Industry Background:
Fleet management refers to the management of various functions such as managing personnel, fuel cost, vehicle maintenance, real-time tracking fleet in order to reduce downtime and cost. The systems collect a variety of data including location, speed, direction, and more from fleets to gain insight into fleet performance. By integrating advanced technologies like AI and ML in the fleet systems provide predictive ETAs and comprehensive analytics. Fleet management system also helps fleet managers to route and distribute fleet efficiently.
According to AMA Research, the market for Fleet Management System for Automotive is expected to register a CAGR of 10.77% during the forecast period to 2030. This growth is primarily driven by Surging Demand for Fleet Management System for Real-time Fleet Tracking and Reduce Downtime and Maintenance Cost of Vehicle
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Rarestep, Inc. (United States), Embitel (India), Trimble (United States), Numadic (India), Verizon (United States), HERE (Netherlands), Teletrac Navman (United States), Omnitracs (United States), Geotab (Canada), Axiomtek (United States), Samsara Inc. (United States), Donlen Corporation (United States), Chevin Fleet Solutions (United Kingdom) and Bridgestone (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2021, Bridgestone acquired Azuga Holdings from Sumeru Equity Partners, Danlaw, Inc. Azuga Holdings offers a fleet management platform with various features like GPS tracking, video telematics, driver behavior management, and accident reduction solutions across the United States. The acquisition will strengthen Bridgestone’s presence in Silicon Valley by delivering sustainable tire-centric and mobility solutions to improve fleet efficiency, safety, and uptime of vehicles.
In January 2023, Inseego has partnered with vehicle and driver management software specialist, Pocket Box, to deliver telematics-enabled fleet management solutions. Under the partnership, fleet customers will have access to a tool to help ensure vehicles are road legal and staff are fit and eligible to drive.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Development of Fleet Management Systems by Leveraging AI and Machine Learning Technologies
Market Growth Drivers:
Surging Demand for Fleet Management System for Real-time Fleet Tracking and Reduce Downtime and Maintenance Cost of Vehicle and Increasing Use of Fleet Management Systems to Prevent Frauds and Improve Customer Experience
Challenges:
Inaccuracy of Data Due to Mismanagement of Technology
Restraints:
Monthly Subscription Charges of Fleet Management Systems and Data Usage Charges
Opportunities:
Evolution of EVs and Connected Vehicles Worldwide
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Fleet Management System for Automotive Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Fleet Management System for Automotive Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Fleet Management System for Automotive players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Fleet Management System for Automotive Study Sheds Light on
The Fleet Management System for Automotive Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Fleet Management System for Automotive industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Fleet Management System for Automotive industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.