Fleet Management Market Overview
The global fleet management market is estimated to reach $41.54 billion in 2031, reveals the premium market intelligence study. The study also highlights that the market is set to witness a CAGR of 19.52% during the forecast period 2022-2031.
Globally the demand for fleet management is proliferating owing to the increasing strategic importance ofchanging mobility needs. Because of this, the global fleet management market is expected to grow significantly in the forecast period. Increasing demand for commercial vehicles from e-commerce, insurance, construction, and mining industries is expected to propel the fleet management market growth. Further, Implementation of artificial intelligence (AI) solutions in fleet management software and hardware is accelerating the growth of the market.
USP of the Report
• Extensive competitive benchmarking of the players (fleet management providers and start-ups) to offer a holistic view of the fleet management market landscape
• 18 company profiles, including fleet management providers and start-ups
• Market ranking analysis based on product portfolio, recent developments, and regional spread
• Segmentation by component, deployment, application type, and vehicle type provided in the report
• Market share analysis of key players in the fleet management market
Analyst Perspective
According to Dhrubajyoti Narayan, Lead Analyst of the report, “Due to the growing strategic significance of shifting mobility, there is an increase in demand for fleet management on a global scale. As a result, it is anticipated that the worldwide fleet management market will expand considerably throughout the forecast period. It is crucial for fleet businesses wishing to expand their enterprises to adopt fleet management. Its benefits include enhancing client happiness, boosting productivity, reducing gasoline expenses, and offering real-time visibility. The e-commerce, insurance, construction, and mining industries’ rising need for commercial vehicles is anticipated to fuel the market for fleet management. Additionally, the industry is expanding faster because of the utilization of artificial intelligence (AI) solutions in fleet management software and hardware.”
Key Companies Operating in The Market
Key players in the global fleet management market analyzed and profiled in the study involve fleet management-based product manufacturers and start-ups. Moreover, a detailed competitive benchmarking of the players operating in the global fleet management market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key players profiled in the report include Trimble Inc., Cisco Systems, Inc., TomTom International BV, Geotab Inc., Verizon, AT&T Inc., Zebra Technologies Corp., Embitel, Teletrac Navman US Ltd, Gurtam, Wheels Donlen, Astrata Europe BV., TELTONIKA, Navtelecom, LLC, Queclink Wireless Solutions Co., Ltd., Fleetx, Fleeti, and Wonder Wagen.
Key Questions Answered in the Report/h3>
• What are the major market drivers, challenges, and opportunities in the fleet management market?
• What are the views of key industry participants within the fleet management companies operating in the space with respect to the latest trends and developments pertinent to fleet management?
• What are the key development strategies deployed by the key players to sustain in the market, and what are some of the initiatives taken by new entrants within this ecosystem?
• Which regions and countries are most effectively utilizing fleet management?
• How has COVID-19 impacted the fleet management business across the supply chain globally?