What is Mileage Tracking Software Market?
The global mileage tracking software is expected to grow at a slow pace during the forecast period, according to the AMA study. The reason behind slowing down of the growth is the impact of COVID-19 pandemic across the world and declining economy of different industries is expected to be one of the major factors expected to restrain the growth of the market for the next few years.
The market study is being classified, by Application (Expense Reports, Setup, Travel Management, Tracking, Reimbursement, Client Invoicing and Others) and major geographies with country level break-up.
ADDCENTIA (United States), CarData Consultants Inc. (United States), Everlance (United States), Fyle Inc. (India), HURDLR, INC. (United States), Microsoft (United States), MileCatcher, Inc. (United States), Motus, LLC (United States), Selenity (United Kingdom), SureMileage (United States), Street Smart Mobile (United States), TRIPLOG MILEAGE (United States) and Zoho Corporation Pvt. Ltd. (India) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on development of new & innovative solutions in order to remain competitive in the global market. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Mileage Tracking Software market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Mileage Tracking Software market by Type, Application and Region.
On the basis of geography, the market of Mileage Tracking Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Demand for Automation in Transportation & Logistics Industry
- Growth in Cloud-based Operational Platforms
- Increasing Number of Travel Enterprises Across the World
Market Trend
- Implementation of Artificial Intelligence in Mileage Tracking Software
Restraints
- Availability of Open Source Platforms
Opportunities
- Opportunities in Asia Pacific Region Propelled by the Countries Such as India, China, and Japan
Challenges
- The Outbreak of COVID-19 is Expected to Decrease the Growth of the Market For the Next Few Years Due to Suspended Transportation of Passengers and Goods Across the World
Market Leaders and some development strategies
In September 2019, Motus LLC announced that it has completed the acquisition of mobile expense management firm Wireless Analytics LLC which has led the industry in Managed Mobility Services (MMS) and Wireless Expense Management (WEM), giving large and small enterprises complete visibility into their wireless usage, spend, performance and opportunities for improvement since 2003.
In October 2018, Microsoft announced that from the previously acquired Mobile Data Labs company, it has released a new mobile app called Spend, which purpose is to help users tracking expense.