Global Fleet Management Market Information Report by Deployment Type (Cloud, On-Premises, Hybrid), by Management type (Driver Management, Asset Management, Operation Management), by Connectivity Type (Satellite Navigation, Cellular System), by Services (Managed Services, Integration and Deployment services, Professional services) and by Regions - Global Forecast To 2027

Market Overview:

Fleet management is a quick, feasible, easily accessible, and cost-effective system or technique to enable enterprises and industries to maintain, track, modify and stabilize their vehicles. The fleet management system makes use of financing, vehicle tracking, vehicle diagnostics, driver management, etc. to conclude the vehicles. Business organizations make use of Fleet management to cater to the demands of the transportation business by making a note of vehicle operations, staffing, cost of staffing, etc. to decrease the rate of risks involved with unprofessional ethics in the business.

A few of the benefits of using the fleet management monitoring system in a real-time environment are enhanced safety, lower running costs, reduced fuel cost, and optimized solutions in daily life. The factors responsible for the growth of the fleet management market size are operational competency, increased international trades, obligatory incorporation of ELD, and adoption of wireless technology. The introduction of wireless technology and many firms, industries, and companies rising interest in it has fueled the increase of fleet management in today's world. Advantages shared by wireless technology include high efficiency, quick access, and response, cost reduction, coverage of wide areas, productivity, etc. which make fleet management an essential part of automotive industries today.

The global Fleet Management Market is expected to generate a revenue of more than 73 billion US dollars by the end of the forecast period. The global Fleet Management Market is expected to register a CAGR of 22% by the forecast year 2023.

COVID-19 Analysis:

The pandemic that rose from a part in China, took a toll on the world on a significant level. Industries and companies were shut down. People were made to survive on necessities and work and co-live in-home surroundings. Lockdowns were imposed throughout the world, depleting the spread of the virus. With manpower on hold and industries being shut many industries saw a declining graph. COVID-19 had also disrupted the flow of the transportation industry and has negatively impacted the fleet industry. Since the automotive industry is widespread across the globe with different parts of the vehicle being transported from one part of the country to other, lockdowns depleted this transport thus, making the fleet industry disrupt to a significant amount. Emergency deliverers using public transport were depleted, which also hampered the fleet management market's growth. Although the industry is expected to regain its losses owing to the situation of a pandemic being under certain control by the governments around the world keeping rules and regulations in check.

Market Dynamics:

• Drivers

The factors driving the fleet industry market are:

- Increase in the demand for public transport keeping logistics in check.

- Operational competency, increased international trades, obligatory incorporation of ELD, and adoption of wireless technology. the wireless technology includes high efficiency, quick access, and response, cost reduction, coverage of wide areas, productivity, etc. which make fleet management an essential part of automotive industries today.

- Cater to the demands of the transportation business by making a note of vehicle operations, consistent performances, staffing, cost of staffing, etc. to decrease the rate of risks involved with unprofessional ethics in the business.

- Meet the need for government's rules and regulations for environmental laws.

- Introduction of cloud technology to make and store data of the fleet industry market.

- Fleet management monitoring systems in a real-time environment are enhanced safety, lower running costs, reduced fuel cost, and optimized solutions in daily life.

- Time to time scheduled maintenance of the fleet models for operational liability and reduce maintenance cost.

•  Challenges

- Local investors are unlikely to invest in the fleet industry thus decreasing the cost sensitizing in the manufacturing department.

- Less awareness about the fleet industry, thus mismanagement of vehicle fleet.

- Less production, higher selling prices, and higher maintenance. 

 Technology Analysis:

Fleet management is a quick, feasible, easily accessible, and cost-effective system or technique to enable enterprises and industries to maintain, track, modify and stabilize their vehicles. The fleet management industry deals with heavy vehicles like cars, trucks, ships, corporate vehicles, aircraft, trams, and buses.

The fleet management system makes use of financing, vehicle tracking, vehicle diagnostics, driver management, etc. to conclude the vehicles. Business organizations make use of Fleet management to cater to the demands of the transportation business by making a note of vehicle operations, staffing, cost of staffing, etc. to decrease the rate of risks involved with unprofessional ethics in the business.

