What is Fleet Management Market?
Fleet management is a system of technologies and procedures that allows companies to organize and coordinate work vehicles with the aim to improve efficiency, reduce costs and provide compliance with government regulations. It helps to control the entire lifecycle of commercial vehicles alongside reducing associated risk, improving efficiency, increasing productivity and ensuring compliance with legislation. It includes a range of functions such as vehicle financing, vehicle maintenance, vehicle telematics, driver management, speed management, fuel management, health and safety management. It is used by couriers, oil and gas delivery, utilities, repair and service industry businesses to ensure responsible vehicle use, confirm safety and enable real-time tracking.
Highlights from Fleet Management Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Azuga (United States), Chevin Fleet Solutions (Australia), Ctrack (United States), AT&T (United States), ARI Fleet Management (United States), Donlen Corporation (United States), Geotab (Canada), GPS Insight (United States), Nextraq (United States), Masternaut (United Kingdom) and MiX Telematics (South Africa) |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Fleet Management market throughout the forecasted period.
Azuga (United States), Chevin Fleet Solutions (Australia), Ctrack (United States), AT&T (United States), ARI Fleet Management (United States), Donlen Corporation (United States), Geotab (Canada), GPS Insight (United States), Nextraq (United States), Masternaut (United Kingdom) and MiX Telematics (South Africa) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Teletrac Navman (United States), Trimble (United States), Fleetroot (United Arab Emirates), Verizon Connect (United States) and Wheels, Inc. (United States). Fleet Management Market Segmentation:
Scope | Sub-Segments |
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Fleet | Commercial Fleets {Light Commercial Vehicles, Medium and Heavy Commercial Vehicles},Passenger Cars {Internal Combustion Engine and Electric Vehicles} |
End-User | Transportation,Energy,Construction,Manufacturing,Other |
Deployment | On-Premises,Cloud-Based,Hybrid |
Solution | Asset Management,Information Management,Driver Management,Safety and Compliance Management,Risk Management,Operations Management,Other |
On the basis of geography, the market of Fleet Management 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, Spain, 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.
Influencing Trend:
Technological Improvement and Enhancement
Market Growth Drivers:
Rising Demand for Logistics and Transport and Rising Adoption of Cloud Computing and Big Data Analytics
Challenges:
Blind Spots in the Network Coverage
Restraints:
Lack of Awareness among Fleet Owners
Opportunities:
Introduction of Autonomous Fleets to Provide Multiple Partnership Opportunities and Demand for Operational Efficiency and Decreasing Management System Components
Key Target Audience
Fleet Management Companies, Emerging Companies, Research Professionals, Government Body & Associations and End-user
On 26 February 2018, AT&T launched fleet management for enterprise and government. AT&T is expanding its internet of things (IoT) flee management solutions portfolio as a full-service provider. AT&T fleet management for enterprise and AT&T fleet management for the government will help boost productivity, control costs, improve safety and manage compliance for customers.