B2B Connected Fleet Services Market Research Report鈥擥lobal Forecast till 2032

B2B Connected Fleet Services Market Research Report Information By Service Type (Vehicle Tracking, Remote Diagnostics, Driver Management, Stolen Vehicle Tracking, Others), By Fleet Service Type (Conventional and Electric), By Application (Passenger Cars, Trucks, Buses, Others), Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Forecast till 2032

ID: MRFR/ICT/10576-HCR | 116 Pages | Author: Aarti Dhapte | October 2023         

Global B2B Connected Fleet Services Market Overview


B2B Connected Fleet Services Market Size was valued at USD 8.1 billion in 2022. The B2B Connected Fleet Services market industry is projected to grow from USD 8.6 billion in 2023 to USD 56.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.3% during the forecast period (2023 - 2032). The rising role of the Internet of Things, rapid innovation in connected services, growing demand for automotive safety, and rising demand for fleet management services from commercial transportation businesses will drive the market of B2B connected fleet services.


B2B Connected Fleet Services Market SIZE (USD BILLION) (2018-2032)


B2B Connected Fleet Services Market SIZE


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


B2B Connected Fleet Services Market Trends




  • Rapid Rollout of 5G Technology




5G becomes more widely available across globe, fleet management software becomes more important to stay ahead of the competition and increase productivity. A shortage of professional drivers, persistent supply chain challenges, and a shortage of commercial fleet operators are driving the demand for such Fleet Types. Companies are working to maintain vehicles so that downtime is reduced, route efficiently in order to utilize their delivery capacity, monitor driver performance to reduce accidents, and create a comfortable working environment so that drivers stay with them.


Furthermore, with the help of software platforms and the huge amount of data generated by their vehicles, companies are working to maintain their vehicles and reduce downtime. According to Verizon Connect, as 5G networks enable the next level of connectivity, demand will only rise. Speedy 5G networks, according to the company, will be able to handle the data generated by connected vehicles as they generate more information more frequently.


B2B Connected Fleet Services Market Segment Insights


B2B Connected Fleet Services by Service Type Insights


The B2B Connected Fleet Services market segmentation, based on Service Type, includes Vehicle Tracking, Remote Diagnostics, Driver Management, Stolen Vehicle Tracking and Recovery, Others. The vehicle tracking segment is dominating in terms of market share in 2022. The adoption of vehicle tracking in passenger cars and commercial vehicles has increasing due to the rapid expansion of ride-hailing businesses.


Remote Diagnostics segment held the leading growth over the forecasted period among the rest of Service Types of B2B Connected Fleet Services market. Remote diagnostics are used to analyze the vehicle's condition and monitor the health and condition of the automobile. Increased automation level in the automobiles and reliance of customers on IoT applications and remote diagnostics integrated personal vehicles to drive B2B connected fleet services market growth


B2B Connected Fleet Services Market SIZE (USD BILLION) Service Type 2022 VS 2032


B2B Connected Fleet Services Market SIZE (USD BILLION) Service Type 2022 VS 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


B2B Connected Fleet Services Fleet Type Insights


According to Fleet Type, the segment is divided into Conventional and Electric. Conventional segment led the overall market share in 2022. Conventional vehicles use as an internal combustion engine fueled by gasoline or diesel to power the wheels. Conventional vehicles are self-propelled, motorized vehicles designed for transporting persons or property on a public highway led to rise in the demand for conventional vehicles in B2B connected fleet services industry.


Electric segment is anticipated to be dominated in terms of CAGR over the forecast period. The demand for a fuel-efficient fleet has increased, due to the rise in the price of petrol and diesel. The cost of electric vehicle batteries has been decreasing during the past decade due to technological advancements and the production of electric vehicle batteries on a mass scale in large volumes. The supportive government policies and regulations, increasing investments by leading automotive OEMs, rising environmental concerns, decreasing prices of batteries, and advancements in charging technologies are the key factors driving the growth of the B2B connected fleet services market.


B2B Connected Fleet Services Market SIZE (USD BILLION) Fleet Type 2022 VS 2032


B2B Connected Fleet Services Market SIZE (USD BILLION) Fleet Type 2022 VS 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


B2B Connected Fleet Services Application Insights


According to Application, the segment is divided into Passenger Cars, Trucks, Buses, Others. Passenger Cars segment led the overall market in the B2B Connected Fleet Services industry in 2022. The demand for passenger vehicles is rising significantly across the globe. According to the GlobalEconomy.com Asian and European countries are showing rapid growth in terms of passenger sales in 2022 resulted in growing the demand for B2B Connected Fleet Services.


Trucks segment is expected to grow significantly in terms of CAGR during the forecast period. Recently, the rising demand for on-demand trucking services due to the benefits of on-demand trucking extends to clients, individual drivers, and others. The major benefits include the ability to lower expenses, optimize the use of containers, reduce administrative tasks, and automate processes.


B2B Connected Fleet Services Market SIZE (USD BILLION) Application 2022 VS 2032


B2B Connected Fleet Services Market SIZE (USD BILLION) Application 2022 VS 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


B2B Connected Fleet Services Regional Insights


By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South and Central America. North America accounted for the largest share of revenue in 2022. The government of this region has played an extremely significant role in increasing the market for fleet service in recent years. The stringent regulations and rules in the North American region have successfully reduced the number of emissions that come from using vehicles and to reduce the pollution caused by vehicles the stringent regulations are compelling the industry to adhere to the policies.


