving zones to help increase work efficiencies and reduce operational costs.
Key Segments Covered in the Industry Report
- By Deployment :
- Cloud
- On-Premise
- By Type :
- Vehicle Management
- Driver Management
- Operations Management
- By End User :
- Transportation & Logistics
- Automotive
- Retail
- Government
- Shipping
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
How Fact.MR Assists in Making Strategic Moves?
The data provided in the Fleet Management Market report offers a comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with an analysis of diverse offerings by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.