A few of the benefits of using the fleet management monitoring system in a real-time environment are enhanced safety, lower running costs, reduced fuel cost, and optimized solutions in daily life. The factors responsible for the growth of the fleet management market size are operational competency, increased international trades, obligatory incorporation of ELD, and adoption of wireless technology. The introduction of wireless technology and many firms, industries, and companies rising interest in it has fueled the increase of fleet management in today's world. Advantages shared by wireless technology include high efficiency, quick access, and response, cost reduction, coverage of wide areas, productivity, etc. which make fleet management an essential part of automotive industries today.

Study Objectives:

The study objectives of the Fleet Management Market Research Report are:

- Share meaningful insights on the factors leading to the growth of the market and challenges faced by the industry.

- Make a note of technology analysis and regional analysis

- Share the COVID-19 impact on the fleet industry's size, share, revenue, and volume.

- Provide mergers and acquisitions, research and developments, new product developments, and strategic alliances of the prominent players, competitive landscape, and their core competencies.

Segment Overview:

By Type: 

The Fleet Management Market is segmented by type as Light Commercial Vehicle, Heavy Commercial Vehicle, Aircraft, Railway, Watercraft.

By Component:

The Fleet Management Market is segmented by component as Solution (Driver Management Solution, Operation Management Solution, Driver Management Solution) and Services (After-Sales Services, Claim Inspection Services, Vehicle Tracking/Follow-Up Services, Customer Relationship Management (CRM)).

By Technology:

The Fleet Management Market is segmented by technology as GNSS (Satellite) and Cellular System.

By End-Users:

The Fleet Management Market is segmented by end-users as Retail, Transportation, Logistics, Automotive, Construction, Oil, gas, energy, Manufacturing, Government, Research and Development, and Consultancy firms.

Regional Analysis:

The Fleet Management Market is segmented by region as North America, Europe, Asia-Pacific, and the Rest of the World.

- The government in the North American region plays a vital role in the increasing fleet industry market. Due to strict rules and regulations against the defaulters of air pollution contributors because of vehicle emissions, North America promises a significant market in the industrial growth of the fleet management system.

- Europe is also in the race to achieve highly efficient electric vehicles in the upcoming years owing to the significance of the fleet management industry in the region.

- Asia-Pacific has emerged as the fastest-growing economy for the fleet management market in recent years because of emerging countries like China, India, etc. where pollution is more, and people are opting for more vehicles with less emission.

Online services, web applications, cloud technology, mobile-based applications are a few of the major attractions in the fleet management industry.

Competitive Landscape:

The global fleet management market is characterized based on equipment manufacturers, high fragmentation, connectivity costs, product differentiation, etc. The market studies the mergers and acquisitions, research and developments, new product developments, and strategic alliances of the prominent players, competitive landscape, and their core competencies. The prominent players of the fleet management market are TomTom N.V., U.S. General Services Administration, Fleetmatics Group PLC, Telogis, Freeway Fleet Systems, IBM Corporation, AT&T Inc., Navico, Grupo Autofin de Monterrey, I.D. Systems, MiTAC International Corporation, Cisco Systems, Trimble Transportation & Logistics, Uber Technologies, Didi Chuxing, Grab, Scope Technologies, Troncalnet, FAMSA, Ola Cabs, DC Velocity, Fleet Robo Fleet Management Solutions, European GNSS Agency (GSA), 

Mercedes-Benz, Spireon, Renault, Altos Hornos de Mexico (AHMSA), The Goodyear Tire & Rubber Company, CARISSA Courier Company, and others. The audience of the fleet management industry includes Consultants, Investment bankers, Distributer companies, supplier companies, Government, Independent Regulatory Authorities, and other end users.

Recent Developments:

- Cisco Systems, AT&T Inc., etc. partnered with Chevin to embed the SaaS package in the fleet management model, to maintain responsibilities using fleet management services with being compliant with the systems.

- Vision Zero Network also partnered with Fleet Complete and AT&T to reduce the severe injuries, traffic fatalities, etc. while on road in different communities making productive use of the connected vehicle technology.

- Cisco Jasper made a separate Control Center for mobile applications which made use of automation to detect and control vehicles using mobile services.

Report Overview:

The Global Fleet Management Market report shares overview of:

- Extensive research on market dynamics as in drivers and challenges faced by the industry.
- Effect of COVID-19 on the industry.
- Shares an estimate of revenue the market could generate.
- The market segmentation is based on type, technology, and end-users.
- Technology, Regional and competitive analysis.

Frequently Asked Questions (FAQ) :

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