The Asia-Pacific region is expected to have the largest market CAGR in the B2B Connected Fleet Services market. The growing use of fleets across different end-user sectors such as manufacturing, electrical and electronics, logistics, warehousing, and automotive, among others, is expected to drive the B2B connected fleet service market during the forecast timeline.


Further, the countries considered in the scope of the B2B Connected Fleet Services market are the US, Canada, Mexico, UK, Germany, France, Spain, China, Japan, South Korea, South Africa, Saudi Arabia, Brazil, Argentina, and others.


B2B Connected Fleet Services Market SIZE (USD BILLION) REGION 2022 VS 2032


B2B Connected Fleet Services Market SIZE (USD BILLION) REGION 2022 VS 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


B2B Connected Fleet Services Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the B2B Connected Fleet Services market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the B2B Connected Fleet Services industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


Key Companies in the B2B Connected Fleet Services market include



B2B Connected Fleet Services Industry Developments


April 2023: BlackBerry invested in CerebrumX to help it grow its range of data-driven connected automobile solutions. Its AI powered Augmented Deep Learning Platform collects linked car data relating vehicle and driver performance. provides it to manufacturers and aids them in the development of goods and services


January 2023: FINN launched its car subscription service to companies in the US, which includes maintenance, 24/7 consumer support, and emergency assistance. B2B customers also have access to a professional customer success manager who assists them on their fleet requirements.


October 2022: Hyundai Motor Company announced that its fleet of XCIENT fuel cell powered heavy-duty trucks throughout Switzerland has travelled more than 5 million kilometers in the last two years. Beginning in 2020, the company sold 47 hydrogen-powered, emissions-free commercial trucks to 23 Swiss enterprises for logistics, distribution, and retail fulfilment.


Intended Audience



  • Semi-Conductor Industry

  • Robotics Industry

  • Technology Investors

  • Regulatory Industries

  • Government Bodies

  • Defense industry


B2B Connected Fleet Services Market Segmentation


B2B Connected Fleet Services Service Type Outlook (USD Billion, 2018-2032)



  • Vehicle Tracking

  • Remote Diagnostics

  • Driver Management

  • Stolen Vehicle Tracking and Recovery

  • Others


B2B Connected Fleet Services Fleet Type Outlook (USD Billion, 2018-2032)



  • Conventional

  • Electric


B2B Connected Fleet Services Application Outlook (USD Billion, 2018-2032)



  • Passenger Cars

  • Trucks

  • Buses

  • Others


B2B Connected Fleet Services Regional Outlook



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • Germany

    • UK

    • France

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Rest of Asia-Pacific



  • Middle East & Africa

    • GCC

    • South Africa

    • Rest of Middle East & Africa



  • South America

    • Brazil

    • Argentina

    • Chile

    • Rest of South America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 8.1Billion
Market Size 2023 USD 8.6 Billion
Market Size 2032 USD 56.1 Billion
Compound Annual Growth Rate (CAGR) 20.5% (2023-2032)
Base Year 2022
Forecast Period 2023-2032
Historical Data 2018-2022
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Service Type, Fleet Type, Application and Region
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, and South America
Countries Covered The U.S, Canada, Mexico, Germany, France, UK, Italy, China, Japan, India, South Korea, GCC, South Africa, Brazil, Argentina, Chile.
Key Companies Profiled Hyundai Motor Company (South Korea), Bosch Mobility Solutions (Netherland), Verizon Connect (Ireland), Scania (Sweden) , Aptiv 聽(Ireland), UD Trucks Corporation 聽(Japan), Telefonaktiebolaget LM Ericsson (Ericsson) (Sweden) , Michelin Group (UK) , Merchants Fleet (US) , DAF Trucks N.V. (Netherlands), Toyota Motor Corporation (Japan)
Key Market Opportunities 路聽聽聽聽聽聽 Rapid Rollout Of 5G Technology 路聽聽聽聽聽聽 Growing Advantages of Telematics Implementation For Fleet Management
Key Market Dynamics 路聽聽聽聽聽聽 Rising Role of The Internet of Things (IOT)聽聽聽聽聽聽 路聽聽聽聽聽聽 Rapid Innovation in Connected Services 路聽聽聽聽聽聽 Growing Demand for Automotive Safety聽聽聽聽聽聽聽聽聽 路聽聽聽聽聽聽 Rising Demand for Fleet Management Services from the Commercial Transportation Businesses


Frequently Asked Questions (FAQ) :

The market for B2B Connected Fleet Services was held at USD 8.1 Billion in 2022

The market size for B2B Connected Fleet Services is expected to be USD 56.1 Billion in 2032

The growth of B2B Connected Fleet Services market is anticipated at CAGR 20.5% during 2023-2032.

North America held the largest market share owing to the rise in the development of technological advancements in recent years.

The key players in the B2B Connected Fleet Services Market Hyundai Motor Company (South Korea), Bosch Mobility Solutions (Netherland), Verizon Connect (Ireland), Scania (Sweden), Aptiv (Ireland), UD Trucks Corporation (Japan), Telefonaktiebolaget Lm Ericsson (Ericsson) (Sweden), Michelin Group (UK), Merchants Fleet (US), DAF Trucks N.V. (Netherlands), Toyota Motor Corporation (Japan)

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players鈥 financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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